Kinetik raised full-year Adjusted EBITDA guidance by $70 million after reporting Q2 Adjusted EBITDA of $281 million.
Kinetik reported second-quarter Adjusted EBITDA of $281 million, distributable cash flow of $195 million, and free cash flow of $105 million, marking its strongest financial performance to date. The company attributed results to operating execution, improved NGL recoveries, and favorable commodity prices and spreads.
Midstream Logistics Adjusted EBITDA rose 35% year-over-year to $205 million, while Pipeline Transportation Adjusted EBITDA reached $83 million. Processed natural gas volumes remained flat at 1.74 billion cubic feet per day despite production curtailments linked to Waha pricing.
Kinetik increased its full-year 2026 Adjusted EBITDA guidance to a range of $1.04 billion to $1.1 billion, up 7% from its original February forecast at the midpoint.