KNTK - Kinetik GAAP EPS of $0.21 misses by $1.52 revenue of $257.25M beats by $65.84M; intends to revise overall guidance upwards during Q2

Kinetik press release (NASDAQ:KNTK): Q1 GAAP EPS of $0.21 misses by $1.52. Revenue of $257.25M (+73.7% Y/Y) beats by $65.84M. For the three months ended March 31, 2022, Kinetik processed natural gas volumes of 1.11 Bcf/d and generated Pro Forma Adjusted EBITDA, Distributable Cash Flow and Free Cash Flow of ~$191M, $145M and $119M, respectively. "Due to attractive market fundamentals and strong commercial/operational execution, we now expect to exceed the top end of Kinetik’s previously announced 2022 Guidance range. At the high-end of Guidance, implied year on year EBITDA growth exceeds 15%. We intend to update 2022 Guidance in the second quarter."

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Kinetik GAAP EPS of $0.21 misses by $1.52, revenue of $257.25M beats by $65.84M; intends to revise overall guidance upwards during Q2