The strong guidance and strategic contract extensions suggest continued growth potential. The power generation project and capital allocation framework focusing on growth investments could drive long-term value. Monitor Waha Hub gas price improvements and Permian takeaway capacity additions as key catalysts.
Price Chart
Executive Summary
Kinetik reported strong 2025 financial results with record Adjusted EBITDA of $987.7 million despite challenges, and issued 2026 guidance projecting $950-$1.05 billion Adjusted EBITDA. The company secured long-term contracts with major customers, reached FID on a power generation project, and repurchased $176 million of stock.
Key Financial Metrics
Key Facts
- Record full year Adjusted EBITDA of $987.7 million in 2025
- 2026 Adjusted EBITDA guidance of $950-$1.05 billion (7% YoY growth at midpoint)
- Amended long-term gas gathering and processing agreements with two largest New Mexico customers
- Reached FID on 40 MW gas-fired power generation project at Diamond Cryo facility
- Repurchased $176 million of Class A common stock in 2025
Financial Impact
Adjusted EBITDA guidance of $950-$1.05 billion for 2026 represents 7% growth at midpoint
Risk Factors
- Continued volatility in 2026 due to commodity price fluctuations
- Production shut-ins related to Waha gas pricing
- Delays in completion of strategic projects like ECCC Pipeline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001692787-26-000047 |
| Document: apa-20260225.htm | 0001692787-26-000047 |
| Document: 0001692787-26-000047-index-headers.html | 0001692787-26-000047 |
| Document: 0001692787-26-000047-index.html | 0001692787-26-000047 |
| Document: 0001692787-26-000047.txt | 0001692787-26-000047 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $55.97 | awaiting T+20 | — | $55.75 (−0.39%) |
Oct 15, 2026 11d ago | SC 13D/A | $55.30 | awaiting T+20 | — | $55.75 (−0.81%) |
Oct 9, 2026 17d ago | 144 | $53.72 | awaiting T+20 | — | $55.75 (−3.78%) |
Oct 8, 2026 18d ago | 144 | $53.46 | awaiting T+20 | — | $55.75 (−4.28%) |
Oct 7, 2026 19d ago | 144 | $53.60 | awaiting T+20 | — | $55.75 (−4.00%) |
Oct 6, 2026 20d ago | 144 | $52.92 | awaiting T+20 | — | $55.75 (−5.34%) |
Sep 21, 2026 5w ago | SC 13D/A | $51.61 $53.71 | ▼ −4.07% | ▼ −4.63% | $55.75 (−8.01%) |
Sep 10, 2026 6w ago | Institutional Cluster | $54.20 $54.41 | ▲ +0.39% | ▼ −1.74% | $55.75 (+2.86%) |
Aug 25, 2026 8w ago | Insider Cluster | $55.10 $52.54 | ▼ −4.65% | ▼ −4.87% | $55.75 (+1.18%) |
Aug 20, 2026 9w ago | Insider Cluster | $54.50 $53.50 | ▲ +1.83% | ▲ +1.56% | $55.75 (−2.29%) |
US Market Status
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