By Kimberly Chin

 

Kinder Morgan Inc. said profit and sales fell in the third quarter as the company contends with lower energy demand and muted production levels due to the pandemic.

The pipeline operator had a profit of $455 million, or 20 cents a share, compared with $506 million, or 22 cents a share, last year. It posted an adjusted profit of 21 cents a share. Analysts polled by FactSet were looking for adjusted earnings of 20 cents a share.

Revenue decreased to $2.92 billion from $3.21 billion a year earlier. Analysts were expecting revenue of $2.88 billion.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

October 21, 2020 16:32 ET (20:32 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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