On Jan. 17, Kinder Morgan (NYSE:KMI) released fourth-quarter earnings for the period ended Dec. 31, 2006.

Revenues were up by a whopping 428.3%, which included contributions from the acquired Terasen, the addition of Kinder Morgan Energy Partners consolidated results, and gains from a decrease in deferred tax liability. Meanwhile, Kinder Morgan increased its long-term debt by 64.4% but also increased cash from operations by 217.6%.

KMI's U.S. retail segment is expected to be sold next quarter to GE Energy Financial Services and was not included in the continuing operations numbers before certain items.

Kinder Morgan Canada recently received approval toward a new five-year Incentive Toll Settlement for the Trans Mountain pipeline system by the National Energy Board.

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(Figures in millions, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005

Change

Sales

$2,947.8

$558.0

428.3%

Net Profit

$227.2

$180.2

26.1%

EPS

$1.68

$1.42

18.3%

Diluted Shares

135.2

127.2

6.3%



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2006

Q4 2005

Change*

Gross Margin

39.7%

51.4%

(11.7)

Operating Margin

19.1%

27.7%

(8.6)

Net Margin

7.7%

32.3%

(24.6)

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Cash + ST Invest.

$106.0

$117.0

(9.4%)

Liabilities

Q4 2006

Q4 2005

Change

Long-Term Debt

$11,063.0

$6,729.0

64.4%



Learn the ways of the balance sheet.

Cash Flow Highlights

YTD 2006

YTD 2005

Change

Cash From Ops.

$1,734.5

$546.2

217.6%



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  • TEPPCO Partners (NYSE:TPP)
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  • Holly Energy Partners (NYSE:HEP)

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