Kinetik Holdings Inc (KNTK) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Kinetics Second Quarter 2026 results. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Alex Durkee, Head of Investor Relations. Please go ahead. Good morning, and welcome to Kinetics' second quarter 2026 earnings conference call. Our speakers today are Jamie Welch, President and Chief Executive Officer, and Trevor Howard, Senior Vice President and Chief Financial Officer. As a reminder, today's discussion will include forward-looking statements. Please refer to our SEC filings for a discussion of the risks that could cause actual results to differ materially. We will also reference certain non-GAAP financial measures. Reconciliations can be found in our earnings materials and on our website. With that, I will turn the call over to Jamie. Thank you, Alex. Good morning, everyone. Kinetic delivered the strongest financial results in our history. Our performance was driven by exceptional operational execution, strong system performance, and a supportive commodity price environment. I'm proud of our team whose focus, discipline and commitment to excellence continue to drive these results. Accordingly, we're updating our full year 2026 adjusted EBITDA guidance upwards by $70 million at the midpoint or 7%, reflecting the strong first half performance and confidence in the outlook for the remainder of the year. Trevor will discuss the key drivers behind our guidance update in more detail shortly. The confidence embedded in our revised outlook is reinforced by what we're seeing across our footprint today. Customer development act...