Kinetik Holdings Inc (KNTK) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Howard, Senior Vice President and Chief Financial Officer. Other members of our senior management team are also in attendance for this morning's call. As a reminder, today's discussion will include forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially. For a discussion of these factors, please refer to our SEC filing. We will also reference certain non-GAAP financial measures. Reconciliations to the most comparable GAAP measures can be found and our earnings materials and on our website. With that, I will turn the call over to Jamie. Thank you, Alex. Good morning, everyone. 2025 was a challenging year for the energy industry in Connecticut. Commodity price volatility, macroeconomic uncertainty, tempered customer development activity, and inflationary pressures tested our business, and so our financial results underperformed expectations. But it was also a year of important strategic progress, progress that strengthened our core business, deepened customer alignment, and positioned us for a bright future. Our team is keenly aware that 2026 is our rebuilding year, a year to reestablish credibility through consistent execution, disciplined capital allocation, and transparent communication. Despite the challenging operating conditions, we still managed to deliver year-over-year EBITDA growth and executed on several foundational initiatives. We closed the bolt-on acquisition of the Barilla Draw gathering assets, enhancing our Delaware South footprint and expanding our systems capture area. We achieved full commercial in-service at King's Landing, a multi-year strategic build that doubled processing capacity in Delaware North. Kings Landing is performing exceptionally well with a 99.8% runtime, strong etha...