Oct 16 (Reuters) - U.S. pipeline operator Kinder Morgan ( KMI )
fell short of Wall Street estimates for third-quarter
profit on Wednesday, weighed down by weaker commodity prices and
lower crude volumes.
U.S. WTI crude oil prices declined about 8.1% during
the reported quarter from a year earlier on concerns over demand
and ample supplies.
Crude and condensate volumes fell 4% from the year-ago
quarter.
At its products pipelines unit, which includes refined
products, adjusted core profit decreased about 11.5% to $277
million.
Kinder Morgan ( KMI ), whose pipelines move about 40% of total U.S.
natural gas production, said natural gas transport volumes rose
2% year-over-year.
The Houston, Texas-based company posted an adjusted profit
of 25 cents per share for the three months ended Sept. 30,
compared with analysts' estimates of 27 cents, according to
estimates compiled by LSEG.
Kinder Morgan ( KMI ) also projected annual adjusted core profit to
be 2% below its forecast, compared to previous expectations of
in line or within 1-2% below.
(Reporting by Sourasis Bose in Bengaluru; Editing by Sriraj
Kalluvila)