Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Kinetik reported record second quarter results for 2026, driven by strong operational execution, system performance, and favorable commodity prices.</li><li>Adjusted EBITDA reached $281 million, marking a significant year-over-year increase, supported by flat processed natural gas volumes at 1.74 billion cubic feet per day despite an estimated 250 million cubic feet per day of curtailments related to Waha pricing.</li><li>Distributable cash flow stood at $195 million and free cash flow at $105 million, reflecting strong cash generation.</li></ul>

Kinetik reported record second quarter results for 2026, driven by strong operational execution, system performance, and favorable commodity prices.Adjusted EBITDA reached $281 million, marking a significant year-over-year increase, supported by flat processed natural gas volumes at 1.74 billion cubic feet per day despite an estimated 250 million cubic feet per day of curtailments related to Waha pricing.Distributable cash flow stood at $195 million and free cash flow at $105 million, reflecting strong cash generation.

Kinetik’s $560 Million Expansion Push Targets A Bigger Permian Opportunity!

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<ul>
  <li>Kinetik is a pure-play midstream operator strategically positioned in the prolific Delaware Basin, a sub-basin of the Permian, providing integrated gathering, processing, and transportation services for natural gas, NGLs, crude oil, and water.</li>
  <li>The company is poised to benefit from sustained production growth in the Permian Basin, which remains the most active oil and gas region in the U.S. This provides strong volumetric-driven revenue visibility, underpinned by long-term, fee-based contracts.</li>
  <li>A disciplined financial policy, demonstrated by a strong dividend track record and a focus on free cash flow generation, offers an attractive return proposition for investors, though risks related to commodity price volatility and potential pipeline overcapacity in the region persist.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Kinetik is a pure-play midstream operator strategically positioned in the prolific Delaware Basin, a sub-basin of the Permian, providing integrated gathering, processing, and transportation services for natural gas, NGLs, crude oil, and water.
  The company is poised to benefit from sustained production growth in the Permian Basin, which remains the most active oil and gas region in the U.S. This provides strong volumetric-driven revenue visibility, underpinned by long-term, fee-based contracts.
  A disciplined financial policy, demonstrated by a strong dividend track record and a focus on free cash flow generation, offers an attractive return proposition for investors, though risks related to commodity price volatility and potential pipeline overcapacity in the region persist.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Kinetik Holdings  (KNTK US) - Aug 2026

<ul><li>Kinetik reported record adjusted EBITDA of $251 million in the first quarter of 2026, exceeding the high end of its prior guidance range, supported by solid performance across its commercial, operational, and financial segments.</li><li>Distributable cash flow stood at $181 million with free cash flow of $101 million.</li><li>The Midstream Logistics segment drove growth with a 12% year-over-year increase to $179 million in adjusted EBITDA on largely flat volumes, benefiting from Gulf Coast takeaway capacity and favorable spread-based marketing gains that offset significant volume curtailments caused by negative regional gas prices.</li></ul>

Kinetik reported record adjusted EBITDA of $251 million in the first quarter of 2026, exceeding the high end of its prior guidance range, supported by solid performance across its commercial, operational, and financial segments.Distributable cash flow stood at $181 million with free cash flow of $101 million.The Midstream Logistics segment drove growth with a 12% year-over-year increase to $179 million in adjusted EBITDA on largely flat volumes, benefiting from Gulf Coast takeaway capacity and favorable spread-based marketing gains that offset significant volume curtailments caused by negative regional gas prices.

Kinetik Holdings Holds Its $950 Million To $1.05 Billion EBITDA Outlook — Here’s Why!

<ul><li>Kinetik Holdings reported mixed results for the full year 2025 amid ongoing challenges in the energy sector, including commodity price volatility, inflationary pressures, and subdued customer development activity.</li><li>Despite these headwinds, the company managed to deliver year-over-year EBITDA growth, with adjusted EBITDA reaching $988 million, slightly above the midpoint of revised guidance.</li><li>The fourth quarter saw adjusted EBITDA of $252 million and distributable cash flow of $152 million, while free cash flow was negative $12 million.</li></ul>

Kinetik Holdings reported mixed results for the full year 2025 amid ongoing challenges in the energy sector, including commodity price volatility, inflationary pressures, and subdued customer development activity.Despite these headwinds, the company managed to deliver year-over-year EBITDA growth, with adjusted EBITDA reaching $988 million, slightly above the midpoint of revised guidance.The fourth quarter saw adjusted EBITDA of $252 million and distributable cash flow of $152 million, while free cash flow was negative $12 million.

Kinetik Holdings: A $988 Million EBITDA Base Faces Commodity Price Headwinds!

<ul><li>Kinetik's third quarter 2025 results present a mixed scenario influenced by both strategic developments and challenges due to commodity market volatility.</li><li>The company shows improvements on the operational front with the successful launch of the Kings Landing processing facility.</li><li>This expansion in New Mexico bolsters Kinetik’s capacity and positions it to support increased production in the region.</li></ul>

Kinetik's third quarter 2025 results present a mixed scenario influenced by both strategic developments and challenges due to commodity market volatility.The company shows improvements on the operational front with the successful launch of the Kings Landing processing facility.This expansion in New Mexico bolsters Kinetik’s capacity and positions it to support increased production in the region.

Kinetik Holdings Power Play: How Hedging & LNG Strategies Protect It From Waha Chaos Inside!

United States

Kinetik Holdings Inc. operates as a holding company. The Company, through its subsidiaries, focuses on providing gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. Kinetik Holdings serves customers in the United States.

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Kinetik Holdings (KNTK US)

Kinetik’s $560 Million Expansion Push Targets A Bigger Permian Opportunity!

Kinetik reported record second quarter results for 2026, driven by strong operational execution, system performance, and favorable commodity...

Baptista Research

Primer: Kinetik Holdings (KNTK US) - Aug 2026

Kinetik is a pure-play midstream operator strategically positioned in the prolific Delaware Basin, a sub-basin of the Permian, providing...

αSK Primers

Kinetik Holdings Holds Its $950 Million To $1.05 Billion EBITDA Outlook — Here’s Why!

Kinetik reported record adjusted EBITDA of $251 million in the first quarter of 2026, exceeding the high end of its prior guidance range,...

Baptista Research

Kinetik Holdings: A $988 Million EBITDA Base Faces Commodity Price Headwinds!

Kinetik Holdings reported mixed results for the full year 2025 amid ongoing challenges in the energy sector, including commodity price volatility,...

Baptista Research

Kinetik Holdings Power Play: How Hedging & LNG Strategies Protect It From Waha Chaos Inside!

Kinetik's third quarter 2025 results present a mixed scenario influenced by both strategic developments and challenges due to commodity market...

Baptista Research

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