Kinder Morgan Inc. said its third-quarter earnings fell 43% amid continued weakness in its carbon-dioxide segment, which has been hurt by low commodities prices.
Shares fell 5.2% to $29.80 in recent after-hours trading.
The pipeline giant also reported that its backlog of expansion and joint-venture investments reached $21.3 billion, compared with $22 billion in the second quarter. The company said in its news release Wednesday that since its second-quarter results its has completed nearly $400 million of projects, and removed roughly $1 billion in projects, mostly in its carbon-dioxide business, as low commodities prices have led to delays in projects.