The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Kinder Morgan (NYSE: KMI) and the rest of the infrastructure stocks fared in Q1.
Energy infrastructure companies build, own, and operate assets including pipelines, storage facilities, and processing plants that transport and handle oil, natural gas, and related products. These businesses often generate fee-based revenues providing cash flow stability. Tailwinds include growing production volumes requiring expanded takeaway capacity and export infrastructure demand. Long-term contracts with creditworthy counterparties reduce commodity price exposure. Headwinds include permitting and regulatory challenges delaying new projects, environmental opposition to pipeline construction, and potential long-term demand decline from energy transition. High capital intensity and interest rate sensitivity affecting financing costs present additional considerations.
The 8 infrastructure stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 14.9%.
While some infrastructure stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.6% since the latest earnings results.
Best Q1: Kinder Morgan (NYSE: KMI)
Operating what amounts to the toll roads of the energy industry, Kinder Morgan (NYSE: KMI) transports natural gas, refined petroleum products, and crude oil through its pipeline network across North America.
Kinder Morgan reported revenues of $4.83 billion, up 13.8% year on year. This print exceeded analysts’ expectations by 3.3%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS and EBITDA estimates.
The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $31.82.
Is now the time to buy Kinder Morgan? Access our full analysis of the earnings results here, it’s free.
Expand Energy (NASDAQ: EXE)
Rebranded from Chesapeake Energy in 2024 after emerging from bankruptcy, Expand Energy (NASDAQ: EXE) produces natural gas, oil, and natural gas liquids from underground shale formations in Louisiana, Pennsylvania, Ohio, and West Virginia.
Expand Energy reported revenues of $4.53 billion, up 41% year on year, outperforming analysts’ expectations by 48.2%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA and EPS estimates.
Expand Energy scored the biggest analyst estimate beat among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.8% since reporting. It currently trades at $90.35.
Is now the time to buy Expand Energy? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Genesis Energy (NYSE: GEL)
Operating a 64% stake in the Poseidon Pipeline, one of the Gulf of Mexico's largest crude oil pipelines, Genesis Energy (NYSE: GEL) provides midstream services like pipeline transportation, storage, and processing for crude oil and natural gas producers and refiners.
Genesis Energy reported revenues of $446.6 million, up 12.1% year on year, exceeding analysts’ expectations by 11.4%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS and EBITDA estimates.
As expected, the stock is down 12.3% since the results and currently trades at $14.40.
Read our full analysis of Genesis Energy’s results here.
Tenaris (NYSE: TEN)
Operating industrial facilities across the Americas, Europe, Middle East, and Asia, Tenaris (NYSE: TEN) manufactures seamless and welded steel pipes used in oil and gas drilling and transportation.
Tenaris reported revenues of $253 million, up 28.4% year on year. This number beat analysts’ expectations by 17.1%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS and EBITDA estimates.
The stock is down 15.3% since reporting and currently trades at $37.37.
Read our full, actionable report on Tenaris here, it’s free.
DHT Holdings (NYSE: DHT)
With each vessel capable of carrying roughly 2 million barrels of oil—enough to fill about 125 Olympic swimming pools—DHT Holdings (NYSE: DHT) operates very large crude carriers that transport crude oil across international routes for energy companies and traders.
DHT Holdings reported revenues of $157.4 million, up 97.4% year on year. This result topped analysts’ expectations by 3.8%. It was a strong quarter as it also put up a beat of analysts’ EPS estimates and a narrow beat of analysts’ EBITDA estimates.
DHT Holdings achieved the fastest revenue growth among its peers. The stock is down 9.7% since reporting and currently trades at $17.25.
Read our full, actionable report on DHT Holdings here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
