Kinder Morgan Canada faces pressure on Trans Mountain in its first earnings
CALGARY — Kinder Morgan Canada is facing mounting pressure to detail its plans for the Trans Mountain oil pipeline expansion when it releases its first earnings report Wednesday since going public.
Analysts and investors are hoping for clarity on the fate of the project, which has been thrust into question since John Horgan’s NDP in British Columbia wrestled power from the Liberals with the help of the Greens, who are staunchly opposed to the $7.4-billion development.
The company (TSX:KML), which has said it stands by the merits of the project, is scheduled to report its second-quarter results after markets close Wednesday, followed by a conference call with analysts.
“We expect KML-specific topics to be covered to include whether the Trans Mountain expansion project is on track for construction to begin in September 2017, as well as commentary on the NDP-led government in B.C.,” said RBC analyst Robert Kwan in a report to clients.