Today, I’m convinced, is the financial media’s favorite day of the year.
For the next 24 hours, they have something to parrot from one show to the next.
That’s because Goldman Sachs (NYSE: GS) reported fourth-quarter earnings before the bell this morning, beating the ever-lowering expectations of Wall Street analysts.
And we all know how much CNBC loves to talk about these Masters of the Universe and what Goldman’s earnings mean for 2012.
An equally important company will report earnings after the bell. But it will receive far less coverage.
Later today, Kinder Morgan (NYSE: KMI), master limited partnership Kinder Morgan Energy Partners (NYSE:KMP), and limited partner Kinder Morgan Management (NYSE: KMR) will all report earnings for the first time since the parent company engaged in the largest energy deal of 2011 – the $37.8 billion KMI-El Paso merger.
And here’s the thing: I’m not worried if Kinder Morgan beats earnings estimates or not.
I’m more interested in its general performance. That’s because of what Kinder Morgan does and what it represents. This company’s recent activities provide a glimpse of the domestic energy picture and the major trends moving forward, particularly in the natural gas markets.
Put simply, we can learn from Kinder Morgan.