The performance of the Kinder Morgan Inc. (KMI) natural gas pipeline and storage assets during Winter Storm Uri drove a roughly $1.7 billion year/year earnings increase for the first quarter, leading it to raise full-year profit forecasts.

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CEO Steven Kean said KMI took several actions prior to and during February’s historic freeze to ensure the midstream giant’s systems, particularly in hard hit Texas and the central United States, could remain operational during the cold snap. Previous investments in assets, particularly gas storage assets, also “were a huge help,” he said.

“We were on maximum withdrawal for days at several of our fields,” Kean told investors Wednesday during the quarterly earnings call.

KMI deployed staff in advance of the storm to keep...