Enterprise Products Partners Reports Q3 Results

HOUSTON – Enterprise Products Partners L.P. (NYSE:EPD) reported third quarter results on Tuesday, with earnings and revenue falling short of analyst estimates.

The midstream energy company posted adjusted earnings per unit of $0.65 for Q3, missing the consensus estimate of $0.67. Revenue came in at $13.78 billion, versus analyst projections of $13.9 billion.

Net income attributable to common unitholders rose 8% YoY to $1.4 billion in the third quarter. Distributable cash flow increased 5% to $2.0 billion compared to Q3 2023.

Enterprise reported record pipeline transportation volumes of 12.8 million barrels per day (BPD) in Q3, up from 12.2 million BPD a year ago. Natural gas processing plant inlet volumes also hit a record 7.5 billion cubic feet per day, an 11% YoY increase.

> “Enterprise reported another strong quarter as recently completed organic growth assets generated new sources of earnings and cash flow,” said Co-CEO A.J. "Jim" Teague.

The company declared a quarterly distribution of $0.525 per common unit for Q3, a 5% increase compared to the distribution for Q3 2023.

Enterprise maintained its 2024 growth capital investment forecast of $3.5 billion to $3.75 billion. For 2025, the company raised its expected range to $3.5 billion to $4.0 billion, citing new growth opportunities primarily in the Permian Basin.

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