By Rob Curran
Enterprise Products Partners posted fourth-quarter net income growth amid higher volumes on its natural-gas pipeline networks.
The Houston-based pipeline company posted earnings of $1.63 billion, or 74 cents a unit, up from $1.60 billion, or 72 cents a unit, a year earlier. On average, analysts ahd targeted earnings of 70 cents a unit, as per FactSet.
Revenue fell 2.9% to $14.20 billion, topping the average analyst target of $14.01 billion, according to FactSet. The company cited investments in its Permian Basin pipelines and downstream infrastructure for increased volumes.
At its natural-gas-liquids pipeline and services unit, gross operating margin rose 12% to $1.5 billion, on higher volumes.
Gross operating margin at the natural-gas pipel323 million, as natural gas transportation volumes expanded by 5%. Gross operating margin at the crude-oil pipeline and services unit fell 8.6% to $417 million as volumes fell slightly. Gross operating margin at the petrochemical and refined products fell 21% to $348 million, despite an increase in volumes. ine and services unit rose 13% to $
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 04, 2025 06:43 ET (11:43 GMT)
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