Enterprise Products 3Q Net Rises on Higher Volumes

Dow Jones

Oct 29, 2024

By Rob Curran

Enterprise Products Partners posted third-quarter earnings growth as higher commodity volumes ran through its natural-gas, refined-products and oil pipeline networks.

The Houston-based pipeline company posted net income of $1.43 billion, or 65 cents a unit, up from $1.35 billion, or 63 cents a unit, a year earlier.

Enterprise Products posted distributable cash flow of $2 billion, rising 5% from a year earlier and surpassing the average analyst target of $1.97 billion, according to FactSet.

Revenue rose 15% to $13.78 billion, topping the average Wall Street peg of $13.48 billion based on analysts polled by FactSet.

Gross operating margin at its natural gas processing unit rose 27% to $371 million, on strength at its Permian Basin operations. At its natural-gas-liquids pipeline and storage unit, gross operating margin increased to $716 million, as volumes rose 6%. Gross operating margin at the natural-gas-liquids fractionation unit rose 25% to $248 million. Gross operating margin at the crude-oil pipeline and services unit fell to $401 million, as volumes declined. Gross operating margin at the natural-gas pipelines and services unit rose sharply to $349 million. Gross operating margin at the petrochemical and refined products fell 20% to $363 million, despite an increase in volumes.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

October 29, 2024 06:21 ET (10:21 GMT)

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Gross operating margin at the crud","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1150488218.USD":"First Eagle Amundi Income Builder AU2-MD USD","LU1150488135.SGD":"First Eagle Amundi Income Builder AHS-MD SGD-H","EPD":"Enterprise Products Partners L.P","BK4590":"PTP","BK4588":"碎股","BK4561":"索罗斯持仓","BK4585":"ETF&股票定投概念","BK4144":"石油与天然气的储存和运输"},"translate_title":"企业产品第三季度净增长因销量增加而增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EPD":0.9},"content_text":"By Rob Curran \n\n\n \n\n\n  Enterprise Products Partners posted third-quarter earnings growth as higher commodity volumes ran through its natural-gas, refined-products and oil pipeline networks. \n\n\n  The Houston-based pipeline company posted net income of $1.43 billion, or 65 cents a unit, up from $1.35 billion, or 63 cents a unit, a year earlier. \n\n\n  Enterprise Products posted distributable cash flow of $2 billion, rising 5% from a year earlier and surpassing the average analyst target of $1.97 billion, according to FactSet. \n\n\n  Revenue rose 15% to $13.78 billion, topping the average Wall Street peg of $13.48 billion based on analysts polled by FactSet. \n\n\n  Gross operating margin at its natural gas processing unit rose 27% to $371 million, on strength at its Permian Basin operations. 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Gross operating margin at the petrochemical and refined products fell 20% to $363 million, despite an increase in volumes. \n\n\n \n\n\n  Write to Rob Curran at rob.curran@dowjones.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 29, 2024 06:21 ET (10:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}