Enterprise Products Partners ( (EPD) ) has released its Q4 earnings. Here is a breakdown of the information Enterprise Products Partners presented to its investors.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Enterprise Products Partners L.P., a leading North American provider of midstream energy services, specializes in the transportation and storage of natural gas, natural gas liquids (NGLs), crude oil, and petrochemicals. The company operates an extensive network of pipelines and storage facilities across the United States.
For the fourth quarter of 2024, Enterprise Products Partners reported a net income of $1.6 billion, a 3% increase from the previous year, and achieved record volumes in several of its business segments. The company declared distributions that increased by 3.9% compared to the previous year, highlighting its continued distribution growth for the 26th consecutive year.
Key financial metrics for 2024 include a record net income of $5.9 billion, representing a 7% increase from 2023, and a distributable cash flow (DCF) of $7.8 billion. The company also invested $5.5 billion in capital projects, including the acquisition of Pinon Midstream, and repurchased $219 million of its common units. Enterprise’s operational successes were driven by significant volume growth in natural gas and NGL businesses, supported by investments in the Permian Basin.
Looking ahead, Enterprise Products Partners plans to execute $7.6 billion in major growth capital projects over the next three years, predominantly focused on the natural gas and NGL sectors in the Permian Basin. The company expects these projects to bolster cash flow and support further distribution increases, providing a positive outlook for continued financial growth.
