Enterprise Products reports Q3 EPS 65c, consensus 66c

Reports Q3 revenue $13.78B, consensus $13.84B. “Enterprise reported another strong quarter as recently completed organic growth assets generated new sources of earnings and cash flow,” said A. J. , co-CEO. “Operationally, we set 5 volumetric records including 7.5 billion cubic feet per day of inlet natural gas processing volumes and 12.8 million BPD of total equivalent pipeline volumes. This activity contributed to an 8 percent increase in earnings per common unit and a 5% increase in distributable cash flow, which supported a 5 percent increase in the partnership’s cash distribution declared for Q3 compared to a year ago…Looking ahead to next year, we are on track to complete construction on two Permian processing plants, the Bahia pipeline, Fractionator 14, Phase 1 of our Neches River NGL Export Terminal and the last phase of our Morgan’s Point Terminal Flex Expansion in 2025. These projects provide visibility to new sources of cash flow for the partnership and enhance and expand the NGL value chain at the core of our business,” said Teague.