Enterprise Products reports Q4 EPS 74c, consensus 71c

Reports Q4 revenue $14.20B, consensus $14.13B. “Our record 2024 financial performance was driven by record volumes across our midstream system,” said co-CEO A. J. Teague. “For the year, we reported record natural gas processing inlet volumes of 7.4 Bcf/d, a 10% increase from 2023; record total equivalent pipeline volumes of 12.9 million BPD, a 6% increase compared to 2023; record NGL fractionation volumes of 1.6 million BPD, a 3% increase compared to 2023; and record marine terminal volumes of 2.2 million BPD, a 6% increase from 2023. The volume growth across our system was largely attributable to natural gas and NGL volume growth associated with our investments in Permian Basin infrastructure and our downstream value chain. We see these opportunities continuing for the next several years. We currently have approximately $7.6B of major growth capital projects under construction. These projects will go into service over the next three years. Substantially all of these projects are related to our natural gas and NGL businesses serving the Permian Basin and related expansions to our downstream infrastructure to support growing domestic and international demand. These projects are supported by long-term contracts and provide visibility to continuing net income and cash flow per unit growth,” said Teague.