The earnings call highlighted strong financial performance with increased EBITDA and net income, as well as significant operational achievements and strategic acquisitions. However, some challenges such as increased sustaining capital expenditures and project delays were noted. Overall, the highlights outweigh the lowlights, reflecting a positive sentiment.

Company Guidance

During the third quarter 2024 earnings call for Enterprise Products Partners L.P. (EPD), several key financial and operational metrics were discussed. Adjusted EBITDA was reported at $2.4 billion, up from $2.3 billion in the same quarter last year. The company generated $2 billion in distributable cash flow, providing a coverage ratio of 1.7x, and retained $808 million of DCF, bringing the year-to-date total to $2.3 billion. Operationally, the company set records with 7.5 billion cubic feet per day in net natural gas processing volumes and 12.8 million barrels per day in equivalent pipeline volumes. Additionally, the company announced the completion of the Piñon Midstream acquisition, which is expected to enhance its Permian processing footprint. Capital investments for the quarter amounted to $1.2 billion, with the company maintaining its growth capital expenditure range for 2024 between $3.5 billion and $3.75 billion. The company's debt stood at $32.2 billion, with a weighted average cost of debt at 4.7% and a leverage ratio of 3.0x. The company also highlighted its focus on data analytics, which it uses for predictive maintenance, market analytics, and asset optimization.

Record Adjusted EBITDA

Reported adjusted EBITDA of $2.4 billion for Q3 2024, up from $2.3 billion in Q3 2023.

Net Income Increase

Net income attributable to common unitholders increased by 8% to $1.4 billion for Q3 2024.

Distributable Cash Flow

Generated $2 billion of distributable cash flow with coverage of 1.7x and retained $808 million of DCF.

Distribution Increase

Declared a distribution of $0.525 per common unit for Q3 2024, a $0.05 increase over Q3 2023.

New Project Developments

Completion of the Piñon Midstream acquisition and ongoing construction of new processing plants and pipeline expansions.

Operational Records

Set volumetric records in natural gas processing and pipeline volumes.

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Enterprise Products Partners (EPD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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EPD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 30, 2025	2024 (Q4)	0.71 / -	0.72	―	―	―
Oct 29, 2024	2024 (Q3)	0.67 / 0.65	0.6	8.33% (+0.05)
Jul 30, 2024	2024 (Q2)	0.66 / 0.64	0.57	12.28% (+0.07)
Apr 30, 2024	2024 (Q1)	0.67 / 0.66	0.64	3.13% (+0.02)
Feb 01, 2024	2023 (Q4)	0.68 / 0.72	0.652	10.43% (+0.07)
Oct 31, 2023	2023 (Q3)	0.64 / 0.60	0.633	-5.21% (-0.03)
Aug 01, 2023	2023 (Q2)	0.58 / 0.57	0.64	-10.94% (-0.07)
May 02, 2023	2023 (Q1)	0.61 / 0.64	0.6	6.67% (+0.04)
Feb 01, 2023	2022 (Q4)	0.62 / 0.65	0.47	38.72% (+0.18)
Nov 01, 2022	2022 (Q3)	0.62 / 0.63	0.53	19.43% (+0.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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EPD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$28.62	$28.58	-0.14%
Jul 30, 2024	$28.65	$28.51	-0.49%
Apr 30, 2024	$27.58	$27.09	-1.78%
Feb 01, 2024	$25.36	$25.39	+0.12%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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