earnings
confidence high
sentiment positive
materiality 0.75
Enterprise Q3 net income $1.2B ($0.52/unit); record CFFO $2.4B; distribution up 1.1%
ENTERPRISE PRODUCTS PARTNERS L.P.
- Net income of $1.2B ($0.52/unit) vs $1.1B ($0.48/unit) YoY; includes $29M impairment.
- Record operating cash flow of $2.4B; distributable cash flow $1.6B with 1.6x coverage.
- Total gross operating margin $2.09B; Petrochemical segment record $411M (+31% YoY).
- Record natural gas pipeline volumes 14.6 TBtu/d; total liquids pipelines 6.3 MMBPD near pre-COVID.
- Growth capex guided ~$1.7B for 2021 and ~$800M for 2022; PDH II on track for Q2 2023.