Enterprise Products reports record Q2 net income of $1.4B; DCF up 30% to $2.0B

ENTERPRISE PRODUCTS PARTNERS L.P.

Record net income $1.4B ($0.64/unit) vs $1.1B ($0.50/unit) in Q2 2021, up 27%.
Distributable cash flow record $2.0B, up 30% YoY; distribution raised 5.6% to $0.475/unit, covered 1.9x.
NGL Pipelines & Services segment gross operating margin record $1.3B, up 21% YoY.
Capital investments $383M in Q2; $3.2B Navitas Midstream acquisition in Feb 2022; growth Capex guidance ~$1.6B.
Called $350M of Junior Subordinated Notes D due 2077 for redemption on Aug 31, 2022; using cash and commercial paper.

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