Enterprise Products Partners L.P. Q3 Net Income Declines; Announces Four New Permian Growth Projects

(RTTNews) - Enterprise Products Partners L.P. (EPD) reported third quarter net income attributable to common unitholders of $1.3 billion, or $0.60 per common unit, compared to $1.4 billion, or $0.62 per common unit, last year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.64, for the quarter. Analysts' estimates typically exclude special items.

Third quarter revenues declined to $12.00 billion from $15.47 billion, prior year. Analysts on average had estimated $12.02 billion in revenue.

Separately, Enterprise Products Partners L.P. announced four new capital projects to support continuing production growth in the Permian Basin. The four projects include two natural gas processing plants, the Bahia NGL pipeline, NGL fractionator 14 and an associated deisobutanizer at Enterprise's Chambers County, Texas complex. Each of the projects is expected to begin service during 2025.

The partnership also has begun initial steps to return the Seminole Pipeline to natural gas liquid transportation service in December 2023.

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