Enterprise Products Partners Q2 Profit Down - Quick Facts

(RTTNews) - Enterprise Products Partners L.P. (EPD) reported that its net income attributable to limited partners for the second quarter of 2015 decreased to $551.0 million from the prior year's $637.7 million, earnings per unit declining to $0.28 from $0.34 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share. Analysts' estimates typically exclude special items.

The second quarter of 2015 included non-cash asset impairment and related charges of $119 million, or $0.06 per unit, of which approximately $95 million was attributable to our offshore Gulf of Mexico business that was classified as held for sale at June 30, 2015. Enterprise completed the sale of its offshore business on July 24, 2015 for approximately $1.5 billion.

Revenues for the quarter dropped to $7.09 billion from $12.52 billion in the prior year. Wall Street expected revenues of $9.94 billion.