Enterprise Products Partners Q3 Profit Rises, Revenue Up 16% - Quick Facts

(RTTNews) - Enterprise Products Partners L.P. (EPD) Thursday said third-quarter net income attributable to limited partners advanced to $592 million from $586.8 million in the previous year. Earnings per unit slid to $0.64 from $0.66.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues improved to $12.093 billion from $10.469 billion in the prior year, primarily attributable to higher NGL and crude oil sales volumes. Wall Street expected revenues of $12.17 billion.

Michael Creel, CEO of Enterprise's general partner, said, "Record volumes for our liquids pipelines, LPG export facility and NGL fractionators contributed to Enterprise's strong performance in the third quarter of 2013 with $1.2 billion of gross operating margin, which is a near record in a quarter that is seasonally one of our weakest."