Enterprise Reports Results for Third Quarter 2024
Enterprise Products Partners (EPD) reported strong Q3 2024 financial results with net income of $1.4 billion ($0.65 per unit), up 8% from Q3 2023. Distributable Cash Flow increased 5% to $2.0 billion, with distributions rising 5% to $0.525 per unit. The company achieved record volumes including 7.5 Bcf/d of natural gas processing and 12.8 million BPD of total equivalent pipeline volumes.
Total capital investments were $1.2 billion in Q3, with $1.1 billion for growth projects. Enterprise updated its 2025 organic growth capital investment range to $3.5-4.0 billion, reflecting new opportunities in the Permian Basin following the Piñon Midstream acquisition.
Enterprise Products Partners (EPD) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un utile netto di 1,4 miliardi di dollari (0,65 dollari per unità), in aumento dell'8% rispetto al terzo trimestre del 2023. Il flusso di cassa distribuibile è aumentato del 5% raggiungendo i 2,0 miliardi di dollari, con i dividendi in aumento del 5% a 0,525 dollari per unità. L'azienda ha raggiunto volumi record, tra cui 7,5 Bcf/d di lavorazione di gas naturale e 12,8 milioni di BPD di volumi totali di pipeline equivalenti.
Gli investimenti totali in capitale sono stati di 1,2 miliardi di dollari nel terzo trimestre, con 1,1 miliardi destinati a progetti di crescita. Enterprise ha aggiornato il suo intervallo di investimento in capitale per la crescita organica nel 2025 a 3,5-4,0 miliardi di dollari, riflettendo nuove opportunità nella Permian Basin a seguito dell'acquisizione di Piñon Midstream.
Enterprise Products Partners (EPD) reportó resultados financieros sólidos para el tercer trimestre de 2024, con un ingreso neto de 1.4 mil millones de dólares (0.65 dólares por unidad), un aumento del 8% en comparación con el tercer trimestre de 2023. El flujo de efectivo distribuible aumentó un 5% alcanzando los 2.0 mil millones de dólares, y las distribuciones también subieron un 5% a 0.525 dólares por unidad. La compañía alcanzó volúmenes récord, incluyendo 7.5 Bcf/d de procesamiento de gas natural y 12.8 millones de BPD de volúmenes totales equivalentes de tuberías.
Las inversiones de capital totales fueron de 1.2 mil millones de dólares en el tercer trimestre, de los cuales 1.1 mil millones fueron destinados a proyectos de crecimiento. Enterprise actualizó su rango de inversión en capital para el crecimiento orgánico en 2025 a 3.5-4.0 mil millones de dólares, reflejando nuevas oportunidades en la Cuenca Permiana tras la adquisición de Piñon Midstream.
Enterprise Products Partners (EPD)는 2024년 3분기 강력한 재무 결과를 보고하며, 순이익이 14억 달러 (단위당 0.65달러)로, 2023년 3분기 대비 8% 증가했습니다. 배당 가능한 현금 흐름이 5% 증가하여 20억 달러에 달하고, 배당금도 5% 상승하여 단위당 0.525달러에 이르렀습니다. 이 회사는 7.5 Bcf/d의 천연가스 가공량과 1280만 BPD의 총 파이프라인 등가량을 포함한 기록적인 물량을 달성했습니다.
전체 자본 투자액은 3분기 동안 12억 달러였으며, 이중 11억 달러는 성장 프로젝트에 사용되었습니다. Enterprise는 Piñon Midstream 인수 이후 Permian Basin에서의 새로운 기회를 반영하여 2025년 유기적 성장 자본 투자 범위를 35억-40억 달러로 업데이트했습니다.
Enterprise Products Partners (EPD) a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec un revenu net de 1,4 milliard de dollars (0,65 dollar par unité), en hausse de 8 % par rapport au troisième trimestre 2023. Le flux de trésorerie distribuable a augmenté de 5% pour atteindre 2,0 milliards de dollars, les distributions ayant également augmenté de 5 % pour atteindre 0,525 dollar par unité. L'entreprise a atteint des volumes records, y compris 7,5 Bcf/j de transformation de gaz naturel et 12,8 millions de BPD de volumes totaux équivalents de pipeline.
Les investissements en capital totaux se sont élevés à 1,2 milliard de dollars au troisième trimestre, dont 1,1 milliard de dollars pour des projets de croissance. Enterprise a mis à jour sa fourchette d'investissements en capital pour la croissance organique en 2025 à 3,5-4,0 milliards de dollars, reflétant de nouvelles opportunités dans le Permian Basin suite à l'acquisition de Piñon Midstream.
Enterprise Products Partners (EPD) hat im dritten Quartal 2024 starke finanzielle Ergebnisse berichtet, mit einem Nettoertrag von 1,4 Milliarden Dollar (0,65 Dollar pro Einheit), was einem Anstieg von 8% im Vergleich zum dritten Quartal 2023 entspricht. Der ausschüttbare Cashflow stieg um 5% auf 2,0 Milliarden Dollar, während die Ausschüttungen um 5% auf 0,525 Dollar pro Einheit anstiegen. Das Unternehmen erzielte Rekordmengen, darunter 7,5 Bcf/d bei der Verarbeitung von Erdgas und 12,8 Millionen BPD bei den gesamten äquivalenten Pipeline-Mengen.
Die Gesamtkapitalinvestitionen betrugen im dritten Quartal 1,2 Milliarden Dollar, davon 1,1 Milliarden Dollar für Wachstumsprojekte. Enterprise aktualisierte seine Bandbreite für die organischen Wachstumsinvestitionen für 2025 auf 3,5-4,0 Milliarden Dollar, was neue Möglichkeiten im Permian-Becken nach der Übernahme von Piñon Midstream widerspiegelt.
- Net income increased 8% to $1.4 billion ($0.65 per unit)
- Distributable Cash Flow rose 5% to $2.0 billion
- Quarterly distribution increased 5% to $0.525 per unit
- Set 5 volumetric records including 7.5 Bcf/d gas processing volumes
- Strong liquidity position of $5.6 billion
- Total debt principal outstanding reached $32.2 billion
- Crude Oil Pipelines & Services segment margin declined from $432M to $401M
- Petrochemical & Refined Products margin decreased from $453M to $363M
- Octane enhancement business saw $68M decrease in gross operating margin
Insights
Enterprise Products Partners delivered strong Q3 2024 results with several key metrics showing improvement: net income rose 8% to
Notable operational achievements include record volumes across 5 categories, with natural gas processing reaching 7.5 Bcf/d and total equivalent pipeline volumes hitting 12.8 million BPD. The company's strategic growth continues with
The balance sheet remains solid with
Enterprise reported net income attributable to common unitholders of
Distributable Cash Flow (“DCF”) was
Enterprise repurchased approximately
Adjusted cash flow from operations (“Adjusted CFFO”) was
Total capital investments were
Total debt principal outstanding at September 30, 2024 was
Conference Call to Discuss Third Quarter 2024 Earnings
Enterprise will host a conference call today to discuss third quarter 2024 earnings. The call will be webcast live beginning at 9:00 a.m. CT and may be accessed by visiting the partnership’s website at www.enterpriseproducts.com.
Third Quarter 2024 Financial Highlights
|
Three Months Ended
|
||||
|
2024 |
2023 |
|||
($ in millions, except per unit amounts) |
|
|
|||
Operating income (1) |
$ |
1,780 |
$ |
1,695 |
|
Net income (1) (2) |
$ |
1,432 |
$ |
1,350 |
|
Fully diluted earnings per common unit |
$ |
0.65 |
$ |
0.60 |
|
Total gross operating margin (1) (3) |
$ |
2,454 |
$ |
2,331 |
|
Adjusted EBITDA (3) |
$ |
2,442 |
$ |
2,327 |
|
Adjusted CFFO (3) |
$ |
2,108 |
$ |
2,021 |
|
Adjusted FCF (3) |
$ |
943 |
$ |
1,173 |
|
DCF (3) |
$ |
1,957 |
$ |
1,869 |
|
Operational DCF (3) |
$ |
1,956 |
$ |
1,868 |
(1) |
Operating income, net income, and gross operating margin include non-cash, mark-to-market (“MTM”) gains on financial instruments used in our commodity hedging activities of |
|
(2) |
Net income for the third quarters of 2024 and 2023 includes non-cash, asset impairment charges of approximately |
|
(3) |
Total gross operating margin, adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), Adjusted CFFO, adjusted free cash flow (“Adjusted FCF”), DCF and Operational Distributable Cash Flow (“Operational DCF”) are non-generally accepted accounting principle (“non-GAAP”) financial measures that are defined and reconciled later in this press release. |
Third Quarter 2024 Volume Highlights
Three Months Ended
|
||
|
2024 |
2023 |
Equivalent pipeline transportation volumes (million BPD) (1) |
12.8 |
12.2 |
NGL, crude oil, refined products & petrochemical pipeline volumes (million BPD) |
7.7 |
7.4 |
Marine terminal volumes (million BPD) |
2.1 |
2.1 |
Natural gas pipeline volumes (TBtus/d) |
19.1 |
18.4 |
NGL fractionation volumes (million BPD) |
1.6 |
1.5 |
Propylene plant production volumes (MBPD) |
113 |
103 |
Natural gas processing plant inlet volumes (Bcf/d) |
7.5 |
6.8 |
Fee-based natural gas processing volumes (Bcf/d) |
6.8 |
5.9 |
Equity NGL-equivalent production volumes (MBPD) |
204 |
184 |
(1) |
Represents total NGL, crude oil, refined products and petrochemical transportation volumes plus equivalent energy volumes where 3.8 million British thermal units (“MMBtus”) of natural gas transportation volumes are equivalent to one barrel of NGLs transported. |
|
As used in this press release, “NGL” means natural gas liquids, “LPG” means liquefied petroleum gas, “BPD” means barrels per day, “MBPD” means thousand barrels per day, “MMcf/d” means million cubic feet per day, “Bcf/d” means billion cubic feet per day, “BBtus/d” means billion British thermal units per day and “TBtus/d” means trillion British thermal units per day. |
“Enterprise reported another strong quarter as recently completed organic growth assets generated new sources of earnings and cash flow,” said A. J. “Jim”
“In addition to contributions from 3 natural gas processing plants that began commercial operations within the last 12 months, we also realized improvements in natural gas processing margins and a
“As we discussed at our Investor Day, one of our main operating objectives for 2024 was to address and increase the reliability and utilization rates for our two propane dehydrogenation (PDH) plants. We would like to recognize the tireless efforts of over 200 of our employees at
“We completed the acquisition of Piñon Midstream on October 28th. These assets are highly complementary to our Permian processing footprint and a strategic addition that extends our NGL value chain upstream providing treating services in the eastern flank of the
Review of Third Quarter 2024 Results
Total gross operating margin was
NGL Pipelines & Services – Gross operating margin from the NGL Pipelines & Services segment was
Gross operating margin from the natural gas processing business and related NGL marketing activities increased 27 percent to
-
Gross operating margin from Permian natural gas processing facilities, including the
Midland andDelaware Basin assets, increased primarily due to higher processing volumes and higher average processing margins, including the favorable impact of hedging. Three Permian natural gas processing plants went into service in the trailing 12-month period, including the$79 million Mentone 2 train in October 2023 and the Leonidas andMentone 3 trains in March of 2024. Permian processing plant inlet volumes increased 917 MMcf/d, including increases of 500 MMcf/d in theDelaware Basin and 417 MMcf/d in theMidland Basin. -
Gross operating margin from NGL marketing activities increased
primarily due to higher sales volumes.$19 million -
Gross operating margin from
South Texas natural gas processing facilities decreased primarily due to higher operating costs and lower average processing margins.$9 million South Texas plant inlet volumes decreased 70 MMcf/d. -
Gross operating margin from Rockies natural gas processing facilities decreased
primarily due to lower average processing margins. Rockies plant inlet volumes increased 10 MMcf/d.$7 million
Gross operating margin from the NGL pipelines and storage business was
-
Gross operating margin from the Enterprise Hydrocarbons Terminal (“EHT”) increased
primarily due to a 114 MBPD increase in LPG export volumes. Gross operating margin from the Morgan’s Point Ethane Export Terminal decreased$15 million in part due to higher operating costs. Morgan’s Point export volumes increased 2 MBPD. Gross operating margin from the Houston Ship Channel Pipeline System increased$12 million in connection with a 96 MBPD increase in transportation volumes.$5 million -
On a combined basis, the pipelines serving the Permian and Rocky Mountain regions reported a
increase in gross operating margin. This includes the Mid-America,$14 million Seminole , Shin Oak, and Chaparral NGL pipeline systems. The favorable variance was primarily driven by a 186 MBPD, net to our interest, increase in transportation volumes partially offset by higher operating costs. -
Gross operating margin from the Eastern Ethane Pipelines decreased
primarily due to a combined 11 MBPD decrease in transportation volumes.$10 million
Gross operating margin from the NGL fractionation business increased 25 percent to
-
Gross operating margin from our
Mont Belvieu area NGL fractionation complex increased primarily due to lower operating costs, higher fractionation volumes, and higher ancillary revenues. Fractionation volumes increased 97 MBPD, net to our interest. The increase in volume and gross operating margin was in part attributable to the benefit of a full quarter of operations at our 12th NGL fractionator at this facility, which was placed in service in July 2023. Fractionation volumes also benefited from the acquisition of the remaining 25 percent equity interest in fractionators 7 and 8 in February 2024.$44 million
Crude Oil Pipelines & Services – Gross operating margin from the Crude Oil Pipelines & Services segment was
-
On a combined basis, our
Texas in-basin crude oil pipelines, terminals and other marketing activities reported a decrease in gross operating margin primarily due to lower average sales margins, lower sales volumes, and higher operating costs partially offset by higher non-cash MTM results. Transportation volumes, net to our interest, increased 2 MBPD.$35 million
Natural Gas Pipelines & Services – Gross operating margin for the Natural Gas Pipelines & Services segment was
-
Gross operating margin from our natural gas marketing business increased
primarily due to higher average sales margins.$55 million -
Gross operating margin from the Texas Intrastate System increased
primarily due to higher transportation revenues. Transportation volumes decreased 61 BBtus/d.$39 million -
Permian natural gas gathering, including
Delaware Basin andMidland Basin Gathering Systems, reported a combined increase in gross operating margin primarily due to a 1.1 TBtus/d increase in gathering volumes, partially offset by higher operating costs.$13 million
Petrochemical & Refined Products Services – Gross operating margin for the Petrochemical & Refined Products Services segment was
-
Propylene production and related activities reported an
increase in gross operating margin. Our propylene production facilities reported higher average sales margins and lower operating costs that were partially offset by lower propylene processing revenues. Total propylene and associated by-product production volumes was 113 MBPD, net to our interest. The PDH 2 facility, which was placed in service in July 2023, completed a scheduled turnaround in the third quarter of 2024.$8 million -
Gross operating margin from our octane enhancement and related plant operations decreased
primarily due to lower average sales margins, including the impact of hedges, and lower sales volumes. This business experienced record performance in 2023 due to strong prices in the international market for octane.$68 million -
Gross operating margin from our refined products pipelines and related activities decreased
primarily due to lower average sales margins.$26 million
Use of Non-GAAP Financial Measures
This press release and accompanying schedules include the non-GAAP financial measures of total gross operating margin, Adjusted CFFO, FCF, Adjusted FCF, DCF, Operational DCF and Adjusted EBITDA. The accompanying schedules provide definitions of these non-GAAP financial measures and reconciliations to their most directly comparable financial measure calculated and presented in accordance with GAAP. Our non-GAAP financial measures should not be considered as alternatives to GAAP measures such as net income, operating income, net cash flow provided by operating activities or any other measure of financial performance calculated and presented in accordance with GAAP. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies because they may not calculate such measures in the same manner as we do.
Company Information and Use of Forward-Looking Statements
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage and marine terminals; and a marine transportation business that operates on key
This press release includes forward-looking statements. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve certain risks and uncertainties, such as the partnership’s expectations regarding future results, capital expenditures, project completions, liquidity and financial market conditions. These risks and uncertainties include, among other things, insufficient cash from operations, adverse market conditions, governmental regulations and other factors discussed in Enterprise’s filings with the
Enterprise Products Partners L.P. |
Exhibit A |
||||||||||||||
Condensed Statements of Consolidated Operations – UNAUDITED |
|||||||||||||||
($ in millions, except per unit amounts) |
|
|
|
||||||||||||
|
For the Three Months
|
For the Nine Months
|
For the Twelve
|
||||||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
||||||||||
Revenues |
$ |
13,775 |
|
$ |
11,998 |
|
$ |
42,018 |
|
$ |
35,093 |
|
$ |
56,640 |
|
Costs and expenses: |
|
|
|
|
|
||||||||||
Operating costs and expenses |
|
12,033 |
|
|
10,366 |
|
|
36,769 |
|
|
30,260 |
|
|
49,526 |
|
General and administrative costs |
|
61 |
|
|
59 |
|
|
184 |
|
|
172 |
|
|
243 |
|
Total costs and expenses |
|
12,094 |
|
|
10,425 |
|
|
36,953 |
|
|
30,432 |
|
|
49,769 |
|
Equity in income of unconsolidated affiliates |
|
99 |
|
|
122 |
|
|
302 |
|
|
347 |
|
|
417 |
|
Operating income |
|
1,780 |
|
|
1,695 |
|
|
5,367 |
|
|
5,008 |
|
|
7,288 |
|
Other income (expense): |
|
|
|
|
|
||||||||||
Interest expense |
|
(343 |
) |
|
(328 |
) |
|
(1,006 |
) |
|
(944 |
) |
|
(1,331 |
) |
Other, net |
|
14 |
|
|
5 |
|
|
31 |
|
|
36 |
|
|
36 |
|
Total other expense, net |
|
(329 |
) |
|
(323 |
) |
|
(975 |
) |
|
(908 |
) |
|
(1,295 |
) |
Income before income taxes |
|
1,451 |
|
|
1,372 |
|
|
4,392 |
|
|
4,100 |
|
|
5,993 |
|
Provision for income taxes |
|
(19 |
) |
|
(22 |
) |
|
(55 |
) |
|
(45 |
) |
|
(54 |
) |
Net income |
|
1,432 |
|
|
1,350 |
|
|
4,337 |
|
|
4,055 |
|
|
5,939 |
|
Net income attributable to noncontrolling interests |
|
(14 |
) |
|
(31 |
) |
|
(56 |
) |
|
(91 |
) |
|
(90 |
) |
Net income attributable to preferred units |
|
(1 |
) |
|
(1 |
) |
|
(3 |
) |
|
(3 |
) |
|
(3 |
) |
Net income attributable to common unitholders |
$ |
1,417 |
|
$ |
1,318 |
|
$ |
4,278 |
|
$ |
3,961 |
|
$ |
5,846 |
|
Per common unit data (fully diluted): |
|
|
|
|
|
||||||||||
Earnings per common unit |
$ |
0.65 |
|
$ |
0.60 |
|
$ |
1.95 |
|
$ |
1.81 |
|
$ |
2.67 |
|
Average common units outstanding (in millions) |
|
2,192 |
|
|
2,194 |
|
|
2,193 |
|
|
2,195 |
|
|
2,193 |
|
|
|
|
|
|
|
||||||||||
Supplemental financial data: |
|
|
|
|
|
||||||||||
Net cash flow provided by operating activities |
$ |
2,072 |
|
$ |
1,718 |
|
$ |
5,757 |
|
$ |
5,203 |
|
$ |
8,123 |
|
Net cash flow used in investing activities |
$ |
1,152 |
|
$ |
818 |
|
$ |
3,433 |
|
$ |
2,220 |
|
$ |
4,410 |
|
Net cash flow provided by (used in) financing activities |
$ |
319 |
|
$ |
(863 |
) |
$ |
(971 |
) |
$ |
(2,875 |
) |
$ |
(2,354 |
) |
Total debt principal outstanding at end of period |
$ |
32,221 |
|
$ |
29,191 |
|
$ |
32,221 |
|
$ |
29,191 |
|
$ |
32,221 |
|
|
|
|
|
|
|
||||||||||
Non-GAAP Distributable Cash Flow (1) |
$ |
1,957 |
|
$ |
1,869 |
|
$ |
5,684 |
|
$ |
5,542 |
|
$ |
7,743 |
|
Non-GAAP Operational Distributable Cash Flow (1) |
$ |
1,956 |
|
$ |
1,868 |
|
$ |
5,706 |
|
$ |
5,514 |
|
$ |
7,730 |
|
Non-GAAP Adjusted EBITDA (2) |
$ |
2,442 |
|
$ |
2,327 |
|
$ |
7,300 |
|
$ |
6,819 |
|
$ |
9,799 |
|
Non-GAAP Adjusted Cash flow from operations (3) |
$ |
2,108 |
|
$ |
2,021 |
|
$ |
6,320 |
|
$ |
5,909 |
|
$ |
8,535 |
|
Non-GAAP Free Cash Flow (4) |
$ |
907 |
|
$ |
870 |
|
$ |
2,273 |
|
$ |
2,887 |
|
$ |
3,642 |
|
Non-GAAP Adjusted Free Cash Flow (4) |
$ |
943 |
|
$ |
1,173 |
|
$ |
2,836 |
|
$ |
3,593 |
|
$ |
4,054 |
|
Gross operating margin by segment: |
|
|
|
|
|
||||||||||
NGL Pipelines & Services |
$ |
1,335 |
|
$ |
1,196 |
|
$ |
4,000 |
|
$ |
3,518 |
|
$ |
5,380 |
|
Crude Oil Pipelines & Services |
|
401 |
|
|
432 |
|
|
1,229 |
|
|
1,251 |
|
|
1,685 |
|
Natural Gas Pipelines & Services |
|
349 |
|
|
239 |
|
|
954 |
|
|
791 |
|
|
1,240 |
|
Petrochemical & Refined Products Services |
|
363 |
|
|
453 |
|
|
1,199 |
|
|
1,255 |
|
|
1,638 |
|
Total segment gross operating margin (5) |
|
2,448 |
|
|
2,320 |
|
|
7,382 |
|
|
6,815 |
|
|
9,943 |
|
Net adjustment for shipper make-up rights (6) |
|
6 |
|
|
11 |
|
|
(26 |
) |
|
32 |
|
|
(39 |
) |
Non-GAAP total gross operating margin (7) |
$ |
2,454 |
|
$ |
2,331 |
|
$ |
7,356 |
|
$ |
6,847 |
|
$ |
9,904 |
|
(1) |
See Exhibit F for reconciliation to GAAP net cash flow provided by operating activities. |
(2) |
See Exhibit G for reconciliation to GAAP net cash flow provided by operating activities. |
(3) |
See Exhibit E for reconciliation to GAAP net cash flow provided by operating activities. |
(4) |
See Exhibit D for reconciliation to GAAP net cash flow provided by operating activities. |
(5) |
Within the context of this table, total segment gross operating margin represents a subtotal and corresponds to measures similarly titled within the financial statement footnotes provided in our quarterly and annual filings with the |
(6) |
Gross operating margin by segment for NGL Pipelines & Services and Crude Oil Pipelines & Services reflects adjustments for non-refundable deferred transportation revenues relating to the make-up rights of committed shippers on certain major pipeline projects. These adjustments are included in managements’ evaluation of segment results. However, these adjustments are excluded from non-GAAP total gross operating margin in compliance with guidance from the SEC. |
(7) |
See Exhibit H for reconciliation to GAAP total operating income.
|
Enterprise Products Partners L.P. |
Exhibit B |
||||
Selected Operating Data – UNAUDITED |
|||||
|
|
|
|
||
|
For the Three Months
|
For the Nine Months
|
For the Twelve
|
||
|
2024 |
2023 |
2024 |
2023 |
2024 |
Selected operating data: (1) |
|
|
|
|
|
NGL Pipelines & Services, net: |
|
|
|
|
|
NGL pipeline transportation volumes (MBPD) |
4,223 |
3,974 |
4,216 |
3,965 |
4,226 |
NGL marine terminal volumes (MBPD) |
887 |
771 |
886 |
787 |
895 |
NGL fractionation volumes (MBPD) |
1,611 |
1,519 |
1,599 |
1,528 |
1,599 |
Equity NGL-equivalent production volumes (MBPD) (2) |
204 |
184 |
202 |
173 |
197 |
Fee-based natural gas processing volumes (MMcf/d) (3,4) |
6,804 |
5,928 |
6,561 |
5,717 |
6,481 |
Natural gas processing inlet volumes (MMcf/d) (5) |
7,526 |
6,756 |
7,333 |
6,587 |
7,264 |
Crude Oil Pipelines & Services, net: |
|
|
|
|
|
Crude oil pipeline transportation volumes (MBPD) |
2,537 |
2,560 |
2,482 |
2,409 |
2,513 |
Crude oil marine terminal volumes (MBPD) |
910 |
988 |
992 |
881 |
994 |
Natural Gas Pipelines & Services, net: |
|
|
|
|
|
Natural gas pipeline transportation volumes (BBtus/d) (6) |
19,090 |
18,440 |
18,685 |
18,244 |
18,694 |
Petrochemical & Refined Products Services, net: |
|
|
|
|
|
Propylene production volumes (MBPD) |
113 |
103 |
102 |
104 |
102 |
Butane isomerization volumes (MBPD) |
116 |
112 |
117 |
110 |
117 |
Standalone DIB processing volumes (MBPD) |
191 |
185 |
199 |
170 |
197 |
Octane enhancement and related plant sales volumes (MBPD) (7) |
37 |
41 |
37 |
34 |
38 |
Pipeline transportation volumes, primarily refined products and petrochemicals (MBPD) |
979 |
826 |
928 |
817 |
928 |
Refined products and petrochemicals marine terminal volumes (MBPD) (8) |
275 |
331 |
315 |
311 |
323 |
Total, net: |
|
|
|
|
|
NGL, crude oil, petrochemical and refined products pipeline transportation volumes (MBPD) |
7,739 |
7,360 |
7,626 |
7,191 |
7,667 |
Natural gas pipeline transportation volumes (BBtus/d) |
19,090 |
18,440 |
18,685 |
18,244 |
18,694 |
Equivalent pipeline transportation volumes (MBPD) (9) |
12,763 |
12,213 |
12,543 |
11,992 |
12,586 |
NGL, crude oil, refined products and petrochemical marine terminal volumes (MBPD) |
2,072 |
2,090 |
2,193 |
1,979 |
2,212 |
(1) |
Operating rates are reported on a net basis, which take into account our ownership interests in certain joint ventures and include volumes for newly constructed assets from the related in-service dates and for recently purchased assets from the related acquisition dates. |
(2) |
Primarily represents the NGL and condensate volumes we earn and take title to in connection with our processing activities. The total equity NGL-equivalent production volumes also include residue natural gas volumes from our natural gas processing business. |
(3) |
Volumes reported correspond to the revenue streams earned by our gas plants. “MMcf/d” means million cubic feet per day. |
(4) |
Fee-based natural gas processing volumes are measured at either the wellhead or plant inlet in MMcf/d. |
(5) |
Natural gas processing inlet volumes is an operational measure representing the physical, unprocessed rich natural gas passing through meters located at or near the inlet of our natural gas processing plants or at the wellhead for all natural gas processing facilities that we operate. Substantially all natural gas processing inlet volumes are processed under service contracts that are either fee-based, commodity-based or a combination of both. Natural gas processing inlet volumes are reflected in “Fee-based natural gas processing volumes” for volumes processed under fee-based service contracts, “Equity NGL-equivalent production volumes” for volumes processed under commodity-based service contracts or both of the aforementioned categories for volumes processed under service contracts that have both fee and commodity-based terms. |
(6) |
“BBtus/d” means billion British thermal units per day. |
(7) |
Reflects aggregate sales volumes for our octane enhancement and isobutane dehydrogenation (“iBDH”) facilities located at our |
(8) |
In addition to exports of refined products, these amounts include loading volumes at our ethylene export terminal. |
(9) |
Represents total NGL, crude oil, refined products and petrochemical transportation volumes plus equivalent energy volumes where 3.8 million British thermal units (“MMBtus”) of natural gas transportation volumes are equivalent to one barrel of NGLs transported. |
Enterprise Products Partners L.P. | Exhibit C |
Selected Commodity Price Information – UNAUDITED |
|
|
|
|
|
|
|
Polymer |
Refinery |
|
Natural |
|
|
Normal |
|
Natural |
Grade |
Grade |
|
Gas, |
Ethane, |
Propane, |
Butane, |
Isobutane, |
Gasoline, |
Propylene, |
Propylene, |
|
$/MMBtu (1) |
$/gallon (2) |
$/gallon (2) |
$/gallon (2) |
$/gallon (2) |
$/gallon (2) |
$/pound (3) |
$/pound (3) |
2023 by quarter: |
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|
|
|
|
First Quarter |
|
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|
|
|
|
|
|
Second Quarter |
|
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|
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|
Third Quarter |
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|
|
|
|
|
|
Fourth Quarter |
|
|
|
|
|
|
|
|
2023 Averages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 by quarter: |
|
|
|
|
|
|
|
|
First Quarter |
|
|
|
|
|
|
|
|
Second Quarter |
|
|
|
|
|
|
|
|
Third Quarter |
|
|
|
|
|
|
|
|
2024 Averages |
|
|
|
|
|
|
|
|
(1) |
Natural gas prices are based on Henry-Hub Inside FERC commercial index prices as reported by Platts, which is a division of S&P Global, Inc. |
(2) |
NGL prices for ethane, propane, normal butane, isobutane and natural gasoline are based on Mont Belvieu Non-TET commercial index prices as reported by Oil Price Information Service, which is a division of Dow Jones. |
(3) |
Polymer grade propylene prices represent average contract pricing for such product as reported by IHS Markit ("IHS”), which is a division of S&P Global, Inc. Refinery grade propylene prices represent weighted-average spot prices for such product as reported by IHS. |
|
WTI |
|
|
LLS |
|
Crude Oil, |
Crude Oil, |
Crude Oil |
Crude Oil, |
|
$/barrel (1) |
$/barrel (2) |
$/barrel (2) |
$/barrel (3) |
2023 by quarter: |
|
|
|
|
First Quarter |
|
|
|
|
Second Quarter |
|
|
|
|
Third Quarter |
|
|
|
|
Fourth Quarter |
|
|
|
|
2023 Averages |
|
|
|
|
|
|
|
|
|
2024 by quarter: |
|
|
|
|
First Quarter |
|
|
|
|
Second Quarter |
|
|
|
|
Third Quarter |
|
|
|
|
2024 Averages |
|
|
|
|
(1) |
West Texas Intermediate (“WTI”) prices are based on commercial index prices at |
(2) |
|
(3) |
Light Louisiana Sweet (“LLS”) prices are based on commercial index prices as reported by Platts. |
The weighted-average indicative market price for NGLs (based on prices for such products at
Enterprise Products Partners L.P. |
Exhibit D |
|||||||||||
Free Cash Flow and Adjusted Free Cash Flow – UNAUDITED |
||||||||||||
($ in millions) |
|
|
||||||||||
|
For the Three Months
|
For the Nine Months
|
||||||||||
|
2024 |
2023 |
2024 |
2023 |
||||||||
Free Cash Flow (“FCF”) and Adjusted FCF |
|
|
|
|
||||||||
Net cash flow provided by operating activities (GAAP) |
$ |
2,072 |
|
$ |
1,718 |
|
$ |
5,757 |
|
$ |
5,203 |
|
Adjustments to reconcile net cash flow provided by operating activities to FCF and Adjusted FCF (addition or subtraction indicated by sign): |
|
|
|
|
||||||||
Net cash flow used in investing activities |
|
(1,152 |
) |
|
(818 |
) |
|
(3,433 |
) |
|
(2,220 |
) |
Cash contributions from noncontrolling interests |
|
8 |
|
|
10 |
|
|
33 |
|
|
25 |
|
Cash distributions paid to noncontrolling interests |
|
(21 |
) |
|
(40 |
) |
|
(84 |
) |
|
(121 |
) |
FCF (non-GAAP) |
$ |
907 |
|
$ |
870 |
|
$ |
2,273 |
|
$ |
2,887 |
|
Net effect of changes in operating accounts, as applicable |
|
36 |
|
|
303 |
|
|
563 |
|
|
706 |
|
Adjusted FCF (non-GAAP) |
$ |
943 |
|
$ |
1,173 |
|
$ |
2,836 |
|
$ |
3,593 |
|
|
|
|
|
|
||||||||
|
|
|
|
|||||||||
For the Twelve Months
|
|
|
||||||||||
2024 |
2023 |
|
|
|||||||||
Net cash flow provided by operating activities (GAAP) |
$ |
8,123 |
|
$ |
7,928 |
|
|
|
||||
Adjustments to reconcile net cash flow provided by operating activities to FCF and Adjusted FCF (addition or subtraction indicated by sign): |
|
|
|
|
||||||||
Net cash flow used in investing activities |
|
(4,410 |
) |
|
(2,865 |
) |
|
|
||||
Cash contributions from noncontrolling interests |
|
52 |
|
|
28 |
|
|
|
||||
Cash distributions paid to noncontrolling interests |
|
(123 |
) |
|
(169 |
) |
|
|
||||
FCF (non-GAAP) |
$ |
3,642 |
|
$ |
4,922 |
|
|
|
||||
Net effect of changes in operating accounts, as applicable |
|
412 |
|
|
78 |
|
|
|
||||
Adjusted FCF (non-GAAP) |
$ |
4,054 |
|
$ |
5,000 |
|
|
|
FCF is a non-GAAP measure of how much cash a business generates after accounting for capital expenditures such as plants or pipelines. Additionally, Adjusted FCF is a non-GAAP measure of how much cash a business generates, excluding the net effect of changes in operating accounts, after accounting for capital expenditures. We believe that FCF is important to traditional investors since it reflects the amount of cash available for reducing debt, investing in additional capital projects and/or paying distributions. We believe that Adjusted FCF is also important to traditional investors for the same reasons as FCF, without regard for fluctuations caused by timing of when amounts earned or incurred were collected, received or paid from period to period. Since we partner with other companies to fund certain capital projects of our consolidated subsidiaries, our determination of FCF and Adjusted FCF appropriately reflect the amount of cash contributed from and distributed to noncontrolling interests.
Enterprise Products Partners L.P. |
Exhibit E |
|||||||||||
Adjusted Cash flow from operations – UNAUDITED |
||||||||||||
($ in millions) |
|
|
|
|||||||||
For the Three Months
|
For the Nine Months
|
For the Twelve Months
|
||||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
||||||
Adjusted Cash flow from operations (“Adjusted CFFO”) |
|
|
|
|
|
|
||||||
Net cash flow provided by operating activities (GAAP) |
$ |
2,072 |
$ |
1,718 |
$ |
5,757 |
$ |
5,203 |
$ |
8,123 |
$ |
7,928 |
Adjustments to reconcile net cash flow provided by operating activities to Adjusted Cash flow from operations (addition or subtraction indicated by sign): |
|
|
|
|
|
|
||||||
Net effect of changes in operating accounts, as applicable |
|
36 |
|
303 |
|
563 |
|
706 |
|
412 |
|
78 |
Adjusted CFFO (non-GAAP) |
$ |
2,108 |
$ |
2,021 |
$ |
6,320 |
$ |
5,909 |
$ |
8,535 |
$ |
8,006 |
Adjusted CFFO is a non-GAAP measure that represents net cash flow provided by operating activities before the net effect of changes in operating accounts. We believe that it is important to consider this non-GAAP measure as it can often be a better way to measure the amount of cash generated from our operations that can be used to fund our capital investments or return value to our investors through cash distributions and buybacks, without regard for fluctuations caused by timing of when amounts earned or incurred were collected, received or paid from period to period.
Enterprise Products Partners L.P. |
Exhibit F |
||||||||||||||
Distributable Cash Flow and Operational Distributable Cash Flow – UNAUDITED |
|||||||||||||||
($ in millions) |
|
|
|
||||||||||||
|
|
|
For the Twelve
Months Ended
|
||||||||||||
|
For the Three Months
|
For the Nine Months
|
|||||||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
||||||||||
Distributable Cash Flow (“DCF”) and Operational DCF |
|
|
|
|
|
||||||||||
Net income attributable to common unitholders (GAAP) |
$ |
1,417 |
|
$ |
1,318 |
|
$ |
4,278 |
|
$ |
3,961 |
|
$ |
5,846 |
|
Adjustments to net income attributable to common unitholders to derive DCF (addition or subtraction indicated by sign): |
|
|
|
|
|
||||||||||
Depreciation, amortization and accretion expenses |
|
618 |
|
|
599 |
|
|
1,845 |
|
|
1,742 |
|
|
2,446 |
|
Cash distributions received from unconsolidated affiliates |
|
124 |
|
|
120 |
|
|
367 |
|
|
367 |
|
|
488 |
|
Equity in income of unconsolidated affiliates |
|
(99 |
) |
|
(122 |
) |
|
(302 |
) |
|
(347 |
) |
|
(417 |
) |
Asset impairment charges |
|
27 |
|
|
12 |
|
|
51 |
|
|
28 |
|
|
55 |
|
Change in fair market value of derivative instruments |
|
(3 |
) |
|
38 |
|
|
(11 |
) |
|
48 |
|
|
(26 |
) |
Deferred income tax expense |
|
9 |
|
|
13 |
|
|
23 |
|
|
5 |
|
|
30 |
|
Sustaining capital expenditures (1) |
|
(129 |
) |
|
(99 |
) |
|
(554 |
) |
|
(284 |
) |
|
(683 |
) |
Other, net |
|
(8 |
) |
|
(11 |
) |
|
9 |
|
|
(6 |
) |
|
(9 |
) |
Operational DCF (non-GAAP) |
|
1,956 |
|
|
1,868 |
|
|
5,706 |
|
|
5,514 |
|
|
7,730 |
|
Proceeds from asset sales and other matters |
|
5 |
|
|
1 |
|
|
11 |
|
|
7 |
|
|
46 |
|
Monetization of interest rate derivative instruments accounted for as cash flow hedges |
|
(4 |
) |
|
– |
|
|
(33 |
) |
|
21 |
|
|
(33 |
) |
DCF (non-GAAP) |
$ |
1,957 |
|
$ |
1,869 |
|
$ |
5,684 |
|
$ |
5,542 |
|
$ |
7,743 |
|
Adjustments to reconcile DCF with net cash flow provided by operating activities (addition or subtraction indicated by sign): |
|
|
|
|
|
||||||||||
Net effect of changes in operating accounts, as applicable |
|
(36 |
) |
|
(303 |
) |
|
(563 |
) |
|
(706 |
) |
|
(412 |
) |
Sustaining capital expenditures |
|
129 |
|
|
99 |
|
|
554 |
|
|
284 |
|
|
683 |
|
Other, net |
|
22 |
|
|
53 |
|
|
82 |
|
|
83 |
|
|
109 |
|
Net cash flow provided by operating activities (GAAP) |
$ |
2,072 |
|
$ |
1,718 |
|
$ |
5,757 |
|
$ |
5,203 |
|
$ |
8,123 |
|
(1) |
Sustaining capital expenditures are capital expenditures (as defined by GAAP) resulting from improvements to and major renewals of existing assets. Such expenditures serve to maintain existing operations but do not generate additional revenues. |
DCF is an important non-GAAP liquidity measure for our common unitholders since it serves as an indicator of our success in providing a cash return on investment. Specifically, this liquidity measure indicates to investors whether or not we are generating cash flows at a level that can sustain or support an increase in our quarterly cash distributions. DCF is also a quantitative standard used by the investment community with respect to publicly traded partnerships because the value of a partnership unit is, in part, measured by its yield, which is based on the amount of cash distributions a partnership can pay to a common unitholder.
Operational DCF, which is defined as DCF excluding the impact of proceeds from asset sales and other matters and monetization of interest rate derivative instruments, is a supplemental non-GAAP liquidity measure that quantifies the portion of cash available for distribution to common unitholders that was generated from our normal operations. We believe that it is important to consider this non-GAAP measure as it provides an enhanced perspective of our assets’ ability to generate cash flows without regard for certain items that do not reflect our core operations.
The GAAP measure most directly comparable to DCF and Operational DCF is net cash flow provided by operating activities.
Enterprise Products Partners L.P. |
Exhibit G |
||||||||||||||
Adjusted EBITDA - UNAUDITED |
|
||||||||||||||
($ in millions) |
|
|
|
||||||||||||
|
|
|
For the Twelve
|
||||||||||||
|
For the Three Months
|
For the Nine Months
|
|||||||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
||||||||||
Net income (GAAP) |
$ |
1,432 |
|
$ |
1,350 |
|
$ |
4,337 |
|
$ |
4,055 |
|
$ |
5,939 |
|
Adjustments to net income to derive Adjusted EBITDA (addition or subtraction indicated by sign): |
|
|
|
|
|
||||||||||
Depreciation, amortization and accretion in costs and expenses (1) |
|
599 |
|
|
579 |
|
|
1,792 |
|
|
1,683 |
|
|
2,376 |
|
Interest expense, including related amortization |
|
343 |
|
|
328 |
|
|
1,006 |
|
|
944 |
|
|
1,331 |
|
Cash distributions received from unconsolidated affiliates |
|
124 |
|
|
120 |
|
|
367 |
|
|
367 |
|
|
488 |
|
Equity in income of unconsolidated affiliates |
|
(99 |
) |
|
(122 |
) |
|
(302 |
) |
|
(347 |
) |
|
(417 |
) |
Asset impairment charges |
|
27 |
|
|
12 |
|
|
51 |
|
|
28 |
|
|
55 |
|
Provision for income taxes |
|
19 |
|
|
22 |
|
|
55 |
|
|
45 |
|
|
54 |
|
Change in fair market value of commodity derivative instruments |
|
(3 |
) |
|
38 |
|
|
(11 |
) |
|
48 |
|
|
(26 |
) |
Other, net |
|
– |
|
|
– |
|
|
5 |
|
|
(4 |
) |
|
(1 |
) |
Adjusted EBITDA (non-GAAP) |
|
2,442 |
|
|
2,327 |
|
|
7,300 |
|
|
6,819 |
|
|
9,799 |
|
Adjustments to reconcile Adjusted EBITDA to net cash flow provided by operating activities (addition or subtraction indicated by sign): |
|
|
|
|
|
||||||||||
Interest expense, including related amortization |
|
(343 |
) |
|
(328 |
) |
|
(1,006 |
) |
|
(944 |
) |
|
(1,331 |
) |
Deferred income tax expense |
|
9 |
|
|
13 |
|
|
23 |
|
|
5 |
|
|
30 |
|
Provision for income taxes |
|
(19 |
) |
|
(22 |
) |
|
(55 |
) |
|
(45 |
) |
|
(54 |
) |
Net effect of changes in operating accounts, as applicable |
|
(36 |
) |
|
(303 |
) |
|
(563 |
) |
|
(706 |
) |
|
(412 |
) |
Other, net |
|
19 |
|
|
31 |
|
|
58 |
|
|
74 |
|
|
91 |
|
Net cash flow provided by operating activities (GAAP) |
$ |
2,072 |
|
$ |
1,718 |
|
$ |
5,757 |
|
$ |
5,203 |
|
$ |
8,123 |
|
(1) |
Excludes amortization of major maintenance costs for reaction-based plants, which are a component of Adjusted EBITDA. |
Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and rating agencies, to assess the financial performance of our assets without regard to financing methods, capital structures or historical cost basis; the ability of our assets to generate cash sufficient to pay interest and support our indebtedness; and the viability of projects and the overall rates of return on alternative investment opportunities.
Since Adjusted EBITDA excludes some, but not all, items that affect net income or loss and because these measures may vary among other companies, the Adjusted EBITDA data presented in this press release may not be comparable to similarly titled measures of other companies. The GAAP measure most directly comparable to Adjusted EBITDA is net cash flow provided by operating activities.
Enterprise Products Partners L.P. |
Exhibit H |
||||||||||||||
Gross Operating Margin – UNAUDITED |
|||||||||||||||
($ in millions) |
|
|
|
||||||||||||
|
|
|
For the Twelve
|
||||||||||||
|
For the Three Months
|
For the Nine Months
|
|||||||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
||||||||||
Total gross operating margin (non-GAAP) |
$ |
2,454 |
|
$ |
2,331 |
|
$ |
7,356 |
|
$ |
6,847 |
|
$ |
9,904 |
|
Adjustments to reconcile total gross operating margin to total operating income (addition or subtraction indicated by sign): |
|
|
|
|
|
||||||||||
Depreciation, amortization and accretion expense in operating costs and expenses (1) |
|
(586 |
) |
|
(566 |
) |
|
(1,749 |
) |
|
(1,644 |
) |
|
(2,320 |
) |
Asset impairment charges in operating costs and expenses |
|
(27 |
) |
|
(11 |
) |
|
(51 |
) |
|
(27 |
) |
|
(54 |
) |
Net gains (losses) attributable to asset sales and related matters in operating costs and expenses |
|
– |
|
|
– |
|
|
(5 |
) |
|
4 |
|
|
1 |
|
General and administrative costs |
|
(61 |
) |
|
(59 |
) |
|
(184 |
) |
|
(172 |
) |
|
(243 |
) |
Total operating income (GAAP) |
$ |
1,780 |
|
$ |
1,695 |
|
$ |
5,367 |
|
$ |
5,008 |
|
$ |
7,288 |
|
(1) |
Excludes amortization of major maintenance costs for reaction-based plants, which are a component of gross operating margin. |
We evaluate segment performance based on our financial measure of gross operating margin. Gross operating margin is an important performance measure of the core profitability of our operations and forms the basis of our internal financial reporting. We believe that investors benefit from having access to the same financial measures that our management uses in evaluating segment results.
The term “total gross operating margin” represents GAAP operating income exclusive of (i) depreciation, amortization and accretion expenses (excluding amortization of major maintenance costs for reaction-based plants), (ii) impairment charges, (iii) gains and losses attributable to asset sales and related matters, and (iv) general and administrative costs. Total gross operating margin includes equity in the earnings of unconsolidated affiliates, but is exclusive of other income and expense transactions, income taxes, the cumulative effect of changes in accounting principles and extraordinary charges. Total gross operating margin is presented on a 100 percent basis before any allocation of earnings to noncontrolling interests. The GAAP financial measure most directly comparable to total gross operating margin is operating income.
Total gross operating margin excludes amounts attributable to shipper make-up rights as described in footnote (6) to Exhibit A of this press release.
Enterprise Products Partners L.P. |
Exhibit I |
|||||||||
Other Information – UNAUDITED |
||||||||||
($ in millions) |
|
|
|
|||||||
|
|
|
For the Twelve
|
|||||||
|
For the Three Months
|
For the Nine Months
|
||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
|||||
Capital investments: |
|
|
|
|
|
|||||
Capital expenditures |
$ |
1,174 |
$ |
821 |
$ |
3,485 |
$ |
2,254 |
$ |
4,497 |
Investments in unconsolidated affiliates |
|
– |
|
2 |
|
– |
|
2 |
|
– |
Other investing activities |
|
8 |
|
3 |
|
23 |
|
8 |
|
28 |
Total capital investments |
$ |
1,182 |
$ |
826 |
$ |
3,508 |
$ |
2,264 |
$ |
4,525 |
The following table summarizes the non-cash mark-to-market gains (losses) for the periods indicated:
|
|
|
For the Twelve
|
||||||||||||
|
For the Three Months
|
For the Nine Months
|
|||||||||||||
|
2024 |
2023 |
2024 |
2023 |
2024 |
||||||||||
Mark-to-market gains (losses) in gross operating margin: |
|
|
|
|
|
||||||||||
NGL Pipelines & Services |
$ |
(3 |
) |
$ |
(3 |
) |
$ |
(10 |
) |
$ |
(22 |
) |
$ |
(13 |
) |
Crude Oil Pipelines & Services |
|
5 |
|
|
(33 |
) |
|
17 |
|
|
(27 |
) |
|
39 |
|
Natural Gas Pipelines & Services |
|
1 |
|
|
(4 |
) |
|
2 |
|
|
(2 |
) |
|
3 |
|
Petrochemical & Refined Products Services |
|
– |
|
|
2 |
|
|
2 |
|
|
3 |
|
|
(3 |
) |
Total mark-to-market impact on gross operating margin |
$ |
3 |
|
$ |
(38 |
) |
$ |
11 |
|
$ |
(48 |
) |
$ |
26 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029310937/en/
Libby Strait, Senior Director, Investor Relations, (713) 381-4754
Rick Rainey, Vice President, Media Relations, (713) 381-3635
Source: Enterprise Products Partners L.P.
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