Enterprises Products Partners Earnings Cheat Sheet: Record First Quarter

Enterprises Products Partners L.P (NYSE:EPD) reported results for the first quarter. Enterprise Products Partners LP is a North American midstream energy company providing a range of services to producers and consumers of natural gas (NYSE:UNG), natural gas liquids, crude oil (NYSE:USO) and certain petrochemicals.

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Enterprises Products Partners L.P Earnings Cheat Sheet for the First Quarter

Results: Net income for the oil and gas company rose to $420.7 million (49 cents/unit) vs. $377.8 million (33 cents/unit) in the same quarter a year earlier. A rise of 11.4% from the year earlier quarter.

Revenue: Rose 19.2% to $10.18 billion YoY.

Actual vs. Wall St. Expectations: The mean estimate for EPD was 44 cents/share. Estimates ranged from 38 cents per share to 47 cents per share.

Quoting Management: “Enterprise had a record first quarter to begin 2011,” stated Michael A. Creel, president and CEO of Enterprise. “Our 50,000-mile system of natural gas, NGL, refined products, crude oil and petrochemical pipelines continues to operate at record or near record volumes. We are continuing to benefit from production growth in the shale regions as well as increased demand for NGLs by the U.S. petrochemical industry and international markets. With few exceptions, the partnership’s diversified mix of businesses had another strong quarter.”

Competitors to Watch: Duncan Energy Partners L.P. (NYSE:DEP), Enterprise GP Hldgs. L.P. (EPE), Kinder Morgan Inc (KMI), Kinder Morgan Energy Partners LP (NYSE:KMP), El Paso Corporation (NYSE:EP), Copano Energy, L.L.C. (NASDAQ:CPNO), Southern Union Company (NYSE:SUG), Energy Transfer Partners, L.P. (NYSE:ETP), Blue Dolphin Energy Co. (NASDAQ:BDCO), and DCP Midstream Partners, LP (NYSE:DPM)

Stock Performance: Shares of EPD are up to $41.75 per share from the previous close of $41.48.


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