Enterprises Products Partners L.P Earnings Cheat Sheet: Boosts Topline Growth

Enterprises Products Partners L.P (NYSE:EPD) reported net income above Wall Street’s expectations for the third quarter. Enterprise Products Partners is a North American midstream energy company providing a range of services to producers and consumers of natural gas, natural gas liquids (NYSE:NGLS), crude oil, and certain petrochemicals.

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

Results: Net income for the oil and gas company rose to $471.4 million (55 cents per share) vs. $371.9 million (18 cents per share) in the same quarter a year earlier. This marks a rise of 26.8% from the year earlier quarter.

Revenue: Rose 40.4% to $11.33 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: EPD beat the mean analyst estimate of 50 cents per share. It beat the average revenue estimate of $9.76 billion.

Quoting Management: “Enterprise reported record results again this quarter driven by natural gas, NGL and crude oil production growth in the shale regions, as well as demand for NGLs by the U.S. petrochemical industry and global markets,” stated Michael A. Creel, president and CEO of Enterprise. “Our NGL Pipelines & Services segment posted record gross operating margin this quarter, while our onshore natural gas, onshore crude oil and petrochemical service businesses also had strong results.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the second quarter, by 4 cents in the first quarter, and by 2 cents in the fourth quarter of the last fiscal year.

Revenue has now gone up for three straight quarters. In the second quarter, revenue rose 48.7% to $11.22 billion while the figure rose 19.2% in the first quarter from the year earlier.

Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next quarter performance. The average estimate for the fourth quarter is now 52 cents per share, down from 53 cents. Over the past three months, the average estimate for the fiscal year has climbed from $1.92 per to share to $2.02.

Competitors to Watch: Duncan Energy Partners L.P. (NYSE:DEP), Enterprise GP Hldgs. L.P. (EPE), Kinder Morgan Inc (NYSE: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).

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(Source: Xignite Financials)