ENTERPRISE PRODUCTS PARTNERS L.P Reports Q2 FY2023 Earnings Results on June 30, 2023
August 14, 2023
🌥️Earnings Overview
On August 1 2023, ENTERPRISE PRODUCTS PARTNERS L.P ($NYSE:EPD) reported their financial results for the second quarter of FY2023, which ended on June 30. Their total revenue for the quarter was USD 10.7 billion, a decrease of 33.7% compared to the same quarter a year prior. Net income for the quarter dropped 11.3%, totalling USD 1.2 billion, compared to the same quarter in the previous year.
Share Price
On Tuesday, June 30th 2023, ENTERPRISE PRODUCTS PARTNERS L.P reported their Q2 FY2023 earnings results. The company’s stock opened at $26.2 and closed at $26.7, a 0.7% increase from the previous close of 26.5. A number of analysts provided their insights about the company’s performance, saying that the report was consistent with their expectations and that the company’s performance was in line with what they projected.
Additionally, the company maintained its dividend payout, which is a sign of confidence in its financial health. These strong results were driven by the company’s focus on operational efficiency as well as its strategic investments in new and existing businesses. In particular, its investments in midstream infrastructure have helped to drive growth and profitability. All in all, the company reported a solid quarter that exceeded analyst predictions and may be a sign of continued success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for EPD. More…
| Total Revenues | Net Income | Net Margin |
| 52.21k | 5.4k | 10.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for EPD. More…
| Operations | Investing | Financing |
| 7.26k | 316 | -868 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for EPD. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 67.33k | 39.47k | 12.32 |
Key Ratios Snapshot
Some of the financial key ratios for EPD are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.4% | 6.0% | 13.1% |
| FCF Margin | ROE | ROA |
| 11.5% | 16.0% | 6.4% |
Analysis
GoodWhale recently conducted an analysis of ENTERPRISE PRODUCTS PARTNERS L.P’s wellbeing. Based on our Star Chart, we concluded that ENTERPRISE PRODUCTS PARTNERS L.P is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. We believe that this type of company may be attractive to investors who are looking for a moderate return on their investment. We found that ENTERPRISE PRODUCTS PARTNERS L.P has a high health score of 8/10, indicating that it is capable to sustain future operations even in times of crisis. In particular, ENTERPRISE PRODUCTS PARTNERS L.P showed strength in its cashflows and debt while remaining medium in asset, growth, profitability and relatively weak in dividend. More…
Peers
Enterprise Products Partners LP is a Houston-based partnership that owns and operates pipelines and other energy-related transportation and storage facilities. The company’s main competitors are Energy Transfer LP, Enbridge Inc, and Kinder Morgan Inc. All three companies are based in North America and are involved in the transportation and storage of oil and natural gas.
– Energy Transfer LP ($NYSE:ET)
Energy Transfer LP is a publicly traded partnership that owns and operates energy infrastructure assets in the United States. The company’s assets include natural gas pipelines, natural gas storage facilities, and crude oil pipelines. Energy Transfer LP is headquartered in Dallas, Texas.
– Enbridge Inc ($TSX:ENB)
Enbridge Inc is a Canadian energy transportation and distribution company. It has a market capitalization of $103.97 billion as of 2022 and a return on equity of 9.87%. The company operates in the oil and gas industry and owns and operates a network of pipelines that transport crude oil, natural gas, and refined products in Canada and the United States. Enbridge also owns and operates a fleet of oil tankers and gas storage facilities.
– Kinder Morgan Inc ($NYSE:KMI)
Kinder Morgan Inc is a leading North American energy company that specializes in the transport, storage, and distribution of natural gas and crude oil products. The company has a market capitalization of $40.72 billion as of 2022 and a return on equity of 7.82%. Kinder Morgan is one of the largest energy infrastructure companies in North America, with a network of approximately 84,000 miles of pipelines and 160 terminals. The company’s pipelines transport natural gas, crude oil, refined products, and CO2, while its terminals store and handle petroleum products, chemicals, and other bulk materials.
Summary
The investing analysis of ENTERPRISE PRODUCTS PARTNERS L.P., as of June 30 2023, revealed total revenue of USD 10.7 billion, a decrease of 33.7% compared to the same quarter the previous year. Net income for the quarter was USD 1.2 billion, a decrease of 11.3% from the same quarter the year before. This data informs investors of a decline in performance from the second quarter of FY2023 compared to the same quarter the year before. As such, investors need to be mindful of potential risks associated with investing in this company and should consider additional sources of information before making an investment decision.
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