Summary
Enterprise Products Partners L.P. (EPD) reported its first quarter 2015 financial results, showcasing a decrease in total revenues to $7.47 billion from $12.91 billion in the prior year's quarter. This decline was primarily driven by lower commodity prices, particularly for crude oil and natural gas. Despite the revenue drop, the company's operating income remained robust at $896 million. Net income attributable to limited partners was $636.1 million, or $0.32 per diluted unit, compared to $798.8 million, or $0.43 per diluted unit, in Q1 2014. The company highlighted significant strategic developments, including the completion of the Oiltanking acquisition in February 2015, which expanded its asset base. EPD also announced plans for new pipeline construction and processing facilities to support growing production in key basins. The company maintained strong liquidity with $3.69 billion available at the end of the quarter and demonstrated solid operational execution across its diverse midstream infrastructure segments.
Financial Highlights
40 data points| Revenue | $7.47B |
| Cost of Revenue | $5.68B |
| Gross Profit | $1.79B |
| Operating Expenses | $6.67B |
| Operating Income | $896.00M |
| Interest Expense | $239.10M |
| Net Income | $636.10M |
| Shares Outstanding (Diluted) | 1.97B |
Key Highlights
- 1Total revenues decreased by approximately 42% year-over-year to $7.47 billion, mainly due to lower commodity prices.
- 2Net income attributable to limited partners was $636.1 million, down from $798.8 million in the prior year's quarter.
- 3Diluted earnings per unit decreased to $0.32 from $0.43 in the first quarter of 2014.
- 4Operating income remained strong at $896 million, reflecting the resilience of EPD's midstream services.
- 5The company completed the acquisition of Oiltanking in February 2015, expanding its footprint and asset base.
- 6EPD announced plans for significant growth projects, including a new crude oil pipeline from Midland to Houston and a natural gas processing facility in the Delaware Basin.
- 7Liquidity remained strong with $3.69 billion available at the end of the quarter, comprised of $81.1 million in unrestricted cash and $3.61 billion in available borrowing capacity.