8-KEarnings & ResultsExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Financial Results (Jan 26, 2006)

Filed January 26, 2006For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) filed an 8-K on January 26, 2006, to announce its financial results for the fourth quarter and full year ended December 31, 2005. The report primarily serves as a notification of the earnings release and provides context on the company's use of non-GAAP financial measures, including gross operating margin, distributable cash flow, and EBITDA. These measures are presented as key performance indicators used by management for internal reporting and capital allocation decisions. The company emphasizes that these non-GAAP metrics should not replace GAAP measures but are provided to offer investors insights into the core profitability and cash-generating capabilities of its operations. Investors should note that the actual financial performance data (revenue, net income, etc.) for the periods ending December 31, 2005, are detailed within the referenced press release (Exhibit 99.1), which is incorporated by reference. The 8-K itself does not contain the detailed financial tables but points to the earnings release as the source for these figures. The company also highlights its use of equity method investments and provides definitions for various industry-specific acronyms.

Key Highlights

  • 1EPD filed an 8-K on January 26, 2006, announcing financial results for the periods ending December 31, 2005.
  • 2The primary purpose of the 8-K is to furnish the earnings press release (Exhibit 99.1) which contains detailed financial results.
  • 3The company utilizes and defines several non-GAAP financial measures: Gross Operating Margin, Distributable Cash Flow, and EBITDA.
  • 4Gross Operating Margin is presented as a key measure of core profitability of EPD's operations.
  • 5Distributable Cash Flow is highlighted as a significant liquidity metric used to assess the cash flows generated to support distributions to partners.
  • 6EBITDA is provided as a supplemental measure for assessing financial performance and the ability of assets to generate cash.
  • 7The company emphasizes that these non-GAAP measures are used internally by management and should not be considered as replacements for GAAP measures.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce and furnish Enterprise Products Partners L.P.'s (EPD) earnings press release, which contains their financial results for the three and twelve month periods ended December 31, 2005. It also informs investors about the company's use of specific non-GAAP financial measures.

The detailed financial results are contained within the press release filed as Exhibit 99.1 to this 8-K. This press release is incorporated by reference into the 8-K filing and should be reviewed for specific figures such as revenue, net income, and segment performance.

The key non-GAAP financial measures highlighted are Gross Operating Margin, Distributable Cash Flow, and EBITDA. The filing provides definitions for each and explains how management uses them to evaluate performance and liquidity.

Investors should view these non-GAAP measures as supplemental information used by management to assess operational profitability and cash flow generation. While useful, they are not a substitute for GAAP measures like net income or operating income. The company explicitly states these measures should not be considered as alternatives to GAAP measures.