8-KEarnings & ResultsExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Financial Results (Jul 24, 2008)

Filed July 24, 2008For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) filed an 8-K on July 24, 2008, reporting its financial and operating results for the second quarter and first half of 2008. The filing primarily references a press release and webcast that detail these results, emphasizing the use of non-GAAP financial measures like gross operating margin, distributable cash flow, and EBITDA. These metrics are presented to provide investors with a clearer view of the company's operational profitability, liquidity, and performance, as assessed by management. Management uses these non-GAAP measures to evaluate segment performance, allocate capital, and assess the company's ability to generate cash for distributions and debt service. The press release and webcast are the primary sources for the actual financial figures, with the 8-K serving as the formal notification of their release and the incorporation of the earnings report. Investors are directed to the company's website for further details and replay of the webcast.

Key Highlights

  • 1EPD filed an 8-K on July 24, 2008, announcing its Q2 and H1 2008 financial and operating results.
  • 2The filing incorporates by reference a press release (Exhibit 99.1) containing the detailed financial results.
  • 3EPD utilizes and reports on non-GAAP financial measures: Gross Operating Margin, Distributable Cash Flow, and EBITDA.
  • 4Gross Operating Margin is presented as a key measure of core operational profitability and is used for capital allocation decisions.
  • 5Distributable Cash Flow is highlighted as a measure of liquidity, important for assessing the ability to make partner distributions.
  • 6EBITDA is provided as a supplemental measure to assess asset performance, debt service capability, and project viability, independent of financing and capital structure.
  • 7Investors can access the full press release and a webcast replay on EPD's website (www.epplp.com).

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce that Enterprise Products Partners L.P. has released its financial and operating results for the second quarter and first half of 2008. It incorporates the detailed earnings press release by reference and informs investors about the availability of this information and a related conference call.

The key non-GAAP financial measures discussed are Gross Operating Margin, Distributable Cash Flow, and EBITDA. Management uses these measures to provide a more operational view of performance, liquidity, and cash generation capabilities, complementing traditional GAAP reporting.

The actual financial results and detailed discussion are primarily found in the press release furnished as Exhibit 99.1 to this 8-K filing. Additionally, Enterprise Products Partners L.P. held a webcast conference call to discuss these results, which is archived and available for replay on their website at www.epplp.com for 90 days from the filing date.

EPD emphasizes non-GAAP measures because management believes they provide valuable insights into the core profitability of operations (Gross Operating Margin), the capacity to fund distributions and operations (Distributable Cash Flow), and the performance of assets independent of financing (EBITDA). They argue these measures are used internally and by investors to better understand the business's performance and financial health.