8-KRegulation FD

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Regulation FD Disclosure (Jun 6, 2022)

Filed June 6, 2022For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) announced "Project 9," a new company-wide initiative aimed at achieving over $9.0 billion in Adjusted EBITDA for fiscal year 2022. This initiative underscores a focus on financial discipline, innovation, customer relationships, and operational efficiency to drive strong financial performance. While Project 9 sets an ambitious target, it is important for investors to note that this is not formal guidance for 2022 actual results. The company outlines several strategies to achieve this goal, including capitalizing on customer production growth, exploring new commercial opportunities, enhancing operational efficiencies, and reducing unnecessary costs, all while maintaining a commitment to safety. Investors should consider this a motivational target rather than a definitive financial forecast.

Key Highlights

  • 1Launch of "Project 9" initiative with a goal of exceeding $9.0 billion in Adjusted EBITDA for fiscal year 2022.
  • 2The initiative emphasizes financial discipline, innovation, customer focus, and operational efficiency.
  • 3Key strategies include servicing customer growth, pursuing new business opportunities, and improving efficiencies.
  • 4Focus on cost reduction while maintaining a commitment to safe operations.
  • 5This target is presented as an initiative goal, not as official 2022 financial guidance.
  • 6The company acknowledges forward-looking statements are subject to risks and uncertainties.

Frequently Asked Questions

"Project 9" is a new company-wide initiative launched by Enterprise Products Partners L.P. (EPD) with the objective of surpassing $9.0 billion in Adjusted EBITDA for the fiscal year 2022. It aims to align the workforce around key principles like financial discipline, innovation, customer relationships, and efficiency.

No, the company explicitly states that Project 9, as a goal, does not represent formal guidance or an expectation of actual results of operations for 2022.

EPD plans to achieve the goal by servicing anticipated customer production growth, identifying new commercial business opportunities, improving operational efficiencies, generating near-term revenue, and reducing unnecessary costs, all while prioritizing safe operations.

The company's forward-looking statements, including the goals of Project 9, are subject to various risks, uncertainties, and assumptions. These are detailed in their Annual Report (10-K) and Quarterly Report (10-Q). If these risks materialize or assumptions prove incorrect, actual results could differ materially from the stated objectives.