The earnings call highlighted strong financial performance and significant growth projects, particularly in the Permian Basin and organic expansions. However, there are challenges with margin compression in LPG exports, disruptions in ethane exports, and pressure on petchem and octane margins due to external factors. The sentiment is balanced with robust growth but notable market challenges.

Company Guidance

During Enterprise Products Partners LP's second quarter 2025 earnings call, the company reported adjusted EBITDA of $2.4 billion and $1.9 billion in distributable cash flow, providing a coverage ratio of 1.6x. The company retained $740 million of distributable cash flow and set five volumetric records, processing 7.8 billion cubic feet of natural gas per day and moving 20 billion cubic feet per day through their pipeline network. They transported over 1 million barrels per day of refined products and petrochemicals. The company has nearly $6 billion in organic growth projects expected to come online within the next 18 months, including two gas processing plants in the Permian and a third set to start up next year, which will increase their Permian processing capacity to almost 5 Bcf a day. The company also expects to start up a 600,000 barrel per day Bahia Y-grade pipeline and Frac 14 in the fourth quarter, with additional capacity expansions at their Neches River terminal by 2026. For the second quarter, net income attributable to common unitholders was $1.4 billion, with a net income per common unit increase of 3% to $0.66. The distribution declared was $0.545 per common unit, a 3.8% increase from the previous year, and the partnership purchased approximately 3.6 million common units for $110 million in the second quarter. Total capital investments for the quarter were $1.3 billion, with $1.2 billion allocated to growth capital projects. The company's total debt principal was approximately $33.1 billion with a weighted average cost of debt at 4.7%, and consolidated liquidity stood at approximately $5.1 billion.

Strong Financial Performance

Reported adjusted EBITDA of $2.4 billion and distributable cash flow of $1.9 billion, providing 1.6x coverage with $740 million of retained DCF.

Record Volumes and Expansion

Set 5 volumetric records for the quarter, with 7.8 billion cubic feet of natural gas processed per day and over 1 million barrels per day of refined products and petrochemicals transported.

Significant Organic Growth Projects

Nearly $6 billion worth of organic growth projects entering service, including 2 gas processing plants in the Permian and the Bahia Y-grade pipeline expected to start up in the fourth quarter.

Stable Distribution and Buyback Program

Declared a distribution of $0.545 per common unit, a 3.8% increase year-over-year, and repurchased approximately 3.6 million common units for $110 million.

Permian Processing Capacity Growth

Expected to increase total Permian processing capacity to almost 5 Bcf a day, producing 650,000 barrels a day of liquids.

Enterprise Products Partners (EPD) Earnings, Revenues Date & History

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EPD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.69 / -	0.65	―	―	―
Jul 28, 2025	2025 (Q2)	0.64 / 0.66	0.64	3.13% (+0.02)
Apr 29, 2025	2025 (Q1)	0.70 / 0.64	0.66	-3.03% (-0.02)
Feb 04, 2025	2024 (Q4)	0.70 / 0.74	0.72	2.78% (+0.02)
Oct 29, 2024	2024 (Q3)	0.67 / 0.65	0.6	8.33% (+0.05)
Jul 30, 2024	2024 (Q2)	0.66 / 0.64	0.57	12.28% (+0.07)
Apr 30, 2024	2024 (Q1)	0.67 / 0.66	0.64	3.13% (+0.02)
Feb 01, 2024	2023 (Q4)	0.68 / 0.72	0.652	10.43% (+0.07)
Oct 31, 2023	2023 (Q3)	0.64 / 0.60	0.633	-5.21% (-0.03)
Aug 01, 2023	2023 (Q2)	0.58 / 0.57	0.64	-10.94% (-0.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

EPD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 28, 2025	$31.00	$30.61	-1.26%
Apr 29, 2025	$30.29	$29.73	-1.85%
Feb 04, 2025	$31.99	$31.86	-0.41%
Oct 29, 2024	$27.20	$27.16	-0.15%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.