The earnings call highlighted strong performance metrics, including increased EBITDA, expanded buyback programs, and strategic project completions. However, there were notable challenges, including project delays and operational issues with PDH plants. The overall outlook remains positive with expectations for future growth and improved cash flow.

Company Guidance

During the Enterprise Products Partners L.P. third quarter 2025 earnings call, the company provided guidance on several key metrics and future projects. The company reported an adjusted EBITDA of $2.4 billion and a distributable cash flow of $1.8 billion, with a coverage ratio of 1.5x. They retained $635 million of distributable cash flow. The company announced a $3 billion increase in their buyback program, raising it to $5 billion, reflecting a strong focus on returning capital to unitholders. Enterprise highlighted the completion and commissioning of long-anticipated projects like Frac 14, Bahia pipeline, and Seminole pipeline conversion, which are expected to contribute positively to future results. The company anticipates its organic growth capital expenditures to return to a mid-cycle range of $2 billion to $2.5 billion per year. Additionally, Enterprise has set a net income attributable to common unitholders at $1.3 billion, or $0.61 per common unit for the quarter. They also declared a distribution of $0.545 per common unit, marking a 3.8% increase over the previous year. The company anticipates an inflection point in discretionary free cash flow in 2026 as it concludes a four-year capital deployment cycle, with strategic investments in pipelines and marine terminals enhancing long-term growth prospects.

Adjusted EBITDA and Distributable Cash Flow

Reported adjusted EBITDA of $2.4 billion for the third quarter, generating $1.8 billion of distributable cash flow with 1.5x coverage.

Buyback Program Increase

Announced a $3 billion increase to the buyback program, expanding it from $2 billion to $5 billion.

Dividend Increase

Declared a distribution of $0.545 per common unit for the third quarter of 2025, a 3.8% increase over the distribution declared for the third quarter of 2024.

Project Completions

Frac 14 is now in service, and the Bahia pipeline and Seminole pipeline conversion will come online soon, adding capacity to their systems.

Net Income

Net income attributable to common unitholders was $1.3 billion or $0.61 per common unit for the third quarter of 2025.

Growth in Permian and Haynesville Basins

Continued investments position the company for long-term growth from the Haynesville and Permian Basins.

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
Jan 29, 2026	2025 (Q4)	0.70 / -	0.74	―	―	―
Oct 30, 2025	2025 (Q3)	0.67 / 0.61	0.65	-6.15% (-0.04)
Jul 28, 2025	2025 (Q2)	0.65 / 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)

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
Oct 30, 2025	$30.58	$31.04	+1.50%
Jul 28, 2025	$30.47	$30.08	-1.28%
Apr 29, 2025	$29.77	$29.22	-1.85%
Feb 04, 2025	$31.44	$31.30	-0.45%

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.