Enterprise Products reports Q1 EPS 66c, consensus 67c

Reports Q1 revenue $14.76B consensus $14.23B. “Enterprise began 2024 with another strong quarter,” said A. J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “Our integrated system of energy infrastructure transported 12.3 million equivalent barrels per day of NGLs, crude oil, petrochemicals, refined products and natural gas, while our marine terminals handled a record 2.3 million barrels per day of hydrocarbons in the first quarter of 2024. The partnership’s total gross operating margin for the first quarter of 2024 was $2.5 billion, a 7 percent increase compared to the first quarter of 2023. Our earnings growth in the first quarter of 2024 was primarily driven by contributions from new assets placed into service during the second half of 2023 in our NGL Pipeline & Services segment, a 17 percent increase in net marine terminal volumes attributable to growing international demand for U.S. energy, and higher sales volumes and margins in our octane enhancement business.”