EarningsQ2 2026 Earnings Report
MX:EPD Q2 2026 EPS Results
Actual EPS$14.40
Consensus EPS$12.82
Beat/MissBeat by +$1.58
One Year Ago EPS$11.31
MX:EPD Q2 2026 Revenue Results
Actual Revenue$315.13B
Expected Revenue$234.63B
Beat/MissBeat by +$80.49B
YoY Revenue Growth+63.73%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:EPD Upcoming Earnings
Enterprise Products Partners's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:EPD Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial quarter highlighted by record EBITDA (+17%), record adjusted cash flow (+19%), robust volume growth (pipeline +8%, marine terminals +33%), significant capital projects sanctioned and a strengthened liquidity position. Management acknowledged near-term market and commodity volatility (notably normalization after an April–May uplift and pressure on LPG rates from added export capacity), higher growth capex levels that compress discretionary flexibility, and some asset-specific operational interruptions. On balance the company demonstrated durable fundamentals, a constructive growth outlook with largely contracted export capacity, and disciplined balance-sheet management, while noting risks tied to commodity volatility and near-term market absorption of new export supply.Company Guidance
Record EBITDA and Strong Earnings Growth
Generated record EBITDA of $2.8 billion in Q2 2026, a 17% increase versus Q2 2025; provided 1x coverage of distributions.
Record Volumes and Terminal Throughput
Handled record pipeline and marine terminal volumes: total pipeline volumes up 8% year-over-year and marine terminals volumes up 33% year-over-year; moved 14.7 million barrels per day oil-equivalent and 2.8 million barrels per day across docks.
Adjusted Cash Flow Growth
Adjusted cash flow from operations increased 19% to a record $2.5 billion for Q2 2026 versus approximately $2.1 billion in Q2 2025.
Distribution Increase and Share Repurchases
Declared quarterly distribution of $0.56 per common unit, a 2.8% increase year-over-year; repurchased $159 million of common units in Q2 and $275 million year-to-date, with $404 million repurchased over the last 12 months (34% utilization of $5 billion buyback program).
Strong Capital Investment and Growth Project Approvals
Q2 capital investments totaled $1.2 billion (approximately $1.0 billion growth capex and $140 million sustaining capex); approved new natural gas processing plants (Plant 11 and Plant 13 each ~300 MMcf/d) and a new 150,000 bpd Mont Belvieu fractionation facility (timelines: Plant 15 Q1 2028, Plant 13 Q3 2028, Plant 11 Q1 2029).
Export and Fractionation Capacity Progress
Accelerated construction and commissioning of Neches River NGL marine terminal expansion ahead of schedule; LPG export terminal expansion expected in service by year-end, and system-wide LPG export capacity ~90% contracted, limiting commercial exposure.
High NGL & Gas Processing Utilization and Permian Growth
Natural gas processing inlet volumes increased to 8.1 Bcf/d overall; Permian inlet volumes up 14% year-over-year to 4.3 Bcf/d; NGL pipeline systems operating at ~86% of capacity.
Balance Sheet Strength and Liquidity
Total debt principal approximately $33.5 billion with a weighted average cost of debt ~4.7% and ~97% of debt fixed-rate; weighted average life ~17 years; consolidated liquidity roughly $4 billion at quarter-end, extended to roughly $5 billion after closing a $1 billion short-term facility; consolidated leverage ratio decreased to 3.0x (target).
Operational Reliability on Petrochemical Assets
PDH operations performed well in Q2 (PDH2 ran at design; PDH1 had a minor issue); overall operations and engineering teams recognized for strong execution enabling early commissioning and high safety/reliability standards.
MX:EPD Earnings History
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