Earnings In Line: Headquartered in Houston, TX, Enterprise Products Partners L.P. (NYSE:EPD) reported adjusted fourth-quarter earnings of 54 cents per unit, same as the Zacks Consensus Estimate.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the past seven days.
Enterprise Products has an impressive earnings surprise history. The partnership managed to beat the Zacks Consensus Estimate in three of the last four quarters, the average positive earnings surprise being roughly 9.85%.
Revenues Beat: Revenues of $8,005.3 million surpassed the Zacks Consensus Estimate of $7,973 million.
Key Stats: Adjusted distributable cash flow was recorded at $1.6 billion, up 12% year over year and provided coverage of 1.7x. The partnership has retained $654 million of distributable cash flow.
Notably, NGL, crude oil, refined products & petrochemical pipeline volumes were recorded at 6.9 million barrels per day level in the fourth quarter of 2019.
Zacks Rank: Currently, Enterprise Products has a Zacks Rank #3 (Hold) but that could change following its third-quarter 2019 report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Enterprise Products earnings report later!
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Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report
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