EPD Misses Q2 Earnings Estimates As Natural Gas Liquids Prices Decline 48%
Portfolio Pulse from Lekha Gupta
Enterprise Products Partners L.P. (NYSE:EPD) reported Q2 2023 sales of $10.65 billion, missing the consensus of $12.69 billion. Adjusted EBITDA fell to $2.17 billion from $2.42 billion in the prior year quarter. EPS of $0.57 missed the consensus of $0.59. The company's performance was affected by a 48% decline in NGL prices, a fall in EFS Midstream System revenues, and weak sales margins and volumes in the propylene and octane enhancement businesses. The company bought 2.9 million common shares in the open market for around $75 million.

August 01, 2023 | 12:44 pm
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NEGATIVE IMPACT
Enterprise Products Partners L.P. reported lower than expected Q2 2023 sales and EPS. The company's performance was negatively impacted by a decline in NGL prices and weak sales margins.
Enterprise Products Partners L.P. reported lower than expected Q2 2023 sales and EPS, which is likely to negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100