EPP Q3 Results Record Sales Decline, Misses Consensus Estimates
Portfolio Pulse from Akanksha Bakshi
Enterprise Products Partners L.P. (NYSE:EPD) reported a Q3 FY23 sales decline of 22.4% YoY to $11.99 billion, missing consensus estimates of $12.02 billion. Adjusted EBITDA fell to $2.17 billion from $2.42 billion in the prior year quarter. EPS was 60 cents, down from 61 cents in 3Q22, missing the consensus of 64 cents. The company announced four new capital projects to support production growth in the Permian Basin and expects growth capital investments of $3 billion in FY23.
October 31, 2023 | 4:22 pm
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NEGATIVE IMPACT
Enterprise Products Partners L.P. reported lower than expected Q3 FY23 results, with a significant sales decline and lower EPS. However, the company announced new capital projects for growth and expects significant capital investments in FY23.
Enterprise Products Partners L.P. reported lower than expected Q3 FY23 results, which could negatively impact investor sentiment and potentially lead to a short-term decline in the stock price. However, the announcement of new capital projects and expected capital investments could signal future growth, potentially offsetting some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100