Enterprise Products Q1 Bottom-Line Misses By A Whisker: Details
Portfolio Pulse from Akanksha Bakshi
Enterprise Products Partners L.P. (NYSE:EPD) reported Q1 fiscal 2024 results with an 18.6% year-over-year sales growth to $14.76 billion, surpassing consensus estimates. However, EPS of 66 cents missed the consensus by one cent. Adjusted EBITDA increased to $2.47 billion, but distributable cash flow slightly decreased. The company highlighted growth driven by new assets and increased international demand. Capital investments for the quarter were $1.1 billion, and $40 million was spent on common unit buybacks. EPD expects $3.25 to $3.75 billion in organic growth capital investments for 2024 and 2025.
April 30, 2024 | 5:34 pm
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Enterprise Products Partners L.P. (EPD) reported higher than expected Q1 sales but missed EPS estimates by one cent. The company saw growth from new assets and increased demand, with significant capital investments and a common unit buyback program underway.
The slight miss in EPS despite beating sales expectations and the subsequent 2.57% drop in share price indicate a negative short-term impact. The company's significant investments and buyback program reflect strength, but the immediate market reaction to the earnings miss suggests a short-term negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100