Enterprise Products Misses Q3 Estimates, Boosts Cash Flow With New Asset Growth
Portfolio Pulse from Akanksha Bakshi
Enterprise Products Partners L.P. (NYSE:EPD) reported a 14.8% increase in Q3 sales to $13.775 billion, missing the consensus estimate. Despite a rise in adjusted EBITDA and EPS, both missed expectations. The company highlighted new asset growth and acquisitions, including Piñon Midstream, to boost cash flow and strengthen its NGL value chain.
October 29, 2024 | 3:02 pm
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Enterprise Products Partners reported Q3 sales growth of 14.8% but missed consensus estimates. Despite increased EBITDA and EPS, both fell short of expectations. The company is focusing on new asset growth and acquisitions, such as Piñon Midstream, to enhance cash flow and its NGL value chain.
EPD's Q3 results showed sales growth but missed consensus estimates, which is likely to negatively impact short-term stock prices. The company's focus on asset growth and acquisitions may provide long-term benefits, but the immediate market reaction is expected to be negative due to missed earnings expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100