By Rob Curran
Enterprise Products Partners posted fourth-quarter net income growth amid higher volumes on its natural-gas pipeline networks.
The Houston-based pipeline company posted earnings of $1.63 billion, or 74 cents a unit, up from $1.60 billion, or 72 cents a unit, a year earlier. On average, analysts ahd targeted earnings of 70 cents a unit, as per FactSet.
Revenue fell 2.9% to $14.20 billion, topping the average analyst target of $14.01 billion, according to FactSet. The company cited investments in its Permian Basin pipelines and downstream infrastructure for increased volumes.
At its natural-gas-liquids pipeline and services unit, gross operating margin rose 12% to $1.5 billion, on higher volumes.
Gross operating margin at the natural-gas pipel323 million, as natural gas transportation volumes expanded by 5%. Gross operating margin at the crude-oil pipeline and services unit fell 8.6% to $417 million as volumes fell slightly. Gross operating margin at the petrochemical and refined products fell 21% to $348 million, despite an increase in volumes. ine and services unit rose 13% to $
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 04, 2025 06:43 ET (11:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.