ENTERPRISE PRODUCTS PARTNERS (EPD) Company Report

Enterprise Products Partners L.P. (EPD) has executed an agreement for ExxonMobil to acquire a 40-percent undivided joint interest in Enterprise’s Bahia natural gas liquids pipeline.
ExxonMobil will contribute approximately $650 million for its proportionate share of Bahia project costs.
The transaction is subject to regulatory approvals and is expected to close by early 2026.
Following the closing, Enterprise and ExxonMobil plan to increase Bahia’s capacity to 1 million BPD and construct a 92-mile extension, with completion anticipated in the fourth quarter of 2027.
Enterprise will serve as the operator of the combined system.

Nov 20, 2025, 12:09 PM

8-K

Enterprise Products Operating LLC Completes $1.65 Billion Senior Notes Offering

EPD

Debt Issuance

New Projects/Investments

Enterprise Products Operating LLC (EPO) completed a public offering of $1.65 billion aggregate principal amount of senior notes on November 14, 2025.
The offering consisted of three tranches: $300 million of 4.30% Senior Notes due June 20, 2028; $600 million of 4.60% Senior Notes due January 15, 2031; and $750 million of 5.20% Senior Notes due January 15, 2036.
The net proceeds of approximately $1.65 billion will be used for general company purposes, including growth capital investments and acquisitions, and for the repayment of existing debt.
Specifically, the proceeds will help repay EPO’s $750 million principal amount of 5.05% Senior Notes FFF due January 2026 and $875 million principal amount of 3.70% Senior Notes PP due February 2026.

Nov 14, 2025, 5:24 PM

8-K

Enterprise Products Operating LLC Prices $1.65 Billion Senior Notes

EPD

Debt Issuance

New Projects/Investments

M&A

Enterprise Products Operating LLC (EPO) priced a public offering of $1.65 billion aggregate principal amount of senior notes.
The offering comprises three tranches: $300 million due June 20, 2028 (4.30% coupon), $600 million due January 15, 2031 (4.60% coupon), and $750 million due January 15, 2036 (5.20% coupon).
Net proceeds are intended for general company purposes, including growth capital investments and acquisitions, and the repayment of debt, specifically $750 million of 5.05% Senior Notes FFF and $875 million of 3.70% Senior Notes PP maturing in early 2026.
Settlement for the offering is expected to occur on November 14, 2025.

Nov 10, 2025, 10:50 PM

Press Release

Enterprise Products Partners L.P. Announces Q3 2025 Results, Increases Buyback Program, and Provides Project Updates

EPD

Earnings

Share Buyback

New Projects/Investments

Enterprise Products Partners L.P. reported Q3 2025 adjusted EBITDA of $2.4 billion and distributable cash flow of $1.8 billion, providing 1.5x coverage. Net income attributable to common unitholders was $1.3 billion, or $0.61 per common unit on a fully diluted basis.
The company declared a Q3 2025 distribution of $0.545 per common unit, representing a 3.8% increase over Q3 2024. The board also approved a $3 billion increase to its buyback program, raising the total authorization to $5 billion, with $3.6 billion in capacity remaining.
Total capital investments for Q3 2025 were $2 billion, including $1.2 billion for growth capital projects and $583 million for the acquisition of natural gas gathering systems from Occidental. The company expects an inflection point in discretionary free cash flow in 2026 as a multi-year capital deployment cycle concludes.
Key projects like Frac 14 are now in service, and the Bahia Pipeline and Seminole Pipeline Conversion are expected online in late 2025. The Neches River Terminal is set for completion next year. Growth capital expenditures are projected to be $4.5 billion for 2025 and $2.2 billion-$2.5 billion for 2026.

Oct 30, 2025, 2:00 PM

Transcript

Enterprise Products Partners Reports Q3 2025 Results and Increases Buyback Program

EPD

Earnings

Share Buyback

New Projects/Investments

Enterprise Products Partners reported Q3 2025 adjusted EBITDA of $2.4 billion and distributable cash flow of $1.8 billion, providing 1.5 times coverage. Net income attributable to common unitholders was $1.3 billion, or $0.61 per common unit.
The company announced a $3 billion increase to its buyback program, raising the total authorization to $5 billion, with $3.6 billion in remaining capacity. A Q3 2025 distribution of $0.545 per common unit was declared, marking a 3.8% increase over Q3 2024.
Total capital investments for Q3 2025 were $2 billion, including $1.2 billion for growth projects and $583 million for the acquisition of natural gas gathering systems from Occidental. Growth capital expenditures are projected at $4.5 billion for 2025 and $2.2 billion to $2.5 billion for 2026.
Key projects are commissioning, with FRAC14 now in service and the Bahia Pipeline and Seminole Pipeline Conversion expected online in late 2025. The Neches River Terminal is set for completion next year, with the first train expected to be full by mid-2026. The consolidated leverage ratio stood at 3.3 times as of September 30, 2025, with an expectation to return to the target range by year-end 2026.

Oct 30, 2025, 2:00 PM

Transcript

Enterprise Products Partners L.P. Reports Q3 2025 Results and Increases Buyback Program

EPD

Earnings

Share Buyback

New Projects/Investments

Enterprise Products Partners L.P. reported Q3 2025 adjusted EBITDA of $2.4 billion and net income of $1.3 billion, or $0.61 per common unit. The company generated $1.8 billion in distributable cash flow, providing 1.5 times coverage.
The company increased its share buyback program by $3 billion, bringing the total authorization to $5 billion. For Q3 2025, $80 million was used to repurchase approximately 2.5 million common units.
Several major projects are coming online, including FRAC14 now in service, and the Bahia Pipeline and Seminole Pipeline Conversion expected in late 2025. The Neches River Terminal is ramping up and is expected to be fully operational by mid-2026, with 90% of LPG and 100% of ethane contracted for term.
Growth capital expenditures are projected at $4.5 billion for 2025 and $2.2 billion to $2.5 billion for 2026. The consolidated leverage ratio stood at 3.3 times as of September 30, 2025, with expectations to return to the target range by year-end 2026.

Oct 30, 2025, 2:00 PM

Transcript

EPD Announces Q3 2025 Financial and Operational Highlights

EPD

Earnings

Dividends

Share Buyback

EPD announced a Q3 2025 distribution of $0.545 per unit, representing a 3.8% increase over Q3 2024, and marking 27 consecutive years of distribution growth.
The company repurchased $80 million (2.5 million common units) in Q3 2025, contributing to $250 million in common unit buybacks for the nine months ended September 30, 2025.
As of September 30, 2025, EPD reported a leverage ratio of 3.3x and $3.6 billion in liquidity. Growth capital expenditures are projected at approximately $4.5 billion for 2025 and between $2.2 billion and $2.5 billion for 2026, with $5.1 billion in major capital projects currently under construction.
Total Gross Operating Margin (GOM) for Q3 2025 was $2,385 million. The NGL, Crude Oil, and Natural Gas segments experienced GOM decreases compared to Q3 2024, while the Petrochemical & Refined Products segment saw an increase.

Oct 30, 2025, 2:00 PM

Presentation

Enterprise Products Partners L.P. Reports Q3 2025 Earnings and Increases Buyback Authorization

EPD

Earnings

Share Buyback

New Projects/Investments

Enterprise Products Partners L.P. reported net income attributable to common unitholders of $1.3 billion and fully diluted earnings per common unit of $0.61 for the third quarter of 2025, compared to $1.4 billion and $0.65, respectively, for the third quarter of 2024.
The board of directors increased the authorized maximum size of the common unit buyback program from $2.0 billion to $5.0 billion, with $3.6 billion of available capacity remaining. The company repurchased approximately $80 million of common units in the third quarter of 2025.
Distributable Cash Flow (DCF) was $1.8 billion for the third quarter of 2025, providing 1.5 times coverage for the $0.545 per common unit distribution declared, which increased by 3.8% compared to the third quarter of 2024.
Total capital investments were $2.0 billion in the third quarter of 2025, including $1.2 billion for growth capital projects. Organic growth capital investments are expected to be approximately $4.5 billion in 2025.

Oct 30, 2025, 10:00 AM

Press Release

Enterprise Products Partners L.P. Reports Third Quarter 2025 Earnings and Increases Buyback Authorization

EPD

Earnings

Share Buyback

New Projects/Investments

Enterprise Products Partners L.P. reported net income attributable to common unitholders of $1.3 billion and fully diluted earnings per common unit of $0.61 for the third quarter of 2025, compared to $1.4 billion and $0.65, respectively, for the third quarter of 2024.
Distributable Cash Flow (DCF) was $1.8 billion for Q3 2025, providing 1.5 times coverage for the $0.545 per common unit distribution, which represents a 3.8 percent increase over Q3 2024.
The company's board of directors increased the common unit buyback program authorization from $2.0 billion to $5.0 billion, with $3.6 billion remaining available under the program.
Total capital investments for Q3 2025 were $2.0 billion, including $1.2 billion for growth capital projects and $583 million for the acquisition of natural gas gathering systems.
Enterprise established nine new operational records in Q3 2025, with natural gas processing plant inlet volumes reaching 8.1 Bcf/d and total natural gas pipeline volumes at 21.0 TBtus/d.

Oct 29, 2025, 9:50 PM

8-K

Enterprise Products Partners Declares Quarterly Distribution and Announces Share Buyback

EPD

Dividends

Share Buyback

Earnings

Enterprise Products Partners L.P. declared a quarterly cash distribution of $0.545 per unit for the third quarter of 2025, which is a 3.8 percent increase over the distribution declared for the third quarter of 2024. This distribution will be paid on November 14, 2025, to common unitholders of record as of October 31, 2025.
The company repurchased $80 million of its common units during the third quarter of 2025, contributing to a total of $250 million in repurchases for the first nine months of 2025. This activity has utilized approximately 69 percent of its authorized $2.0 billion buyback program.
Enterprise is scheduled to announce its earnings for the third quarter of 2025 on Thursday, October 30, 2025.

Oct 7, 2025, 9:00 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for ENTERPRISE PRODUCTS PARTNERS.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What are ENTERPRISE PRODUCTS PARTNERS's strategic priorities?How is ENTERPRISE PRODUCTS PARTNERS positioned vs competitors?How did ENTERPRISE PRODUCTS PARTNERS do last quarter?

Let Fintool AI Agent track ENTERPRISE PRODUCTS PARTNERS's earnings for you

Get instant analysis when filings drop