Jean Ann Salisbury

John Mackay

Manav Gupta

Michael Blum

Spiro Dounis

Theresa Chen

Brandon Bingham

Keith Stanley

Jeremy Tonet

Andrew John O'Donnell

Jason Gabelman

Neal Dingmann

- 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**.  **[0001061219_2216457_1]** **[0001061219_2216457_3]**  Net income attributable to common unitholders was **$1.3 billion**, or **$0.61 per common unit**.  **[0001061219_2216457_2]** 
- 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**.  **[0001061219_2216457_1]** **[0001061219_2216457_2]**  A **Q3 2025 distribution of $0.545 per common unit** was declared, marking a **3.8% increase** over Q3 2024.  **[0001061219_2216457_2]** 
- 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**.  **[0001061219_2216457_2]**  Growth capital expenditures are projected at **$4.5 billion for 2025** and **$2.2 billion to $2.5 billion for 2026**.  **[0001061219_2216457_3]** 
- Key projects are commissioning, with **FRAC14 now in service** and the **Bahia Pipeline and Seminole Pipeline Conversion** expected online in late 2025.  **[0001061219_2216457_1]**  The **Neches River Terminal** is set for completion next year, with the first train expected to be full by mid-2026.  **[0001061219_2216457_1]** **[0001061219_2216457_7]**  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.  **[0001061219_2216457_3]**

Enterprise Products Partners Reports Q3 2025 Results and Increases Buyback Program

- 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**.  **[0001061219_2215113:1]** **[0001061219_2215113:2]** 
- 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.  **[0001061219_2215113:1]** 
- As of September 30, 2025, EPD reported a **leverage ratio of 3.3x** and **$3.6 billion in liquidity**.  **[0001061219_2215113:1]**  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.  **[0001061219_2215113:1]** **[0001061219_2215113:4]** 
- 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.  **[0001061219_2215113:7]** **[0001061219_2215113:8]** **[0001061219_2215113:9]**

EPD Announces Q3 2025 Financial and Operational Highlights

- 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.  **[1061219_2b0afb9196624005aa3d76d435025310_0]** 
- 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.  **[1061219_2b0afb9196624005aa3d76d435025310_0]**  The company repurchased approximately **$80 million** of common units in the third quarter of 2025.  **[1061219_2b0afb9196624005aa3d76d435025310_0]** 
- **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.  **[1061219_2b0afb9196624005aa3d76d435025310_0]** 
- Total capital investments were **$2.0 billion** in the third quarter of 2025, including **$1.2 billion for growth capital projects**.  **[1061219_2b0afb9196624005aa3d76d435025310_0]**  Organic growth capital investments are expected to be approximately **$4.5 billion in 2025**.  **[1061219_2b0afb9196624005aa3d76d435025310_0]**

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

- 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.  **[1061219_0001061219-25-000033_epd-20251030xex991.htm:0]** 
- **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.  **[1061219_0001061219-25-000033_epd-20251030xex991.htm:0]** 
- 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.  **[1061219_0001061219-25-000033_epd-20251030xex991.htm:0]** **[1061219_0001061219-25-000033_epd-20251030.htm:2]** 
- 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**.  **[1061219_0001061219-25-000033_epd-20251030xex991.htm:0]** 
- 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**.  **[1061219_0001061219-25-000033_epd-20251030xex991.htm:1]**

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

- 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.  **[1061219_f3a3b2659c3547008537bbd729bf1c5f_0]**  This distribution will be paid on **November 14, 2025**, to common unitholders of record as of **October 31, 2025**.  **[1061219_f3a3b2659c3547008537bbd729bf1c5f_0]** 
- 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.  **[1061219_f3a3b2659c3547008537bbd729bf1c5f_0]**  This activity has utilized approximately **69 percent** of its authorized **$2.0 billion** buyback program.  **[1061219_f3a3b2659c3547008537bbd729bf1c5f_0]** 
- Enterprise is scheduled to announce its earnings for the third quarter of 2025 on **Thursday, October 30, 2025**.  **[1061219_f3a3b2659c3547008537bbd729bf1c5f_0]**

ENTERPRISE PRODUCTS PARTNERS (EPD)