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Enterprise Products Partners L.P. (EPD-0.07%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $13,775 million from $11,998 million in the same quarter the previous year. This increase is attributed to higher marketing revenues and sales volumes.
Operating costs and expenses for the quarter were $12,033 million, compared to $10,366 million in the same quarter of the previous year. This increase is due to higher volumes and costs associated with marketing activities.
The company reported an operating income of $1,780 million for the quarter, compared to $1,695 million in the previous year, with the increase attributed to higher revenues.
Interest expense for the quarter was $343 million, up from $328 million in the previous year, primarily due to the issuance of new senior notes.
Net income for the quarter was $1,432 million, up from $1,350 million in the previous year. After distributions to preferred units and noncontrolling interests, net income attributable to common unitholders was $1,417 million, compared to $1,318 million in the previous year.
Cash flow from operating activities was $2,072 million for the quarter, while cash used in investing and financing activities was $3,433 million and $971 million, respectively.
Enterprise had a working capital of $14,385 million as of September 30, 2024. The company continues to focus on capital investments and expansion projects, with approximately $6.9 billion in growth capital projects scheduled for completion by the end of 2026.
The filing also details various financial agreements, including the issuance of $2.5 billion of senior notes in August 2024 and a new 364-Day Revolving Credit Agreement entered into in March 2024.
Enterprise does not anticipate cash dividend payments to preferred unitholders in the near future, opting instead for paid-in-kind distributions.
The company continues to expand its midstream energy operations, including natural gas processing, NGL pipelines, and crude oil transportation, with several projects underway in the Permian Basin and Gulf Coast regions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Enterprise Products Partners L.P. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.