ENTERPRISE PRODUCTS PARTNERS L.P.EPDEarnings & Financial Report
Enterprise Products Partners L.P. is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. It acquired GulfTerra in September 2004. The company ranked No. 105 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Dan Duncan was the majority owner until his death in 2010.
Revenue
$14.2B
Gross Profit
$3.6B
Operating Profit
$2.0B
Net Profit
$1.6B
Gross Margin
25.3%
Operating Margin
13.9%
Net Margin
11.4%
YoY Growth
-2.9%
ENTERPRISE PRODUCTS PARTNERS L.P. Q4 FY2024 Financial Summary
ENTERPRISE PRODUCTS PARTNERS L.P. reported revenue of $14.2B (down 2.9% YoY) for Q4 FY2024, with a net profit of $1.6B (up 3.3% YoY) (11.4% margin). Cost of goods sold was $10.6B, operating expenses totaled $1.6B.
Key Financial Metrics
| Total Revenue | $14.2B |
|---|---|
| Net Profit | $1.6B |
| Gross Margin | 25.3% |
| Operating Margin | 13.9% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
ENTERPRISE PRODUCTS PARTNERS L.P. Q4 FY2024 revenue of $14.2B breaks down across 10 segments, led by Sales Of NG Ls And Related Products at $5.3B (37.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Sales Of NG Ls And Related Products | $5.3B | 37.2% |
| Onshore Crude Oil Pipelines And Services | $5.0B | 35.4% |
| Petrochemical And Refined Products Services | $2.2B | 15.8% |
| Sales Of Natural Gas | $471.0M | 3.3% |
| Natural Gas Processing And Fractionation | $340.0M | 2.4% |
| Transportation | $316.0M | 2.2% |
| Other | $307.0M | 2.2% |
| Midstream Services Storage And Terminals | $102.0M | 0.7% |
| Midstream Services Fractionation And Isomerization | $95.0M | 0.7% |
| Equity Method Investee | $16.0M | 0.1% |
ENTERPRISE PRODUCTS PARTNERS L.P. Revenue by Segment — Quarterly Trend
ENTERPRISE PRODUCTS PARTNERS L.P. revenue by segment across the last 4 reported quarters, showing how each business line (such as Sales Of NG Ls And Related Products and Onshore Crude Oil Pipelines And Services) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Sales Of NG Ls And Related Products | — | $4.3B | — | $2.7B |
| Onshore Crude Oil Pipelines And Services | — | — | $5.4B | — |
| Petrochemical And Refined Products Services | — | $2.3B | — | — |
| Sales Of Natural Gas | — | $462.0M | — | $632.0M |
| Natural Gas Processing And Fractionation | — | $272.0M | $341.0M | $296.0M |
ENTERPRISE PRODUCTS PARTNERS L.P. Annual Revenue by Year
ENTERPRISE PRODUCTS PARTNERS L.P. annual revenue history includes year-by-year totals (for example, 2025 revenue was $52.6B).
| Year | Annual Revenue |
|---|---|
| 2025 | $52.6B |
| 2024 | $56.2B |
| 2023 | $49.7B |
| 2022 | $58.2B |
ENTERPRISE PRODUCTS PARTNERS L.P. Quarterly Revenue & Net Profit History
ENTERPRISE PRODUCTS PARTNERS L.P. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $14.4B | -6.7% | $1.5B | 10.4% |
| Q4 FY2025 | $13.8B | -2.9% | $1.6B | 11.9% |
| Q3 FY2025 | $12.0B | -12.7% | $1.3B | 11.1% |
| Q2 FY2025 | $11.4B | -15.7% | $1.4B | 12.6% |
| Q1 FY2025 | $15.4B | +4.5% | $1.4B | 9.0% |
| Q4 FY2024 | $14.2B | -2.9% | $1.6B | 11.4% |
| Q3 FY2024 | $13.8B | +14.8% | $1.4B | 10.3% |
| Q2 FY2024 | $13.5B | +26.6% | $1.4B | 10.4% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.48B | $13.78B | $14.20B | $15.42B | $11.36B | $12.02B | $13.79B | $14.39B |
| YoY Growth | 26.6% | 14.8% | -2.9% | 4.5% | -15.7% | -12.7% | -2.9% | -6.7% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $73.56B | $75.06B | $77.17B | $75.41B | $77.44B | $77.82B | $77.90B | N/A |
| Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $1.57B | $2.07B | $2.36B | $2.31B | $2.06B | $1.74B | $2.47B |