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Enterprise Products (EPD) Beats Earnings Estimates in Q2
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Earnings Beat: Headquartered in Houston, TX, Enterprise Products Partners L.P. (EPD - Free Report) reported second-quarter earnings of 55 cents per share. The bottom-line surpassed the Zacks Consensus Estimate of 52 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the past seven days.
Enterprise Products has an impressive earnings surprise history. The partnership managed to beat the Zacks Consensus Estimate in all of the last four quarters, the average positive earnings surprise being roughly 17%.
Revenues Miss: Revenues of $8,276.3 million missed the Zacks Consensus Estimate of $8,794 million.
Key Stats: Adjusted distributable cash flow was at a record level of $1.7 billion, up 21.3% year over year and provided coverage of 1.8x. The partnership has retained $740 million of distributable cash flow.
Notably, NGL, crude oil, refined products & petrochemical pipeline volumes were recorded at 6.6 million barrels per day level in the second quarter of 2019.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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Enterprise Products (EPD) Beats Earnings Estimates in Q2
Earnings Beat: Headquartered in Houston, TX, Enterprise Products Partners L.P. (EPD - Free Report) reported second-quarter earnings of 55 cents per share. The bottom-line surpassed the Zacks Consensus Estimate of 52 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the past seven days.
Enterprise Products has an impressive earnings surprise history. The partnership managed to beat the Zacks Consensus Estimate in all of the last four quarters, the average positive earnings surprise being roughly 17%.
Revenues Miss: Revenues of $8,276.3 million missed the Zacks Consensus Estimate of $8,794 million.
Key Stats: Adjusted distributable cash flow was at a record level of $1.7 billion, up 21.3% year over year and provided coverage of 1.8x. The partnership has retained $740 million of distributable cash flow.
Notably, NGL, crude oil, refined products & petrochemical pipeline volumes were recorded at 6.6 million barrels per day level in the second quarter of 2019.
Zacks Rank: Currently, Enterprise Products has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2019 report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Enterprise Products earnings report later!
Enterprise Products Partners L.P. Price and EPS Surprise
Enterprise Products Partners L.P. price-eps-surprise | Enterprise Products Partners L.P. Quote
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>