EPD
NYSE · Energy · Oil & Gas Midstream · US
Research · Oct 30, 2026
Enterprise Products (EPD) Q3 2026 Earnings: Crude Spreads Fade, Volumes Hit Records
Enterprise Products Q3 2026 gross operating margin rose 15% to $2.735 billion, but crude marketing spreads reversed while Permian fee-based volumes set records.
Research · Oct 17, 2026
[EPD] Enterprise Products: Q3 2026 earnings preview as marketing spreads fade
Enterprise Products earned $0.84 a unit in Q2 2026, up 28%, with record $2.31B distributable cash flow; Q3 tests how much Middle East spread gains fade as capex rises.
Research · Sep 3, 2026
[EPD] Enterprise Products Thesis 2026: Growth Capex Cycle Accelerates Across the Network
Enterprise Products Partners FY25 (Dec 31, 2025) at $52.6B revenue (-6.4%, commodity-price-driven). OpInc $6.91B; Net income $5.81B (-1.5%); Diluted EPU $2.66. OCF $8.59B; Capex $5.62B (+24%); FCF $2.97B (-17%). Distributions $4.68B (+4%). Buybacks $300M. Total debt $34.9B (+$2.7B). NGL Pipelines & Services ~50% of cash flow; LPG export expansion + Mont Belvieu fractionation. Wells Fargo upgraded EW→OW Mar 25 ($40→$42); Stifel $38→$41; TD Cowen $34→$38; MS $34→$38 (UW); Citi $36→$39; Barclays $35→$39.