Enterprise Products Partners (EPD) Q3 2026 Earnings
GAAP figure includes $7 million of asset impairment charges, $3 million of net losses attributable to asset sales and related matters, and a $13 million total mark-to-market loss in gross operating margin.
How Did EPD Stock React to Q3 2026 Earnings?
Did EPD Beat Earnings? Q3 2026 Results
Yes. Enterprise Products Partners reported Q3 2026 earnings of $0.75 a share on Oct 28, 2026, beating the $0.73 consensus estimate by 2.1%. Revenue was $17.9B against a $15.0B estimate.
Enterprise Products Partners delivered a strong third quarter of 2026, posting GAAP earnings of $0.75 per unit, ahead of the $0.73 consensus estimate by 2.12%, while revenue surged 49.3% year over year to $17.95 billion, clearing analyst expectations by nearly 19.85%. The GAAP figure includes $7 million of asset impairment charges, $3 million of net losses related to asset sales, and a $13 million mark-to-market loss in gross operating margin. The standout driver was the NGL Pipelines and Services segment, which lifted gross operating margin by $350 million to roughly $2.70 billion, fueled by record Permian Basin processing inlet volumes of 4.6 Bcf/d and the completion of the Neches River Terminal's second phase in May 2026, which expanded ethane and LPG export capacity. Operational distributable cash flow of approximately $2.30 billion covered the raised quarterly distribution of $0.56 per unit 1.9 times. Looking ahead, <a href="https://247wallst.com/investing/2026/10/25/can-epds-6-5b-growth-engine-defy-a-34b-debt-cloud-on-oct-29/">Enterprise's $6.30 billion growth pipeline</a> includes two projects due in the fourth quarter, the Athena Midland Basin processing plant and an expanded Houston Ship Channel LPG terminal, which management says provide clear visibility into future cash flow per unit growth through 2028.
- Permian natural gas processing inlet volumes hit a record 4.6 Bcf/d, up 12%; total processing inlet volumes hit a record 8.5 Bcf/d, up 6%
- Equivalent pipeline volumes reached a record 14.8 MMBPD, up 7%; marine terminal volumes rose 28% to 2.5 MMBPD
- NGL marketing gross operating margin rose $75 million on higher sales margins from export and processing strategies
- Frac 14 lifted NGL fractionation margin to $262 million from $203 million
- Second phase of the Neches River Terminal increased ethane export volumes by 139 MBPD and LPG export volumes by 149 MBPD on a combined basis
- Natural gas marketing margin rose $31 million; Delaware Basin Gathering System margin rose $17 million
- Octane enhancement margin rose $19 million on strong international demand for octane additives
“Enterprise reported strong operating and financial performance for the third quarter of 2026. We handled record volumes at our Permian Basin natural gas processing plants, our NGL pipelines, natural gas pipelines and ethane marine export terminals.”
Enterprise Products Partners CEO, on the earnings call
What Is Enterprise Products Partners's Outlook?
Growth capital spending for 2026, net of $600 million of asset sale proceeds, is expected at $2.9 to $3.4 billion, with $650 million of sustaining capex. Enterprise has $6.3 billion of growth projects under construction, scheduled to start operations through 2028. In 4Q 2026 it expects to complete two projects: the fourth expansion of its Houston Ship Channel LPG marine terminal, raising LPG loading capacity by about 300 MBPD to 1.1 MMBPD, and the Athena natural gas processing plant in the Midland Basin, with 300 MMcf/d of capacity and up to 40 MBPD of NGL extraction. Management says these projects give visibility into future growth in cash flow per unit.
EPD YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $17.9B | $12.0B | +49.3% |
| Operating Income | $2.0B | $1.7B | +18.0% |
| Net Income | $1.6B | $1.3B | +21.3% |
EPD Revenue by Segment
When Does Enterprise Products Partners Report Next?
Figures from SEC filings and company reports. Not investment advice.