Enterprise Products Partners L.P. – Q2 2026 Results
Enterprise Products Partners L.P. (NYSE:EPD) announced second‑quarter 2026 adjusted earnings of $0.84 per unit, surpassing the analyst consensus of $0.75 per unit. Revenue for the quarter was $18.27 billion, well above the estimated $13.57 billion and up from $11.36 billion recorded in Q2 2025.
Net income attributable to common unitholders reached a record $1.8 billion, representing a 28% year‑over‑year increase. Adjusted EBITDA climbed 17% YoY to $2.8 billion. Operational distributable cash flow rose 21% to $2.3 billion, providing 1.9‑times coverage of the quarter’s declared distributions.
Total equivalent pipeline volumes hit a new high of 14.7 million barrels per day (MMBPD), an 8% increase versus the same quarter last year. Marine terminal volumes surged 33% YoY to 2.8 MMBPD. The partnership attributed the strong performance to record pipeline and marine terminal volumes driven by heightened international demand for U.S. energy in April and May, as well as new assets placed into service over the past year.
The board declared a quarterly distribution of $0.56 per common unit, annualizing to $2.24 per unit, a 2.8% YoY increase. Of the $2.3 billion operational cash flow, $1.1 billion was retained, and $159 million of common units were repurchased during the quarter.
For 2026, the partnership projects growth capital spending of $2.9 billion to $3.4 billion, net of $599 million in asset‑sale proceeds, and sustaining capital expenditures of $600 million.
Shares edged up 0.47% in pre‑market trading following the results.
"Enterprise reported strong volumes, earnings and cash flow for the second quarter of 2026," said A.J. "Jim" Teague, co‑chief executive officer.