Enterprise Products Partners L.P. reported a decline in financial performance for the second quarter of 2025, with total revenues of $11.36 billion, down from $13.48 billion in the same period last year. For the first half of 2025, revenues also decreased to $26.78 billion from $28.24 billion in 2024. The decrease in revenue was primarily attributed to lower marketing revenues from the sale of natural gas liquids (NGLs) and crude oil, which fell by a combined $2 billion due to lower average sales prices, despite a slight increase in sales volumes.
Operating costs and expenses for the second quarter of 2025 decreased to $9.66 billion from $11.82 billion in the prior year, reflecting a reduction in the cost of sales associated with lower average purchase prices. The company reported a net income of $1.45 billion for the quarter, slightly up from $1.42 billion in the previous year, while net income attributable to common unitholders was $1.44 billion, compared to $1.41 billion in Q2 2024. Earnings per common unit for the quarter were $0.66, consistent with the previous year.
In terms of operational developments, Enterprise Products announced the acquisition of an affiliate of Occidental Petroleum Corporation for $580 million, which includes approximately 200 miles of natural gas gathering pipelines in the Midland Basin. This acquisition is expected to close in the third quarter of 2025 and is part of the company's strategy to expand its natural gas processing capabilities. Additionally, the company has begun initial service at its Neches River Ethane/Propane Export Facility and placed two new natural gas processing trains into service, enhancing its operational capacity.
The company’s total assets increased to $77.44 billion as of June 30, 2025, compared to $77.17 billion at the end of 2024. Current assets also rose to $14.16 billion from $15.13 billion, driven by an increase in cash and cash equivalents. The company’s long-term debt stood at $31.11 billion, up from $30.75 billion at the end of 2024, reflecting ongoing investments in growth capital projects. The outlook for the remainder of 2025 remains cautious, with management emphasizing the importance of maintaining liquidity and managing capital investments effectively in response to market conditions.
About ENTERPRISE PRODUCTS PARTNERS L.P.
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