May 10, 2011
Enterprise Products Partners L.P. (NYSE:EPD) reported Q1 EPS of $0.49 today, beating the consensus estimate for $0.44 per share. Revenues for the quarter were up 19% year-over-year to $10.18 billion, easily topping the consensus estimate for $8.86 billion.
Michael A. Creel, president and CEO of Enterprise stated, "Enterprise had a record first quarter to begin 2011. Our 50,000-mile system of natural gas, NGL, refined products, crude oil and petrochemical pipelines continues to operate at record or near record volumes. We are continuing to benefit from production growth in the shale regions as well as increased demand for NGLs by the U.S. petrochemical industry and international markets. With few exceptions, the partnership's diversified mix of businesses had another strong quarter."
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