Filing Flows › Enterprise Products Partners L.P. (EPD) › Q1 2025
Enterprise Products Partners L.P. (EPD) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Enterprise Products Partners L.P. (EPD) reported revenue of $15.4B for the first quarter 2025 (Q1 2025), +4% from a year earlier and +9% from the quarter before. Operating margin was 11.4%, net earnings $1.4B (9.0% of revenue).
Enterprise Products Partners L.P., Q1 2025: revenue $15.4B (+4% year over year), operating margin 11.4%, net earnings $1.4B, operating cash flow $2.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.4B | +9% | +4% |
| Operating profit | $1.8B | -11% | -3% |
| Net earnings | $1.4B | -14% | -4% |
| Operating cash flow | $2.3B | -2% | +10% |
| Free cash flow | $1.3B | -4% | +18% |
What changed
Revenue was $15.4B in Q1 2025, up 4% year over year and up 9% from the previous quarter. NGL Pipelines & Services was the largest line at 35% of revenue. Natural Gas Pipelines & Services added $0.37B year over year (up 43%), 56% of the total change. Crude Oil Pipelines & Services declined 5%.
Operating profit was $1.8B, a 11.4% margin (down 0.9 points year over year). Operating profit fell $0.06B even though revenue rose $0.66B versus a year earlier, so costs grew faster than sales. Total costs grew 6% against revenue growth of 4%. Net earnings were $1.4B, down 4% year over year. The effective tax rate was 1.7%.
Operating cash flow was $2.3B (up 10% year over year), 165% of net earnings. Non-cash charges added back $0.56B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.30B. Capital expenditures of $1.1B left free cash flow of $1.3B.
Questions
What was Enterprise Products Partners L.P.'s revenue in the first quarter 2025?
Enterprise Products Partners L.P.
Was Enterprise Products Partners L.P. profitable in the first quarter 2025?
Operating profit was $1.8B (11.4% of revenue) and net earnings $1.4B.
Source: Enterprise Products Partners L.P. 10-Q on SEC EDGAR.