Filing Flows › Enterprise Products Partners L.P. (EPD) › Q2 2025
Enterprise Products Partners L.P. (EPD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Enterprise Products Partners L.P. (EPD) reported revenue of $11.4B for the second quarter 2025 (Q2 2025), -16% from a year earlier and -26% from the quarter before. Operating margin was 15.8%, net earnings $1.4B (12.6% of revenue).
Enterprise Products Partners L.P., Q2 2025: revenue $11.4B (-16% year over year), operating margin 15.8%, net earnings $1.4B, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.4B | -26% | -16% |
| Operating profit | $1.8B | +2% | +2% |
| Net earnings | $1.4B | +3% | +2% |
| Operating cash flow | $2.1B | -11% | +31% |
| Free cash flow | $762M | -39% | +146% |
What changed
Revenue was $11.4B in Q2 2025, down 16% year over year and down 26% from the previous quarter. Crude Oil Pipelines & Services was the largest line at 42% of revenue. Crude Oil Pipelines & Services lost $1.1B year over year (down 19%), 52% of the total change.
Operating profit was $1.8B, a 15.8% margin (up 2.7 points year over year). Total costs fell 18% while revenue fell 16%. The fastest-growing cost line was General & admin (+19%). Net earnings were $1.4B, up 2% year over year. The effective tax rate was 1.1%.
Operating cash flow was $2.1B (up 31% year over year), 142% of net earnings. Non-cash charges added back $0.56B of depreciation and amortization and $0.05B of share-based compensation. Capital expenditures of $1.3B left free cash flow of $0.76B.
Questions
What was Enterprise Products Partners L.P.'s revenue in the second quarter 2025?
Enterprise Products Partners L.P.
Was Enterprise Products Partners L.P. profitable in the second quarter 2025?
Operating profit was $1.8B (15.8% of revenue) and net earnings $1.4B.
Source: Enterprise Products Partners L.P. 10-Q on SEC EDGAR.