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Enterprise Products Partners EPD Q1 2026 earnings

Reported April 28, 2026 · Before market open

Revenue$14.4BBeat by $770.2M
EPS$0.68Miss by $0.03
Revenue estimate$13.6B
EPS estimate$0.71
“Enterprise began 2026 with a strong start in the first quarter, Contributions from new assets placed in service over the past year and continuing to volumetrically ramp up, such as the Bahia NGL pipeline, NGL fractionator 14 and three Permian natural gas processing plants, led to record volumes across most of our integrated system. In total, our partnership set 12 new operational records during the quarter including for natural gas processing inlet volumes of 8.3 Bcf/d, equivalent pipeline volumes of 14.2 MMBPD, NGL fractionation volumes of 1.9 MMBPD and marine terminal volumes of 2.3 MMBPD. This volume growth together with higher utilization rates at our PDH facilities, an increase in natural gas pipeline and marketing volumes and margins and higher values for 234 MBPD of equity NGL-equivalent production led to a quarter of strong earnings and cash flow.
Management

Next report

Oct 29, 2026 (In 3 weeks)
Revenue estimate$15.6B
EPS estimate$0.75

Financials

Q1 2026

Income statement

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Revenue$14.4B-6.7%
Operating income$1.9B+7.6%
Net income$1.5B+6.4%
EPS (diluted)$0.68+6.3%

Balance sheet

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Cash & equivalents$394.0M-13.2%
Total debt$34.4B+7.3%
Total equity$30.3B+1.9%
Total assets$80.6B+6.8%

Cash flow

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Operating cash flow$1.5B-36.5%
CapEx$983.0M-7.4%
Free cash flow$486.0M-61.2%

Valuation & ratios

Valuation

as of 03/31/26
See full
Market cap$81.8B+10.6%
Enterprise value$115.79B+9.7%
P/E13.9×+1.2×
P/S1.6×+0.3×

Profitability

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Operating margin14.4%+1.6pp
Net margin11.4%+1.2pp
FCF margin4.7%-1.9pp

Returns & leverage

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Return on equity19.6%-0.4pp
Debt / equity1.1×+0.1×
Current ratio0.9×+0.1×

Segments

By segment

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NGL Pipelines & Services$20.6B-8.2%
Crude Oil Pipelines & Services$18.0B+14.5%
Petrochemical & Refined Products Services$7.9B-27.6%
Natural Gas Pipelines & Services$1.5B+0.4%

By product

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Transportation$1.2B+4.1%
Storage and terminals$294.0M—

FAQ

When did Enterprise Products Partners report Q1 2026 earnings?
Enterprise Products Partners (EPD) reported Q1 2026 earnings on April 28, 2026 before market open.
What were Enterprise Products Partners's Q1 2026 revenue and EPS?
Enterprise Products Partners reported revenue of $14.4B and eps of $0.68 for Q1 2026.
Did Enterprise Products Partners beat estimates in Q1 2026?
Revenue beat the consensus estimate of $13.6B by $770.2M. EPS missed the consensus estimate of $0.71 by $0.03.
How did Enterprise Products Partners's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 6.7% from $15.4B a year earlier and eps grew 6.3% from $0.64.
Where can I find Enterprise Products Partners's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001061219-26-000010) and the 10-Q periodic report (0001061219-26-000014) directly on SEC EDGAR. The filing index links above go to sec.gov.