Earnings Beat: Headquartered in Houston, TX, Enterprise Products Partners L.P. (EPD - Free Report) reported first-quarter earnings of 57 cents per share. The bottom-line surpassed the Zacks Consensus Estimate of 47 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the past seven days.
Enterprise Products has an impressive earnings surprise history. The partnership managed to beat the Zacks Consensus Estimate in all of the last four quarters, the average positive earnings surprise being 12.4%.
Revenues Miss: Revenues of $8,543.5 million missed the Zacks Consensus Estimate of $8,860 million.
Key Stats: Adjusted distributable cash flow was at a record level of $1.6 billion, up 18% year over year and provided coverage of 1.7x. The partnership retained $665 million of distributable cash flow.
Notably, NGL, crude oil, refined products & petrochemical pipeline volumes were recorded at 6.5 million barrels per day level in the first quarter of 2019.
Zacks Rank: Currently, Enterprise Products has a Zacks Rank #2 (Buy) but that could change following its first-quarter 2019 report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Enterprise Products earnings report later!
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Earnings Beat: Headquartered in Houston, TX, Enterprise Products Partners L.P. (EPD - Free Report) reported first-quarter earnings of 57 cents per share. The bottom-line surpassed the Zacks Consensus Estimate of 47 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the past seven days.
Enterprise Products has an impressive earnings surprise history. The partnership managed to beat the Zacks Consensus Estimate in all of the last four quarters, the average positive earnings surprise being 12.4%.
Revenues Miss: Revenues of $8,543.5 million missed the Zacks Consensus Estimate of $8,860 million.
Key Stats: Adjusted distributable cash flow was at a record level of $1.6 billion, up 18% year over year and provided coverage of 1.7x. The partnership retained $665 million of distributable cash flow.
Notably, NGL, crude oil, refined products & petrochemical pipeline volumes were recorded at 6.5 million barrels per day level in the first quarter of 2019.
Zacks Rank: Currently, Enterprise Products has a Zacks Rank #2 (Buy) but that could change following its first-quarter 2019 report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Enterprise Products earnings report later!
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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