Enterprise Products Partners Beats on Q4 EPS
It was a year to remember for Enterprise Products Partners . The energy midstream specialist released its fourth-quarter and fiscal 2013 results, with several line items notching all-time highs in the latter period. For the quarter, revenue was slightly more than $13 billion, bettering the $11.1 billion in the same period the previous year. Attributable net income was $699 million ($0.75 per diluted unit), against fourth-quarter 2012's $616 million ($0.68).
Analysts had expected a per-unit net of $0.71.
For the full year, Enterprise Products Partners posted a top line of $47.7 billion, notably higher than the $42.6 billion it reaped in 2012. Attributable net was $2.6 billion, or $2.82 per diluted unit, with both figures being new fiscal year records. Attributable net in 2012 was $2.4 billion ($2.71 per diluted unit).
In the press release announcing the news, company CEO Michael Creel said the improvements were due to "record volumes in our fee-based businesses attributable to production growth and from strong domestic and international demand for [natural gas liquids], particularly from the U.S. petrochemical industry."
The article Enterprise Products Partners Beats on Q4 EPS originally appeared on Fool.com.Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Enterprise Products Partners L.P.. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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