FX.co ★ Enterprise Products Partners LP Q1 Income Rises, but misses estimates

Enterprise Products Partners LP (EPD) recently announced that their profits for the first quarter of the current fiscal year have risen in comparison to those of the previous year, albeit falling short of initial estimates by financial experts.

The firm recorded a first-quarter earning of $1.46 billion, equivalent to $0.66 per share, a slight increase from the preceding year's $1.39 billion, or $0.63 per share. The general market expectation, as compiled by Thomson Reuters, was an earning of $0.67 per share. It should be noted that these expectations usually exclude special items.

There was a considerable surge in the company's revenue for the quarter under consideration, with a 18.6% increase from last year. This implies that revenue has climbed from $12.44 billion to $14.76 billion.

To summarise Enterprise Products Partners LP's Quarter 1 earnings in accordance with Generally Accepted Accounting Principles (GAAP):

- Earnings for Q1 rose to $1.46 billion up from $1.39 billion in the last year.

- Earnings per Share (EPS) for Q1 were $0.66, a slight increase from $0.63 last year.

- Revenue for Q1 experienced an increase, coming in at $14.76 billion as opposed to $12.44 billion last year.