Enterprise Products Partners L.P. (NYSE:EPD) reported second-quarter 2025 earnings that beat EPS expectations but missed on revenue, setting multiple operating volume records. Earnings per unit were 66 cents, up 3%, while revenue was $11.36 billion, missing estimates of $14.19 billion. Distributable cash flow rose 7% to $1.9 billion, covering the $0.545 per-unit distribution.

Adjusted cash flow from operations remained steady at $2.1 billion, with a 12-month total of $8.6 billion. Enterprise repurchased $110 million in common units, maintaining a 57% payout ratio. Despite market challenges, the company set new operating records across various segments, including natural gas processing and crude oil pipeline volumes.

Gross operating margin rose to $2.5 billion, with NGL Pipelines & Services at $1.3 billion and Natural Gas Pipelines & Services surging to $417 million. Crude Oil Pipelines & Services fell to $403 million, and Petrochemical & Refined Products slipped to $354 million. Enterprise reaffirmed $6 billion in organic growth projects for the second half of 2025.

The company invested $1.3 billion in the quarter, including $1.2 billion in growth capital. Full-year organic growth capex guidance is $4.0 billion to $4.5 billion, with $525 million in sustaining expenditures. As of June 30, total debt was $33.1 billion, with consolidated liquidity of $5.1 billion. EPD shares are trading lower by 1.38% at $31.12.

Read more at Yahoo Finance: Enterprise Products Partners Posts Strong Cash Flow, Reaffirms Capex Plan