ENTERPRISE PRODUCTS PARTNERS L.P.

EPD 10-Q · Q1 2026

EPD Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue 14,386 15,417 -6.7%
Show Product Lines breakouts
Fractionation and isomerization · Petrochemical & Refined Products Services 87 103 -15.5%
Natural gas processing and fractionation · NGL Pipelines & Services 342 352 -2.8%
Oil And Gas Service · Crude Oil Pipelines & Services 294 296 -0.7%
Oil And Gas Service · Natural Gas Pipelines & Services 475 436 +8.9%
Oil And Gas Service · NGL Pipelines & Services 763 749 +1.9%
Oil And Gas Service · Petrochemical & Refined Products Services 349 349 0.0%
Sales of crude oil · Crude Oil Pipelines & Services 6,005 4,825 +24.5%
Sales of natural gas · Natural Gas Pipelines & Services 632 785 -19.5%
Sales of NGLs and related products · NGL Pipelines & Services 3,269 4,651 -29.7%
Sales of petrochemicals and refined products · Petrochemical & Refined Products Services 2,599 3,326 -21.9%
Storage and terminals · Crude Oil Pipelines & Services 116 107 +8.4%
Storage and terminals · NGL Pipelines & Services 95 85 +11.8%
Storage and terminals · Petrochemical & Refined Products Services 83 71 +16.9%
Transportation · Crude Oil Pipelines & Services 178 189 -5.8%
Transportation · Natural Gas Pipelines & Services 475 436 +8.9%
Transportation · NGL Pipelines & Services 326 312 +4.5%
Transportation · Petrochemical & Refined Products Services 179 175 +2.3%
Show Business Segments breakouts
Crude Oil Pipelines & Services 6,299 5,121 +23.0%
Crude Oil Pipelines & Services · Intersegment Elimination -11,727 -10,622 -10.4%
Crude Oil Pipelines & Services · Operating Segments 6,294 5,115 +23.0%
Crude Oil Pipelines & Services · Operating Segments 5 6 -16.7%
Crude Oil Pipelines & Services · Operating Segments 18,026 15,743 +14.5%
Natural Gas Pipelines & Services 1,107 1,221 -9.3%
Natural Gas Pipelines & Services · Intersegment Elimination -352 -232 -51.7%
Natural Gas Pipelines & Services · Operating Segments 1,100 1,216 -9.5%
Natural Gas Pipelines & Services · Operating Segments 7 5 +40.0%
Natural Gas Pipelines & Services · Operating Segments 1,459 1,453 +0.4%
NGL Pipelines & Services 4,032 5,400 -25.3%
NGL Pipelines & Services · Intersegment Elimination -16,548 -17,017 +2.8%
NGL Pipelines & Services · Operating Segments 4,028 5,398 -25.4%
NGL Pipelines & Services · Operating Segments 4 2 +100.0%
NGL Pipelines & Services · Operating Segments 20,580 22,417 -8.2%
Petrochemical & Refined Products Services 2,948 3,675 -19.8%
Petrochemical & Refined Products Services · Intersegment Elimination -4,918 -7,195 +31.6%
Petrochemical & Refined Products Services · Operating Segments 2,948 3,675 -19.8%
Petrochemical & Refined Products Services · Operating Segments 7,866 10,870 -27.6%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Commodity Contract 51 -14 +464.3%
Show Consolidation Items breakouts
Intersegment Elimination -33,545 -35,066 +4.3%
Operating Segments 47,931 50,483 -5.1%
Operating Segments · Nonrelated Party 14,370 15,404 -6.7%
Operating Segments · Related Party 16 13 +23.1%
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 16 13 +23.1%
Nonrelated Party 14,370 15,404 -6.7%
Related Party 16 13 +23.1%
Cost of Revenue 10,678 12,005 -11.1%
Show Business Segments breakouts
Crude Oil Pipelines & Services · Operating Segments 17,606 15,307 +15.0%
Natural Gas Pipelines & Services · Operating Segments 754 899 -16.1%
NGL Pipelines & Services · Operating Segments 18,425 20,433 -9.8%
Petrochemical & Refined Products Services · Operating Segments 7,133 10,156 -29.8%
Show Consolidation Items breakouts
Operating Segments 43,918 46,795 -6.1%
Total Costs & Expenses 12,567 13,750 -8.6%
Show Related Party Transaction breakouts
Administrative Services Agreement · Affiliated Entity 413 380 +8.7%
Show Related Party Transactions By Related Party breakouts
Affiliated Entity 421 387 +8.8%
Equity Method Investee 42 38 +10.5%
Related Party 463 425 +8.9%
General & Administrative 64 60 +6.7%
Show Related Party Transaction breakouts
Administrative Services Agreement · Affiliated Entity 31 29 +6.9%
Show Related Party Transactions By Related Party breakouts
Nonrelated Party 29 27 +7.4%
Related Party 35 33 +6.1%
Operating Income 1,895 1,761 +7.6%
Non-Operating Income (Expense) -377 -331 -13.9%
Interest Expense -385 -340 -13.2%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Interest Rate Contract 2 1 +100.0%
Other Non-Operating Income (Expense) 1 1 0.0%
Income Before Taxes 1,518 1,430 +6.2%
Income Tax Expense (Benefit) -22 -24 +8.3%
Net Income 1,496 1,406 +6.4%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income 43 -25 +272.0%
Net Income 1,482 1,393 +6.4%
Comprehensive Income 1,131 1,442 -21.6%
Wtd Avg Shares (Diluted) 2,187 2,191 -0.2%
Income Loss From Equity Method Investments 76 94 -19.1%
Show Business Segments breakouts
Crude Oil Pipelines & Services 54 72 -25.0%
Crude Oil Pipelines & Services · Operating Segments 54 72 -25.0%
Natural Gas Pipelines & Services 2 2 0.0%
Natural Gas Pipelines & Services · Operating Segments 2 2 0.0%
NGL Pipelines & Services 19 20 -5.0%
NGL Pipelines & Services · Operating Segments 19 20 -5.0%
Petrochemical & Refined Products Services 1
Petrochemical & Refined Products Services · Operating Segments 1
Show Consolidation Items breakouts
Operating Segments 76 94 -19.1%
Operating Lease Lease Income 5 4 +25.0%
Net Income Loss Available To Common Stockholders Basic 1,467 1,380 +6.3%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax (Q)
Show Derivative Risk breakouts
Commodity Contract -308 22 -1500.0%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 191 220 -13.2%
Restricted Cash And Cash Equivalents At Carrying Value 203 234 -13.2%
Accounts Receivable (Q)
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 1
Nonrelated Party 8,344
Related Party 1
Inventory 5,234
Derivative Assets Current 991 615 +61.1%
Prepaid Expenses & Other Current Assets 713 606 +17.7%
Total Current Assets 15,677
Show Consolidation Items breakouts
Corporate Non Segment 15,677
Non-Current Assets
Property, Plant & Equipment 51,728
Goodwill 5,712
Other Non-Current Assets 1,163
Show Consolidation Items breakouts
Corporate Non Segment 1,163
Total Assets 80,559
Show Business Segments breakouts
Crude Oil Pipelines & Services · Operating Segments 11,187
Natural Gas Pipelines & Services · Operating Segments 13,136
NGL Pipelines & Services · Operating Segments 25,019
Petrochemical & Refined Products Services · Operating Segments 11,738
Show Consolidation Items breakouts
Operating Segments 61,080
Operating Lease Right-of-Use Assets 420
Show Property Plant And Equipment By Type breakouts
Energy Equipment 236
Office and warehouse space 155
Transportation Equipment 29
Other Assets
Investments In Affiliates Subsidiaries Associates And Joint Ventures 2,176
Show Business Segments breakouts
Crude Oil Pipelines & Services 1,577
Natural Gas Pipelines & Services 31
NGL Pipelines & Services 566
Petrochemical & Refined Products Services 2
Intangible Assets Net Excluding Goodwill 4,103
Show Business Segments breakouts
Crude Oil Pipelines & Services 1,465
Crude Oil Pipelines & Services · Contractual Rights 3
Crude Oil Pipelines & Services · Customer Relationships 1,462
Natural Gas Pipelines & Services 1,519
Natural Gas Pipelines & Services · Contractual Rights 877
Natural Gas Pipelines & Services · Customer Relationships 642
NGL Pipelines & Services 1,019
NGL Pipelines & Services · Contractual Rights 861
NGL Pipelines & Services · Customer Relationships 158
Petrochemical & Refined Products Services 100
Petrochemical & Refined Products Services · Contractual Rights 20
Petrochemical & Refined Products Services · Customer Relationships 80
Current Liabilities
Current Portion of Long-Term Debt 2,712
Accounts Payable (Q)
Show Related Party Transactions By Related Party breakouts
Affiliated Entity 88
Equity Method Investee 20
Nonrelated Party 1,297
Related Party 108
Accrued Product Payables 11,183 9,421 +18.7%
Interest Payable Current 288 261 +10.3%
Derivative Liabilities Current 992 538 +84.4%
Other Liabilities Current 642 774 -17.1%
Total Current Liabilities 17,222 14,872 +15.8%
Deferred Revenue (Current) 161
Non-Current Liabilities
Long-Term Debt 31,202
Deferred Tax Liabilities 716
Other Non-Current Liabilities 1,028 915 +12.3%
Operating Lease Liabilities 363
Contract With Customer Liability Noncurrent 274
Stockholders' Equity
Redeemable Noncontrolling Interest Equity Preferred Carrying Amount 44 50 -12.0%
Treasury Stock Preferred Value -1,297 -1,297 0.0%
Accumulated Other Comprehensive Income -15 285 -105.3%
Total Liabilities & Equity 80,559 75,406 +6.8%
Limited Partners Capital Account 30,838 29,927 +3.0%
Partners Capital 29,526 28,915 +2.1%
Partners Capital Attributable To Noncontrolling Interest 821 860 -4.5%
Partners Capital Including Portion Attributable To Noncontrolling Interest 30,347 29,775 +1.9%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Commodity Contract -165 139 -218.7%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Interest Rate Contract 148 144 +2.8%
Accumulated Other Comprehensive Income -15 285 -105.3%
Other 2 2 0.0%
Show Partner Capital Components breakouts
Accumulated Other Comprehensive Income -15 285 -105.3%
Limited Partner 30,838 29,927 +3.0%
Noncontrolling Interest 821 860 -4.5%
Treasury Stock Common -1,297 -1,297 0.0%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Deferred Income Taxes 14 11 +27.3%
Change in Accounts Receivable -1,852 1,384 -233.8%
Change in Inventory -1,266 736 -272.0%
Change in Other Liabilities -21 -74 +71.6%
Net Cash from Operations 1,469 2,314 -36.5%
Investing Activities
Other Investing Activities -5 -4 -25.0%
Net Cash from Investing -381 -1,047 +63.6%
Financing Activities
Share Repurchases -116 -60 -93.3%
Debt Repayments -22,974 -19,423 -18.3%
Debt Issuance Costs -4 -12 +66.7%
Net Cash from Financing -1,939 -1,651 -17.4%
Supplemental
Interest Paid 659 611 +7.9%
Other Cash Flow
Net Change in Cash -851 -384 -121.6%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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