Houston pipeline operator Enterprise Products Partners Reports a $1 Billion Profit During the Third Quarter but missed Wall Street revenue expectations amid weaker commodity prices for crude oil, natural gas and natural gas liquids such as ethane, propane and butane.
Enterprise reported a $1 billion profit on nearly $8 billion of revenue during the third quarter. The figures were down compared to the $1.3 billion of profit on $9.6 billion of revenue during the third quarter of 2018.
The company’s third quarter results translated into earnings per share of 46 cents, which were down compared to earnings per share of 60 cents during the same time period last year. [read more]