ENTERPRISE PRODUCTS PARTNERS L.P. [EPD] reports annual net loss of $5.7 billion
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Company Reports Revenue of $49.7 billion
ENTERPRISE PRODUCTS PARTNERS L.P. [EPD] has reported a net loss of $5.7 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $49.7 billion
Based in HOUSTON, Texas, ENTERPRISE PRODUCTS PARTNERS L.P. operates in the TRANSPORT sector.
In the 12 months ended December 31, 2023, the total revenues for the company amounted to $49.715 million, a decrease from $58.186 million in the same period in 2022. This decline was primarily driven by a decrease in revenues from third parties.
The total operating costs and expenses for the company in 2023 were $43.248 million, compared to $51.743 million in 2022. This decrease can be attributed to lower costs associated with third parties and other expenses.
The company reported a net income of $5.657 million in 2023, slightly higher than the net income of $5.615 million in 2022. This improvement in net income was driven by effective cost management strategies.
The basic earnings per common unit for the company in 2023 were $2.52, slightly higher than $2.5 in 2022. Similarly, the diluted earnings per common unit for 2023 stood at $2.52, compared to $2.5 in 2022.
Overall, the company showcased resilience and managed to maintain its profitability despite experiencing a drop in total revenues. Effective cost management played a crucial role in sustaining and slightly improving the net income figures for the period under review.
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