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Enterprise Products Partners (EPD) Q2 FY2022 earnings: revenue $16.1 billion, up 69.9% on the year

Enterprise Products Partners L.P. (EPD) reported revenue of $16.1 billion for Q2 FY2022, the quarter ended 30 June 2022, up 69.9% on the same quarter a year earlier. Net income was $1.4 billion, up 26.9% on the year, and diluted earnings per share $0.64. The figures are the company's own, from the 10-Q it filed with the SEC on 9 August 2022.

Revenue$16.1 billionup 69.9%
Net income$1.4 billionup 26.9%
Diluted EPS$0.64
QuarterQ2 FY2022ended 30 June 2022

The quarter, against the one before and a year earlier

LineQ2 FY2022Q1 FY2022A year earlierChange on the year
Revenue16,06013,008n/an/a
Cost of revenue12,90810,098n/an/a
Gross profit3,1522,910n/an/a
Gross margin19.6%22.4%n/a
Operating income1,7641,666n/an/a
Operating margin11.0%12.8%n/a
Interest expense309319n/an/a
Pre-tax income1,4571,350n/an/a
Income tax17.019.0n/an/a
Effective tax rate1.2%1.4%n/a
Net income1,4111,296n/an/a
Net margin8.8%10.0%n/a
Diluted EPS$0.64$0.59n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2022Q1 FY2022A year earlierChange on the year
Operating cash flow2,1192,145n/an/a
Capital expenditure382349n/an/a
Free cash flow1,7371,796n/an/a
Free cash flow margin10.8%13.8%n/a
Cash from investing-336-3,532n/an/a
Cash from financing-1,839-1,125n/an/a
Depreciation and amortisation490479n/an/a
Share-based compensation41.039.0n/an/a
Buybacks35.00.0n/an/a
Diluted shares, weighted2,201m2,199mn/an/a
Shares outstanding at period end2,179m2,180mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2022Q1 FY2022A year earlierChange on the year
Debt28,78129,518n/an/a
Operating lease liabilities345350n/an/a
Total liabilities and equity70,35070,319n/an/a
Fixed assets44,12944,033n/an/a
Goodwill5,6085,608n/an/a
Intangible assets4,0564,101n/an/a
Cash and equivalents231231n/an/a
Receivables8,4218,995n/an/a
Inventory3,2342,652n/an/a
Other assets4,6714,699n/an/a
Total assets70,35070,319n/an/a

Questions

What was Enterprise Products Partners' revenue in Q2 FY2022?

Enterprise Products Partners (EPD) reported revenue of $16.1 billion for Q2 FY2022, the quarter ended 30 June 2022, up 69.9% on the same quarter a year earlier.

How much did Enterprise Products Partners earn in Q2 FY2022?

Net income for Q2 FY2022 was $1.4 billion, up 26.9% on the year, and diluted earnings per share $0.64.

When did Enterprise Products Partners report Q2 FY2022 results?

Enterprise Products Partners filed its 10-Q for the quarter ended 30 June 2022 with the SEC on 9 August 2022.

Quarterly results, the last 20 quarters

Q3 FY2021 †Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue10,83111,37013,00816,06015,46813,65012,44410,65111,99814,62214,76013,48313,77514,20115,41711,36312,02313,79314,38618,269
Cost of revenue8,1138,67110,09812,90812,31910,5119,3317,6798,78611,22711,40510,18410,38710,60412,0057,8998,59010,07210,67814,160
Gross profit2,7182,6992,9103,1523,1493,1393,1132,9723,2123,3953,3553,2993,3883,5973,4123,4643,4333,7213,7084,109
Gross margin25%24%22%20%20%23%25%28%27%23%23%24%25%25%22%30%29%27%26%22%
Operating income1,5131,4041,6661,7641,7121,7651,7341,5791,6951,9211,8221,7651,7801,9711,7611,7951,6862,0241,8952,249
Operating margin14%12%13%11%11%13%14%15%14%13%12%13%13%14%11%16%14%15%13%12%
Interest expense316328319309309307314302328325331332343346340332354375385384
Pre-tax income1,1981,0771,3501,4571,4101,4801,4321,2961,3721,6011,5041,4371,4511,6431,4301,4701,3431,6561,5181,868
Tax rate1%1%1%1%1%2%1%1%2%-0%1%1%1%1%2%1%-1%-0%1%1%
Net income1,1531,0281,2961,4111,3601,4201,3901,2531,3181,5681,4561,4051,4171,6191,3931,4351,3381,6441,4821,840
Net margin11%9%10%9%9%10%11%12%11%11%10%10%10%11%9%13%11%12%10%10%
Diluted EPS$0.52$0.47$0.59$0.64$0.62$0.65$0.63$0.57$0.60$0.72$0.66$0.64$0.65$0.74$0.64$0.66$0.61$0.75$0.68$0.84
Operating cash flow2,3702,1252,1452,1191,0502,7251,5831,9021,7182,3662,1111,5742,0722,3582,3142,0611,7382,4721,4693,181
Capital expenditure5044183493824727616537808211,0121,0471,2641,1741,0591,0621,2991,9581,3019831,158
Free cash flow1,8661,7081,7961,7375781,9649301,1228971,3541,0643108981,2991,252762-2201,1714862,023
Buybacks74.91250.035.072.014317.075.00.096.040.040.076.063.060.011080.050.0116159
Shares outstanding2,182m2,176m2,180m2,179m2,176m2,171m2,175m2,172m2,172m2,168m2,172m2,170m2,168m2,166m2,169m2,165m2,163m2,162m2,164m2,159m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2022, filed 9 August 2022: the filing.