By Will FeuerEnterprise Products Partners reported lower revenue for the third quarter, weighed down by declining energy prices. The Houston-based pipeline company posted net income of $1.35 billion, or 60 cents a unit, compared with $1.39 billion, or 62 cents a unit, in the same quarter last year. Analysts surveyed by FactSet were expecting earnings of 64 cents a unit. Revenue was $12.00 billion in the quarter, down from $15.47 billion a year earlier, when the war between Russia and Ukraine was holding energy prices higher. Teague, co-chief executive of Enterprise's general partner, said strong volumes and lower utility costs offset the drop in natural gas and natural gas liquids prices.

Source: Wall Street Journal October 31, 2023 22:14 UTC