Enterprise Products Remains Resilient in Uncertain Environment
Attachment: Enterprise Projects
SUGAR LAND--April 30, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream owner and operator Enterprise Products Partners (NYSE:EPD) (Houston, Texas) is coming off a strong first quarter and remains resilient as uncertainty looms within the energy sector because of the COVID-19 pandemic and the precipitous drop in global oil demand and prices. The company posted net income of $1.4 billion in first-quarter 2020, compared with $1.3 billion in the prior-year quarter. While the company has reduced and/or deferred 2020 capital expenditures by $1.1 billion, it still expects growth capital spending of $2.5 billion to $3 billion this year. The company also is exploring joint-venture opportunities, which could further reduce capital expenditures.
