* Q4 profit/lpu $0.52 vs est of $0.48
* Q4 rev up 42 pct
* Sees 2010 sustaining capex $250 mln
* Sees investing $1.5 bln in “growth projects” in FY10
Feb 1 (BestGrowthStock) – Pipeline operator Enterprise Products
Partners LP (EPD.N: ) reported fourth-quarter earnings that beat
analysts’ estimates, helped by an increase in its pipeline
volumes.
For the quarter, net income was $406 million, or 60 cents
per limited partners unit (lpu), compared with $228 million, or
43 cents per lpu. Excluding items, the company earned 52 cents
per lpu.
Revenue rose 42 percent to $8.4 million.
Analysts on average were expecting Enterprise Products
Partners to earn 48 cents a share on revenue of $6.2 billion,
according to Thomson Reuters I/B/E/S.
Natural gas liquids, crude oil, refined products and
petrochemicals pipeline volumes increased 15 percent, while
natural gas pipeline volumes rose 2 percent compared with last
year, the company said.
Enterprise said it will invest $1.5 billion in growth
capital projects in 2010, and forecast about $250 million in
sustaining capital expenditures.
Shares of Enterprise closed at $30.67 Friday on the New
York Stock Exchange.
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(Reporting by Arup Roychoudhury in Bangalore; Editing by Maju
Samuel)
UPDATE 1-Enterprise Products Partners Q4 profit beats Street
