Enterprise Products Partners (NYSE:EPD) reported strong financial results for the first quarter of 2026 on Tuesday, April 28, headlined by double-digit growth in adjusted EBITDA and continued commitment to unitholder returns.
The Houston-based midstream leader posted net income attributable to common unitholders of $1.5 billion, or $0.68 per diluted unit, representing a 6% increase compared to the first quarter of 2025.
The partnership’s adjusted EBITDA rose 10% year-over-year to $2.7 billion, driven by an 8% increase in operating income which reached $1.9 billion.
This performance was underpinned by high utilization across its integrated midstream network and robust demand for NGL, crude oil, and natural gas services.
Adjusted Cash Flow from Operations (CFFO) also saw a significant 10% uptick, totaling $2.3 billion for the quarter.
Operational Distributable Cash Flow (DCF) was $2.1 billion, providing a comfortable 1.8x coverage of the distributions declared for the quarter.
Enterprise also declared a distribution of $0.55 per common unit ($2.20 annualized), a 2.8% increase over the prior year.
The partnership remains focused on a balanced capital allocation strategy, retaining $1.5 billion of DCF to fund organic growth projects and maintain a strong balance sheet.
Elsewhere, the company continued its buyback activity, repurchasing $116 million of common units during the quarter.
To date, the partnership has utilized 31% of its $5 billion buyback program.
As of March 31, 2026, Enterprise maintained a solid liquidity position of $3.3 billion, consisting of available credit under revolving facilities and unrestricted cash.