EPD - Earnings call transcript Q2 2024 | Enterprise Products Partners L.P.

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Operator

Thank you for standing by, and welcome to Enterprise Products Partners L.P.'s Second Quarter 2024 Earnings Conference Call. [Operator Instructions] I would like to hand the call over to Libby Strait, Senior Director of Investor Relations. Please go ahead.

Libby Strait

Good morning, and welcome to the Enterprise Products Partners conference call to discuss second quarter 2024 earnings.

Our speakers today will be Co-Chief Executive Officers of Enterprise's General Partner, Jim Teague and Randy Fowler. senior today. are our for in of call the members management also team attendance Other

call, will Exchange this company information Section based During currently we the as XXE meaning within on Enterprise's made of of well the available as the by of to Securities beliefs Act assumptions XXXX make of the forward-looking and statements team. management

cause be can expectations that such our with forward-looking a reasonable, results to it in the of during will SEC for in list statements will to over forward-looking differ the such factors statements this those that that reflected from it give may that, I Please expectations Jim. turn actual believes assurance materially latest management call. With made to to Although the no refer correct. prove are filings

A. Teague

at though quarter be company equivalent marine processing volumes volumes the gas and our barrels day volumes. billion and million can a last barrels Thank $X.X had We We volume billion our $X.X cash had flow. in as retained solid record of and natural of cash second the flow. in reported in of fractionation handled up billion $XXX terminal X.Xx weakest of second quarter, compared the billion XX.X the record We near and We coverage quarter. DCF crude quarter, $X.X record oil quarter, seasonally you, Libby. for a EBITDA well quarter generated adjusted million $X.X year. we're We of to distributable million day terms year-to-date. Even of NGL another per pipeline same and as X.X

quarter our financially XXth volumetrically gross gas Services Pipeline reported complex. and XX% natural Mont our to segment, our compared second Permian Basin and of in Our investments to NGL last growth fractionator year, support the attributable area are NGL Permian in new our margin primarily the plants at increase X visible processing a to which in both operating the Belvieu and in

last In gas improvements benefited the in year. addition, to compared also natural we from processing margins

catalyst days. A bricks this This reactor. million turnaround. with one. XX,XXX running engineering handle, X.XX XX nameplate. exceeding had people factoids, X,XXX XXX bricks in every are the Pipelines is replaced. and margins a the XX% Natural per X,XXX quarter dedicated and very good addition somewhat marketing increase gross higher valued support catalyst primarily inspected, and up revenues spreads X a of been challenges lifts, and shift. for turnaround worked. between documented hours higher maintenance with to of the Our segment wider XX Those to team few plant hand transportation throughout This in is turnaround year plants. of issue currently the compared was and personnel. The over took operating had the hubs. We X, higher XX,XXX in XXXX. have field catalyst wheeler associated deliveries, the Services for had packages driven million reported the and a same market quarter also had pounds year. over PDH a developed turnaround by [indiscernible] executed, and each headwind The in XXX completed the PDH in team work recently Gas and increase our of took spite was turnaround At XXX solutions we've plant We turnaround now over crane we We involved peak, a They at its planning and our PDH margin

X turnarounds. and our like be work and long back-to-back service plants Belvieu hours sometime We as Mont be producing a of their expect it hard rest to team confident our involved mid-August. during PDH year. X. I'd to these that nearly X tailwind The around turnaround not providers as PGP these the will supporting is the thank for PDH We're

completed open system. this XXX,XXX those barrels the season on closed and are not -- We debottlenecks can a We our with diluent day horsepower demand I commitments, open then we X-year suite We TE customers. our reached while deals. incremental with product ensuring accommodate we the additions think contracted the season impact and and also of new of do existing

that X Delaware, X projects Finally, our associated billion future of processing gathering. and projects the include growth. plants, company earnings Basin, and to $X.X X has These in construction under the provide flow cash in visibility Midland

ship and Bahia pipeline, at expansions Our the terminal Neches NGL XX, at channel. the export Frac River and -- Neches

contracts And more see as by years projects already case NGL volumes of I'll is for the been forecasted. than a All long-term in the to backed running, to very these continue we strong we And the has on give and what enhance previously significantly chain. that, are from Randy. gas may Tony had Permian with value even turn over rich something this coming it several Q&A. And

W. Fowler

statement. Thank morning, for of This income attributable common income with billion over a unit quarter everyone. Starting $X.X per was right. increase Net XX% second was $X.XX the Good XXXX. you, second of or Jim. the All unitholders XXXX. the to quarter

amount. distribution $X.X XX% XXXX, operations, program total cash $XXX operating billion the million for buyback cash open Enterprise second of changes to XX of flow $X.X business to quarter, from the August of this a the the program repurchases year. We In the from XXXX adjusted before million second statement unitholders July which the activities distribution of quarter of XX second working this will total in second quarter last unit of for approximately XX. The $XX cash the for flow over billion declared months under or X.X partnership compared for brings X.X ending the capital, of a increase units, approximately purchases the on purchased common units is June declared second XX, number market X% quarter approximately million common distribution common off were XX% per Total of billion common Our and or the our paid about on to for tomorrow, be This flow record $X.XXX the $X increased close last million. the year. to for XXXX. of as quarter is

buybacks, to $XXX purchased unit during the the on reinvestment XXXX. market $XX combined million plan for including a units the for addition purchase during open X.X quarter market common our and last on second XX plan units In the common million million distribution of employee X.X months, open million

of same XX $X.X the For in limited in included million partners $X which XX, flow with distributions for XXXX, common $X.X the ending Enterprise's out quarter the cash $XXX from billion, was growth payout of the XXXX operations adjusted were Enterprise sustaining capital June paid of ratio over combined XX%. Total billion projects unit for and period, billion purchases, to expenditures. capital $XXX capital investments second million months

refine While this capital announcement growth did morning, export we XXXX our we LPG bottom our expenditures range. did for not expected the announced as of of change result the a

range Our billion current $X.XX growth capital estimate billion. in expenditures of of for $X.X now is to a XXXX

which X expect turnarounds for and and now capital range estimate $X.XX our in We billion. XXXX investments August. turnaround primarily be to completion to in The due high-purity expenditures completed facility. of at turnarounds the June associated These elevated the began with to typically X X growth our middle noted, expenditures to PDH XXXX continue to sustaining planned in to the turnaround iBDH plant years. facility, PDH capital $X.XX $XXX higher in $XXX anticipate PDH due capital XXXX are of from our the and as facility was at the be approximately every million, Jim million, We X costs June. late facility up X capital XXXX, we isobutylene sustaining occur million to

of outstanding approximately $XX.X June our debt total As was XXXX, XX, billion. principal

our portfolio average the was approximately for our Assuming of maturity the debt XX life final date hybrids, weighted years.

cost was X.X% rate. of debt Our approximately and of average our XX% weighted fixed was debt

quarter, Our end billion consolidated and availability our cash. approximately the facilities credit the $X.X unrestricted at under including liquidity was of

Our $X.X XX XX, quarter billion the second ending for June XXXX. months adjusted $X.X EBITDA and the was billion for

adjusted reduced As partnership's our on by basis was the consolidated ratio cash partial the our a equity unrestricted X.Xx leverage of net on of XXXX, and hybrids June treatment when hand. for

open leverage target minus plus remains we Libby, X.XXx. With X.Xx up questions. I can it think Our or that, for

Libby Strait

call And ready the operator, from you, questions our we are participants. Thank to open Randy. for

Operator

first Chen of the Barclays. from question comes Theresa Our line Instruction] of [Operator

Theresa Chen

Maybe with the LPG export. starting

you've think about you So us executed just expansions multiple the we what front, industry system? and left? have brownfield announced another expansion on that Can do terms inning capacity help you with of and your are How in buildup one more today. for just much across expansion export

W. Fowler

Yes.

expansion I term us. we our rates. execute around, contracts is market that to we this highly out that. expansion existing the said, for XX% our of additional And far morning product This as call -- capacity. it, opportunities We our announced opportunities have obviously But as brownfield have existing So to capacity, capacity. contracted using we additional XX% there and of brownfield was ahead concerning infrastructure like have at competitive are additional calling

Theresa Chen

per if And expansion compare Brent, system, brownfield someone into about across rate on value help your the perspective, part greenfield think you per with just this if And or chain wants to from a basis? right expansion going for that like get us unit gallon can what is NGL maybe how commercial of a now? does

Tug Hanley

rate, Tug it's talking, is to this specific competitive. relative into a more I but get won't greenfield, Theresa, but significantly

Theresa Chen

at an commercialization have this you spot the do follow-up, a as And update on point? of

A. Teague

-- up now. put construct, lightering, And what multi-lightering. across Jim. down you a competitive And concept. until look first is gotten were at those X multi-lightering, real done This out we if the effectively that looked and Yes. than to And down take we beat lightering. we we're XXX we've And of we board. over XXX lot it with marketing XXX determine better of a now, of a we single tracked Yes, we've heck the those into And we've is a license quartiles. lightering are how single at those hands a XXX, of versus our to quartiles, we and were ships work marketing single that. I'll hand competed we the and very been since project the and

at you tracked, if beat XXX ships the XXX those time ships we frame. tracked looked of we down over we ships, So hands and all that

now So the market to going it. if we're wants see

Operator

line Wells of question Blum Michael comes from next the of Fargo. Our

Michael Blum

can a seeing just guess back wanted what expand coming particularly that just us you're little So seeing discussion to capacity. end in refresh to China. on if a you I'm incremental as you're if continue wonder you from the market of And for bit. to interested lot demand LPG I go I export demand

Tug Hanley

This is Tug.

going XX% obviously important accordingly to we're price to equation do clear it, China, day, stand now, the right at export to call demand to the to of has but and barrel XX% With the Europe. our LPG so. the the our to barrel the China, exports end to around So fundamentally, the around, and but is also expansions, XX% Americas U.S. respect

seeing we're robust demand So board. across the

Michael Blum

said you Tug, LPG.

Tug Hanley

LPG. That's

Michael Blum

of LPG goes What percentage China. to

Tug Hanley

XX%. Around

A. Teague

Propane butane?

Tug Hanley

butane. Propane

A. Teague

okay. plants, PDH Okay,

Michael Blum

allocation And around just in to discussion revisit then wanted the I capital buybacks.

think understand method preferred distribution I this we that growth all over point Enterprise, returning buyback. is cash your at definitely of

just on opportunities I'm where capital us can the to especially growth to So pretty given refresh slate decide that you allocate returns. seems a if criteria have buybacks, organic wondering at like attractive you you nice of it

W. Fowler

in we and Michael, the come do is units equity And probably few what buybacks as done take is different, component outstanding. X number buy of over and we've overall in a we what that's back, the in the a in been terms issue see look last Yes, last of range. Yes, XXXX million over But $XXX Mike, this compensation. is in and and you'll a issue at not of coming years Randy. there years, we decrease what that the is targeting is compensation you what when doing

expenditures think get we're this billion that's talking CapEx. $X.X to billion year, our capital year, in back growth next I range, we focus. Once growth year and $X.XX out this the So again,

billion. more would to really think we're visibility back And of as there we room capital year, still keep $XXX million think estimating CapEx $X.X need thinking XXXX, as be, that XXXX I to those to in just growth I $X.XX distributions what increase get form out we're around buybacks. million some we far Next call probably we to to the on it, see That's buybacks at million. return Then like look have $X.XX to that range. Once then going and could capital. in get return

Operator

question next Tonet the comes from JPMorgan. of Jeremy line of Our

Jeremy Tonet

-- could wanted any just some on point. to share thoughts point acquiring peers industry Just wanted and to This see, assets. major been been I I wave within consolidation there's you been the see, midstream. midstream at guess, of role out I have your consolidation in is guess, that your wanted bolt-ons. get thoughts this at this There's some And of to Enterprise's about there I last

W. Fowler

Okay, -- Jim from we're I'll and Obviously, foremost, I flow also capital, at let growing did, provided in better take But returns that the good first returns cash of more I'll taken is flow and of a end Jeremy, and deal capital, value. what gives comment. and I growth. organic capital and good a opportunities, But us capital look public opportunities what relatively we've seen on thus at unit. that on strategic per going providing that's good cash of good on is unit. first acquisitions Navitas returns a to number the on crack standpoint, company looking we think on that would flow returns us day, the the per asset than, M&A. And we've capital and growing cash Because best drive growth far say, at what's returns is what our

really is. So focus our that's where

A. Teague

I Strategically, think kind talked plants. it plants the building about always we've fit the And Permian. we're in don't we're I have. building of through we think what we already said to has

be who be to price it build So we And It's put got right. fits where got it's are. has plant, got are. we to can fit -- it to a the when you who you

gray side, I in comes a So could organic of come we along the bankers at like I investment everything more think that you way say, here, from but look so.

Jeremy Tonet

to your for I you guess, power out generation to issues other that forward? Could ensure, how market just Texas overall. also, stability? there. relates thoughts it other get wondering your guess, wanted room about the to seen I ERCOT We've in kind as in instability own and Just I'm or there of measures going be feel

Graham Bacon

power situation is have each that need we in challenge sources power is working doing at generation This purchase looking and And either whether backup in their have need We that. our power the the work We're providers it West evaluate East you're we status other options. Texas with will other whether Certainly, evolves Texas to grid and some of provider different. other out things through a and is with basically or power acceptable be of available. Graham. -- do different, power projects to be or take can consistently. I'll hedging closely very or to Texas. Every and power

situation is individual. each So

Operator

line of Tristan next of Richardson Our from question the Scotiabank. comes

Tristan Richardson

And Just utilization your there Bahia, on on growth what on based for a give a you're can on case that Seminole you update on general comes updated as side. ramping progress and maybe just how the on? seeing supply see thoughts project then base you

Justin Kleiderer

feed so don't when to think them the there every think on we're this G&P of Kleiderer. in couple plants can NGL sort how Bahia by building the that done updates and Tristan, growth our a spoke fact that all will the with timing what then commercial also which you that well. quarters the platform, a we talked it, catch to of on system think premier -- is -- -- Justin underpinned strategically it's majority you totality of is have Bahia we a back just is, system Yes, have we're From to pipelines, understand about plants, think those we the is which supply that a think we the mean to from a about Jim perspective, that system have perspective. I the I track as third-party feeds go I from still we connectivity be volumes. And of

And all give look to plant capacity what to in the and that. have have always of So understand could pipelines really things optionality third, we conversions our like. look of potential and utilization sort of connectivity you that then really at like terms us

respect will with then that it's a those In we've I prime candidate been with repurposing, NGLs Bahia. happens, So Seminole, public I if to that. into for think case, which feed think

Tristan Richardson

And clarification then maybe a just question.

but about you about versus previously to EHT, talk talked announced had EHT morning expansion. outright an missed maybe talk facility slide a you guys upgrades there? as if -- little versus and you in bit maybe you this, the I day about I Can that the you capital think the in a could expansion for distinction what referred Sorry XXX this it

Tug Hanley

-- an XXX,XXX so the day. I adding barrels us we're infrastructure utilizing infrastructure mean, it's ultimately and there, refrigeration additional getting or expanding unit dock to infrastructure a existing existing dock pipeline that's

W. Fowler

was this that more ends was up original -- on project -- providing. different the I is of there train which between a commodities, new This project flexibility

Operator

of Dounis comes Our Citi. line of next Spiro question the from

Spiro Dounis

on to built. mentioned what's the pipeline, this CapEx, you've fracs of point. maybe just of a plenty missing like want of expansion, coming is one, a get of or still on obviously, you got think for processing export could and really sense at from what with obviously big you question think more a the this Obviously, plants but areas expansion in if that Curious about First are you few the us as of now, times But you uncommitted give demanding spot potential there. kind plenty is focus customers and you've rest some export to more? system, where system

A. Teague

[ keep coming ] might is looking were Jim, something be deal, we told this one this Dan me, And and at at time, Jim. the I he remember, last us. said, they

system. a coming come, be And I how mean to expanding our don't ethylene good the see propylene petrochemical I forecasted have day Bcf I doing And we'll are is gas years going more we'll a at based think out primary of our rich of export be good meaning that. system, future. on believe we job of and we system than think past. in to We we I think in us in a the Permian our couple that pretty do X I product in enough surprised the the what have capability

on that train. So export we're

Spiro Dounis

my kind if does curious Tony happens us here a seen that bit to But crude off over question about about in how just producers the tie second or you've seen here, next. of the again, you any come think Obviously, thinking turned change a has one guess what I little on for bit, for curious and maybe behavior. but just kind highs. gas of outlook

maybe term? how medium So yet? are Just next in acting seeing differently the producers you're curious

Tony Chovanec

Yes. Sure. in there in significant guess, other money frankly, prepared a every for all, to remarks, first see more This we changes of the is day. In producers I they profitable price Tony. don't Jim continue get are. And they how of oil the to because of mentioned producers. of his tables lot is and words, on profitable produce

add trend of Navitas' certainly a to while rich above, doesn't frankly, is of barrels that in Waha, them continues rich at gas technical that that the people incremental What and the people, and that none exceeding them and those spend producers. table. Jim in keep mentioned putting producers time meetings I'd to over we like on have with both gas prices forecast. with discussing definitely We're very lot the his So of weak team, with commercial can remarks we expectations. our type curves producers' ours in from like

above by our of boil benches whatever to and especially want in increases directionally all always Natalie the well, a now about But directionally mentioned me incremental call what at I look but but we're gas the here, you these for and boils by of number, as correct. technical in think big Plus X lacking. rich predicting no in our that we'd we that it and that's when that GOR there's you you them, not analyst a driven we is think much forecast. When really the gets to down of to to I planned basin X think would a big be commercial in Jim, as reminds the to to we're seeing, fees. it's forecast to XXXX that cash, fact forecast, again, our being at some it meeting, producing think you is, a drilled that to our that think number in without Bcf the that Delaware talking -- some I it meetings, that's approximately you richer and I I pretty Basin. producers, of it the you we be about methods, down, pretty I quick. consider talk when evolve. And number say continue this, correct had liquid-rich multi-bench over be think, want rich XX correct, completion reasons gas

to So reality with. we're anything? what Natalie, you want agree? the add else dealing of Anybody that's

Natalie Gayden

thing efficient becomes only are ethane The about is a gas you basin that plants I'd incremental than NGL rich of growth Yes. before, add more extracting number the and quick think when much also. in it very that capable higher

thing that is has to to said basin price the the think NGL So one upside people surprised out the production I is of it. do

So the Permian there much of plants of past. the now plant the the than in capability portfolio just greater and processing is

Operator

Stanley of Our from the next of line Keith Research. question Wolfe comes

Keith Stanley

Following accommodate the a LPG a seeing you're instead this Phase at River can be update propane? sign at on mix for and up River ethane you how both export point more the And you much project is phases? all propane X Houston give do that Houston Neches on capacity of to perhaps then of the Is And so an project ethane have demand just the project. this the on Neches to side. to contracted of

Tug Hanley

This Tug. Sure. is

the It Neches maintain to will of right. flexibility So exactly do facility the River LPG. you're

long-term. between to call book out as service VLEC will ethane in and, the that be it, However, facility continues 'XX, into now order get delivered

now, have with debottlenecking around that we we it. there the capital right it for capacity proceed capacity contracted. As market discussions far if will to good fairly tell efficient that additional projects in have the get can additional execute XXX% as that. we asks level contract we We're on I we'll that facility, is if and you evaluate

the it second yes, So see ethane I being question? long-term. What's could

Keith Stanley

technical to a Or the -- but butane? any seen? the spreads to isobutane that of for we've kind from really ability to wide And is one, focus benefit just company butane still the second question, MTBE any just

A. Teague

that from benefit We spread.

Keith Stanley

From isobutane to butane?

A. Teague

Yes.

Operator

Our from Sachs. of the next Goldman line Mackay question John of comes

John Mackay

I expectations be want kind curious demand from to, hear right your I I perspective, maybe on guess at question China. to now. it of think, decently to trending seeing, Michael's least, We're just oil go was back I'd below where demand overall of high is up? contracting kind global could maybe trending explications your forecast, outlook acknowledging that be how your picture versus pick on maybe could And the to start just to demand sensitive that your when levels?

Tug Hanley

I'll to Tug, U.S. around it Enterprise, I'll -- as China far to is XX%, this around pass exports over Enterprise's XX%. Tony. as is But is the

So we're that China. does a little U.S. I add bit product go all the lower average. to than It's indirect. will our

exposure any have So the But Tony, we are then on side. LPG quarter-over-quarter. se up don't I'llâ€¦ And seeing we ramp it direct contract per

Tony Chovanec

Yes.

They for and and If the China, liquids X in Tug we've the of last of olefins China point, nothing going been to this the market build-out referencing the PDHs is years, talk you at about we watching Asia the relative demand all other eye-popping. activity. it's to especially barrels PDH dominate that's -- in know short

the it's really important in So equation.

year-on-year. oil If wrong million with from with view, growth demand That's day a be economies. China Probably X.X not oil X.X a you're to especially there's demand million bad to track number, barrels would globally. tell on demand, also barrels somewhere between I nothing our somewhat you weak and referring to

you that the about we're will tell the forecasters other that's So on. same I think trajectory

A. Teague

has think a can places benefits fuel India from undersell and LPG the is Jim. that's transition don't that coal. demand seeing with go we doesn't like is Africa what lot and as wood it And away. we're And this I a and stickier

Tony Chovanec

Total want have they It's been moving of Africa. for internet in commercial for In a LPG specifically that recent search that commercial. who running on those regard, to you the Energy's pretty

John Mackay

discussions obviously I incremental I commercialization Are one looking November, might sales those up to more. mind. push are for either around tariffs coming on NGL front of in maybe of ahead or kind spot? mean, just your

Tug Hanley

the -- I'm question sorry? again, What say

A. Teague

tariffs. export Tariffs,

John Mackay

tariffs risk of that's talking incremental impact we're if year, if the guess, any starting I on about got commercialization. next

Tug Hanley

gets brought truth. I'll tell up the It you occasionally, but

that once If you ago, questions times they a X did. in and near were question over been quite me when those often. to to is the days conversations or it Trump later ago, the years happen up office, was Asia at -- especially brought ask X of this We've couple was frequency years of year. X Those don't that

A. Teague

to What LNG some you is does on going after U.S., underpinned of happen getting the be cause the that? aren't

Tug Hanley

Yes, I I question this are if and mean, people to of what of the think going terms we're country. expand capabilities in to real continue export projects

on So tariff again the I at But depend I'll have, just think, expand in think terms can they if that. especially place in the U.S. But continue makes incumbent I that some side, the I they people contracts over obviously, have benefit. that think, trying that assets, pause in anything to expand of to Asia, grow and on the

that tariff believe has and U.S. product the just to if On on incur. geography they fundamentally price that then ultimately, the pure overcome export, has we to that tariff price think side, to based I have transit the the U.S. the

-- So happens price. what of U.S. the U.S. the of to mean probably more that's a what reflection I

Operator

comes the of Neal next from Dingmann Truist. line Our question of

Neal Dingmann

slide. question, project My kind earlier that always appreciate first you I'm just wondering just -- my mentioned capital of attention. I something got

Just spend? wondered, FID that if need in before CapEx wondering until future be say to to you an have another volumes be of or won't or, way, contracted is largely contracted you CapEx spend say to or it needs that contracted fair percent maybe it's amount

A. Teague

project. depends on of kind It the

of we on had a annuity. take the probably turned because want to If into on see lot the PDH, we we truth a to and you of less an contracted upside we know every make wanted If sure contract asset. upside, needs we'll that see bit of

on it So asset. really the depends

have not contracted to example, what what it. you we have in we it build to to spot, going on For is, order tell I'm know

Neal Dingmann

from one remaining quite Quarter-to-date, I just Waha to $X.XX continue margin strong. third quarter of and the anything X/X still prices think look quite And just the books, in to volatile, follow-up. I'm marketing we're $X. now And with the negative about wondering

Just margins? any that give would you update marketing on

Brent Secrest

This is Brent.

still from perspective, Enterprise's our the number is same. So

exposure. a lot But We for this have of $XXX a amount Waha. originate still have hedged million a year. exposure of we We've balance and large, about from by small of day gas all markets that the to

Operator

question of the UBS. line next of Gupta Our from Manav comes

Manav Gupta

This we question were happen this XXXX? that CapEx little And that not talk first could in is, confidence creep of is My bit the Manav this? happened from Do What this drivers can you about UBS. repeat will the XXXX? in have in a XXXX?

W. Fowler

see say creep the didn't we market I we gave did in you modify why XXXX. upper really think we range. come in range. We CapEx the -- gave and an would That's

So the And of still $X.XX feel where range part good is range upper a change, of XXXX, of billion. but to currently, the still sit million still lower $X.XX we about -- the we're billion. the range part we $X.XX

Manav Gupta

terms August. in in X, And of it up PDH you get

think we So fourth more like runs rates get Or it's it quarter? should the at by of in full rate you assume do the September? full you like to

A. Teague

at to should rates. rates full full in at looking run We I'm at I'm expecting and be Graham, September.

Operator

closing further remarks. back the turn Libby no in would I for to there Madam? As queue, Strait conference questions are to now like

Libby Strait

our joining Thank today. you us participants concludes good day. a to our That remarks. for Have

Operator

conference today's Thank concludes your you participation. for This call.

may now disconnect. You

Enterprise Products Partners (EPD) 30 Jul 242024 Q2 Earnings call transcript