Enterprise Products Partners L.P. Common Units (NYSE:EPD) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET
Company Participants
Libby Strait - Senior Director, IR
Jim Teague - Co-CEO
Randy Fowler - Co-CEO
Tug Hanley - SVP, Hydrocarbon Marketing
Graham Bacon - EVP and COO
Justin Kleiderer - SVP, Pipelines and Terminals
Anthony Chovanec - EVP, Fundamentals and Commodity Risk Assessment
Natalie Gayden - SVP, Natural Gas Assets
Brent Secrest - EVP and CCO
Robert Sanders - EVP, Asset Optimization
Christopher D'Anna - SVP, Petrochemicals
James Bany - SVP, Crude Oil Pipelines and Terminals
Conference Call Participants
Theresa Chen - Barclays
Jean Ann Salisbury - BofA Securities, Inc.
Spiro Dounis - Citi
Jeremy Tonet - JPMorgan
Michael Blum - Wells Fargo
Neal Dingmann - Truist
Keith Stanley - Wolfe Research
John McKay - Goldman Sachs
AJ O'Donnell - TPH&Co.
Manav Gupta - UBS
Operator
Thank you for standing by and welcome to Enterprise Products Partners L.P.'s Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]
I would now 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 Product Partners' conference call to discuss third quarter 2024 earnings. Our speakers today will be Co-Chief Executive Officers of Enterprise's General Partner, Jim Teague; and Randy Fowler. Other members of our senior management team are also in attendance for the call today.
During this call, we will make forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 based on the beliefs of the company as well as assumptions made by and information currently available to Enterprise's management team. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Please refer to our latest filings with the SEC for a list of factors that may cause actual results to differ materially from those in the forward-looking statements made during this call.
With that, I will turn it over to Jim.
Jim Teague
Thank you, Libby. We reported adjusted EBITDA of $2.4 billion for the third quarter compared to $2.3 billion for last year third quarter. We generated $2 billion of distributable cash flow, providing 1.7x coverage. In addition, we retained $808 million of DCP -- DCF. Our retained DCF totals $2.3 billion year-to-date.