Enterprise Products Partners L.P.(US:EPD)2024-07-30 13:46Financial Performance & Capital Allocation - The company's distribution increased to $0.525 per unit for 2Q 2024, a 5% increase over 2Q 2023[39] - Buybacks in 2Q 2024 totaled $40 million, representing 1.4 million common units; for the trailing 12 months ended June 30, 2024, buybacks were $176 million, representing 6.5 million common units[7] - Adjusted CFFO Payout Ratio was 55% for the trailing twelve months ended June 30, 2024[7] - Capital returned to equity investors via LP distributions and common unit buybacks since IPO amounts to $54.4 billion[39] Capital Expenditure & Projects - Sustaining Capital Expenditures are estimated to be approximately $600 million in 2024, including petrochemical turnarounds[7] - Major capital projects under construction total $6.7 billion, supporting future cash flow growth and capital returns to unitholders[9, 43] - Growth Capital Expenditures are projected to be approximately $3.5 billion to $3.75 billion in 2024[7] - Growth Capital Expenditures are projected to be approximately $3.25 billion to $3.75 billion in 2025[39] - Growth Capital Expenditures are projected to be approximately $2.0 billion to $2.5 billion in 2026[15] Liquidity & Leverage - Liquidity stands at $3.4 billion as of June 30, 2024, comprised of available credit capacity and unrestricted cash[15] - Leverage Ratio is 3.0x TTM 2Q 2024, with a target ratio of 3.0 (+/- 0.25x)[15]