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Oil earnings: What to expect when Enterprise Products Partners reports quarterly results

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Yahoo Finance Live looks ahead to what to expect in Enterprise Products Partners' earnings report coming out on Monday.

Video Transcript

- All right. Well, now it's time for one stock that we're all watching on Monday. Enterprise Products Partners ticker, symbol EPD, is set to report first quarter earnings before the bell. Wall Street consensus calls for revenue of 10.5 billion and $0.53 in adjusted earnings per share.

Enterprise Products Partners is the largest oil and gas midstream company in the country, with a market cap of nearly $58 billion. Take a look at how the shares are trading in the after hours market. We did see that they ended the day in negative territory, down 1.67%, but in after hours trading, just slightly ahead there. But just a fraction of a percentage, just 0.03 points there.

Now, we did see previously that they missed Q4 earnings estimates. But we did see that revenues were a strong beat, coming in at $11.4 billion in 2021. And that was boosted by its petrochemical services business, as well as its natural gas processing, and a record natural gas and crude oil pipeline volumes. Now, Co-CEO Jim Teague says that he expects that growth to continue, along with global economic growth in 2022.