EPD Q4 Results: Strong Earnings, Distribution Growth, and Buyback Plans

Enterprise Products Partners (EPD) delivered a strong Q4 2025 performance, driven by new assets and record adjusted EBITDA of $2.7 billion. Total pipeline transportation volumes reached an all-time high, and management anticipates 2026 EBITDA growth at the lower end of its 3% to 5% target range. EPD declared a quarterly distribution of $0.55 per unit, marking its 27th consecutive year of distribution growth. The company also maintained an opportunistic buyback strategy, allocating $300 million to unit repurchases in 2025 and planning to allocate 50% to 60% of discretionary free cash flow to buybacks in 2026.