| Item 7.01. |
Regulation FD Disclosure. |
On June 6, 2022, Enterprise Products Partners L.P., a Delaware limited partnership (“Enterprise” or the “Partnership”), announced the launch of a new company-wide initiative known as “Project 9” with the stated goal of surpassing $9.0 billion of adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) for the Partnership’s fiscal year ending December 31, 2022. The objective of Project 9 is to inspire the Partnership’s workforce to focus its energies on the principles of financial discipline, innovation, strong customer relationships, attention to detail and teamwork that have allowed Enterprise to achieve resilient financial success over the years. Some of the efforts being undertaken to reach the goal established by Project 9 include servicing and handling anticipated customer production growth, finding new commercial business opportunities, improving efficiencies, generating near-term revenue and reducing unnecessary costs, all while maintaining the Partnership’s commitment to safe operations. Project 9, as a goal, does not represent guidance by the Partnership or its management with respect to 2022 actual results of operations by the Partnership.
Cautionary Statement Regarding Forward-Looking Information
This report contains various forward-looking statements and information that are based on Enterprise management’s beliefs and those of Enterprise’s general partner, as well as assumptions made by, and information currently available to, the Partnership and its general partner. When used in this document, words such as “anticipate,” “project,” “expect,” “plan,” “seek,” “goal,” “objective,” “target,” “estimate,” “forecast,” “intend,” “could,” “should,” “would,” “will,” “believe,” “may,” “scheduled,” “pending,” “potential” and similar expressions and statements regarding the Partnership’s initiatives, plans and objectives for future operations are intended to identify forward-looking statements. Although the Partnership and its general partner believe that the goals and expectations reflected in such forward-looking statements are reasonable, neither Enterprise nor its general partner can give any assurances that such goals will be achieved or that such expectations will prove to be correct.
Forward-looking statements are subject to a variety of risks, uncertainties and assumptions as described in more detail under Part I, Item 1A of the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2021 and within Part II, Item 1A of the Partnership’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Partnership’s actual results may vary materially from those anticipated, estimated, projected or expected. You should not put undue reliance on any forward-looking statements. The forward-looking statements in this report speak only as of the date hereof. Except as required by federal and state securities laws, Enterprise undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or any other reason.
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