Revenues for the third quarter of 2013 increased 16 percent to $12.1 billion from $10.5 billion in the same quarter of 2012 primarily attributable to higher NGL and crude oil sales volumes. Periodic changes in our revenues and operating costs and expenses are also explained in part by changes in energy commodity prices. Excluding the impact of changes in sales volumes between periods, higher energy commodity prices result in an increase in our revenues attributable to the sale of NGLs, natural gas, crude oil, petrochemicals and refined products; likewise, these higher commodity prices also can increase the associated cost of sales as purchase costs rise.Gross operating margin for the third quarter of 2013 was $1.2 billion compared to $1.1 billion for the third quarter of last year. Adjusted earnings before interest, taxes and depreciation (“Adjusted EBITDA”) was $1.1 billion for the third quarters of 2013 and 2012. Gross operating margin and Adjusted EBITDA are non-GAAP financial measures that are discussed and reconciled later in this press release.
Enterprise Reports Results For The Third Quarter Of 2013
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