Energy Transfer Equity 8-K

PositiveEarningsGuidance raised

Higher NGL export premiums and throughput, plus Sunoco acquisitions, drive growth as FY2026 Adjusted EBITDA guidance rises.

Filed 2026-08-04 07:43 ET

Summary

Q2 2026 results with higher FY2026 Adjusted EBITDA guidance. Energy Transfer raised its full-year Adjusted EBITDA range; quarterly earnings and operating measures increased year over year, supported by growth across several businesses and recent acquisitions.

Key Figures

Metric Q2 2026 Q2 2025 Y/Y
Revenue $34.3B $19.2B 78.5%
Operating income $3.57B $2.31B 54.7%
Net income attributable to partners $2.09B $1.16B 79.5%
Adjusted EBITDA (non-GAAP) $5.07B $3.87B 31%
Distributable Cash Flow attributable to partners, as adjusted (non-GAAP) $2.59B $1.96B 32%
Diluted EPS $0.59 $0.32 84.4%
  • Higher NGL export premiums and throughput, increased midstream volumes, and Sunoco acquisitions contributed to segment growth. NGL transportation volumes rose 13%, exports 25%, crude oil transportation 4%, and midstream gathered volumes 4%.
  • Q2 growth capital expenditures were $1.10B and maintenance capital expenditures were $307M.
  • The quarterly distribution was $0.3400 per common unit ($1.36 annualized), more than 3% above Q2 2025. In July, the partnership issued $1.75B aggregate principal amount of junior subordinated notes due 2057: $650M at 6.550% and $1.10B at 6.700%. Revolving credit facility availability was $3.76B at quarter-end.

Guidance

Metric Period Guidance Prior Direction
Adjusted EBITDA (non-GAAP) FY2026 $18.8B-$19.1B $18.2B-$18.6B Raised
Growth capital expenditures FY2026 $5.6B-$5.9B — —

Investor Takeaways

  • Watch for Hugh Brinson Pipeline Phase I to reach expected full capacity of 1.5 Bcf/d by 9/1/2026, and for the additional natural gas pipeline project announcements expected later this year.

The summary is written by an AI model reading the filing.

Model 005 · prompt 01d34d48e3

Feedback