Energy Transfer Reports Second Quarter 2026 Results and Updates 2026 Financial Guidance

DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE:ET) (“Energy Transfer” or the “Partnership”) today reported financial results for the quarter ended June 30, 2026. Energy Transfer reported net income attributable to partners for the three months ended June 30, 2026 of $2.09 billion compared to $1.16 billion for the three months ended June 30, 2025. For the three months ended June 30, 2026, net income per common unit (basic) was $0.59. Adjusted EBITDA for the three months ended June 30, 2026 was $5.07 billion compared to $3.87 billion for the three months ended June 30, 2025, an increase of 31%. Distributable Cash Flow attributable to partners, as adjusted, for the three months ended June 30, 2026 was $2.59 billion compared to $1.96 billion for the three months ended June 30, 2025, an increase of 32%. The Partnership now expects its Adjusted EBITDA guidance for the full year of 2026 to range between $18.8 billion and $19.1 billion, compared to the previous range of between $18.2 billion and $18.6 billion. The Partnership expects to invest $5.6 billion to $5.9 billion in growth capital for 2026. Growth capital expenditures in the second quarter of 2026 were $1.10 billion; maintenance capital expenditures were $307 million. Operational Highlights Energy Transfer’s volumes continued to grow during the second quarter of 2026 compared to the second quarter of 2025. NGL transportation volumes were up 13%, setting a new Partnership record. NGL exports were up 25%, setting a new Partnership record. NGL fractionation volumes were up 3%. Crude oil transportation volumes were up 4%, setting a new Partnership record. Midstream gathered volumes were up 4%, setting a new Partnership record. Strategic Highlights Energy Transfer is well positioned to benefit from multiple visible growth drivers across the business. Increasing demand for natural gas infrastructure expansion to support the growing needs for power generation and LNG exports: The Hugh Brinson Pipeline is now in commercial service and is expected to be capable of flowing the full Phase I capacity of 1.5 Bcf/d by September 1, 2026. During the second quarter of 2026, Energy Transfer completed another 14-mile lateral off the Hugh Brinson Pipeline in Abilene, Texas, and it is now ready for service. During the second quarter of 2026, Energy Transfer continued the development of its Desert Southwest expansion project and FERC recently completed scoping meetings in communities along the route. In May 2026, Energy Transfer announced the Springerville Lateral on Transwestern Pipeline to support the conversion of two coal-fired plants to natural gas. Energy Transfer recently had two customers add a combined 100 MMcf/d to their existing contracts for natural gas services to their power plant or data center sites in Texas. Energy Transfer expects to announce additional natural gas pipeline projects later this year to fuel growing power demand. Growing demand for Natural Gas Liquids (NGLs) exports: In June 2026, Energy Transfer announced a fully subscribed export expansion at Nederland facility. The project will increase ethane export capacity at the terminal by 240,000 barrels per day (bpd) along with 55,000 bpd of additional LPG capacity. As part of the expansion, Energy Transfer will also expand its Mont Belvieu to Nederland NGL export pipeline capacity to service the increased refrigeration capacity and will construct two additional NGL ship docks. In the second quarter of 2026, Energy Transfer completed upgrades to its Lone Star Express pipeline, which provides more than 90,000 Bbls/d of incremental Permian NGL takeaway capacity on the pipeline system. In the second quarter of 2026, Energy Transfer signed long-term transportation and/or fractionation agreements for approximately 300,000 Bbls/d on its y-grade assets that extend into the 2030s. In June 2026, Energy Transfer placed the 275 MMcf/d Mustang Draw I processing plant into service in the Midland Basin. In June and July 2026, Energy Transfer placed its third and fourth of eight planned 10-megawatt natural-gas fired electric generation facilities into service in West Texas to support the Partnership’s operations. Financial Highlights In July 2026, Energy Transfer announced a quarterly cash distribution of $0.3400 per common unit ($1.36 annualized) for the quarter ended June 30, 2026, which is an increase of more than 3% compared to the second quarter of 2025. This is the Partnership’s nineteenth consecutive increase to its quarterly cash distribution. In July 2026, the Partnership issued $650 million aggregate principal amount of its Series 2026A junior subordinated notes due 2057 (the “Series 2026A notes”) and $1.10 billion aggregate principal amount of its Series 2026B junior subordinated notes due 2057 (the “Series 2026B notes”). Initially, the Series 2026A notes will bear interest at an annual rate of 6.550% and the Series 2026B notes will bear interest at an annual rate of 6.700%. As of June 30, 2026, the Partnership’s revolving credit facility had an aggregate $3.76 billion of available borrowing capacity. Energy Transfer benefits from a portfolio of assets with exceptional product and geographic diversity. The Partnership’s multiple segments generate high-quality, balanced earnings with no single business segment contributing more than one-third of the Partnership’s consolidated Adjusted EBITDA for the three months ended June 30, 2026. Conference call information: The Partnership has scheduled a conference call for 8:00 a.m. Central Time/9:00 a.m. Eastern Time on Tuesday, August 4, 2026 to discuss its second quarter 2026 results and provide an update on the Partnership. The conference call will be broadcast live via an internet webcast, which can be accessed through www.energytransfer.com and will also be available for replay on the Partnership’s website for a limited time. Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with approximately 140,000 miles of pipeline and associated energy infrastructure. Energy Transfer’s strategic network spans 44 states with assets in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (“NGL”) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns the general partner interests, the incentive distribution rights and approximately 28 million common units (representing 15% of the aggregate outstanding common units and Class D units) of Sunoco LP (NYSE: SUN), the managing member interests in SunocoCorp LLC (NYSE: SUNC), and the general partner interests and approximately 46 million common units (representing 32% of the outstanding common units) of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com. Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating across 33 countries and territories in North America, the Greater Caribbean, and Europe. SUN's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 170 terminals. This critical infrastructure complements SUN's fuel distribution operations, which distribute over 15 billion gallons annually to approximately 11,000 Sunoco and partner-branded retail locations, as well as independent dealers and commercial customers. SUN's general partner is owned by Energy Transfer LP. For more information, visit the Sunoco LP website at www.sunocolp.com. SunocoCorp LLC (NYSE: SUNC) is a publicly traded limited liability company that owns a direct limited partner interest in Sunoco LP. For more information, visit the Sunoco LP website at www.sunocolp.com. USA Compression Partners, LP (NYSE: USAC) is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USAC partners with a broad customer base composed of producers, processors, gatherers, and transporters of natural gas and crude oil. USAC focuses on providing midstream natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities, and transportation applications. For more information, visit the USAC website at www.usacompression.com. Forward-Looking StatementsRead the full story here

Energy Transfer Reports Second Quarter 2026 Results and Updates 2026 Financial Guidance

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