Energy Transfer Equity ( (ET) ) has released its Q3 earnings. Here is a breakdown of the information Energy Transfer Equity presented to its investors.
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Energy Transfer LP is a publicly traded limited partnership that owns and operates one of the largest and most diversified energy asset portfolios in the United States, with operations spanning natural gas midstream, crude oil, and refined product transportation and storage. The company recently released its third quarter 2024 financial results, highlighting significant achievements and improvements in various segments of its business.
In the third quarter of 2024, Energy Transfer reported a net income attributable to partners of $1.18 billion, with a net income per common unit of $0.33. The company’s Adjusted EBITDA reached $3.96 billion, showcasing an increase from the previous year. With a distributable cash flow of $1.99 billion, the company demonstrated a stable financial performance, further supported by strategic capital expenditures in growth and maintenance.
Key highlights include record-setting volumes in crude oil transportation, exports, and NGL fractionation and transportation, largely driven by new organic growth projects and acquisitions. Notably, the crude oil transportation volumes increased by 25%, while exports surged by 49%. Strategic expansions, such as the Orla East processing plant and a new crude oil pipeline, have bolstered Energy Transfer’s capacity and operational efficiency.
Further strategic moves included the acquisition of WTG Midstream Holdings, significantly expanding the company’s gas gathering and processing capabilities. Additionally, a joint venture with Sunoco LP strengthened their position in the Permian Basin, enhancing crude oil and water gathering operations. Energy Transfer’s diverse portfolio and strategic partnerships position it to capitalize on growing natural gas demand across the U.S.
Looking ahead, Energy Transfer maintains a positive outlook, supported by its robust asset portfolio and strategic expansions. The company remains focused on leveraging its diverse operations to drive future growth, amid expectations of increasing energy demand and evolving market dynamics.
