Energy Transfer's earnings call highlighted strong financial performance and growth in key segments, particularly in the Midstream and Crude Oil operations, supported by strategic acquisitions and joint ventures. Despite a decline in some segments, the company remains optimistic about future growth opportunities and infrastructure expansions.

Company Guidance

During the Energy Transfer's Third Quarter 2024 earnings call, the company announced an adjusted EBITDA of $3.96 billion, a significant increase from $3.54 billion in the same quarter of 2023. The distributable cash flow (DCF) attributable to partners remained consistent at $1.99 billion compared to the previous year. Energy Transfer is progressing on its capital projects, with 2024 growth capital expenditures expected to be around $2.9 billion, mainly in the NGL, Refined Products, and Midstream segments. The company is also focusing on expanding its natural gas infrastructure to support rising demand from AI and data centers, with potential gas loads up to 16 Bcf per day. Additionally, Energy Transfer expects its 2024 adjusted EBITDA to range between $15.3 billion and $15.5 billion, highlighting their strong financial position and diverse asset portfolio.

Record Volumes and EBITDA Growth

Energy Transfer reported a significant increase in adjusted EBITDA for Q3 2024 at $3.96 billion compared to $3.54 billion in Q3 2023, with record volumes through crude oil midstream gathering and NGL pipelines.

Strong Performance in Midstream Segment

The Midstream segment saw a notable increase in adjusted EBITDA to $816 million from $631 million in Q3 2023, driven by higher volumes in the Permian Basin and Eagle Ford, and the addition of Crestwood and WTG assets.

Permian Basin Expansion

The acquisition of WTG assets and the formation of a joint venture with Sunoco LP are enhancing operations in the Permian Basin, driving additional value and expanding market offerings.

Growth in Crude Oil Segment

The Crude Oil segment's adjusted EBITDA increased to $768 million from $706 million in Q3 2023, supported by a 49% rise in crude oil exports and a new Permian joint venture.

Expansion Projects on Track

Energy Transfer's various projects, including NGL export capacity expansions and new fractionators, are progressing on schedule, with significant capacity increases expected in the coming years.

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Energy Transfer (ET) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ET Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 12, 2025	2024 (Q4)	0.37 / -	0.37	―	―	―
Nov 06, 2024	2024 (Q3)	0.33 / 0.32	0.15	113.33% (+0.17)
Aug 07, 2024	2024 (Q2)	0.35 / 0.35	0.25	40.00% (+0.10)
May 08, 2024	2024 (Q1)	0.37 / 0.32	0.32	0.00% (0.00)
Feb 14, 2024	2023 (Q4)	0.34 / 0.37	0.34	8.82% (+0.03)
Nov 01, 2023	2023 (Q3)	0.34 / 0.15	0.29	-48.28% (-0.14)
Aug 02, 2023	2023 (Q2)	0.32 / 0.25	0.39	-35.90% (-0.14)
May 02, 2023	2023 (Q1)	0.37 / 0.32	0.37	-13.51% (-0.05)
Feb 15, 2023	2022 (Q4)	0.39 / 0.34	0.29	17.24% (+0.05)
Nov 01, 2022	2022 (Q3)	0.38 / 0.29	0.2	45.00% (+0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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ET Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	$17.10	$17.09	-0.06%
Aug 07, 2024	$15.03	$15.63	+3.99%
May 08, 2024	$15.33	$15.31	-0.13%
Feb 14, 2024	$13.31	$13.60	+2.18%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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