Energy Transfer Reports Strong Third Quarter Growth and Raises Full-Year Guidance
Energy Transfer (ET) reported a significant third-quarter performance, highlighted by a 31% surge in adjusted EBITDA to $5 billion. The company's distributable cash flow also rose 33% to $2.5 billion, providing more than double the coverage required for its high-yielding distributions. Growth was driven by record natural gas transportation volumes via the Hugh Brinson Pipeline, increased NGL infrastructure activity, and substantial earnings contributions from Sunoco LP following the Parkland acquisition. Building on this momentum, Energy Transfer raised its full-year adjusted EBITDA guidance to a range of $19.7 billion to $19.9 billion, representing an $850 million increase at the midpoint. The company plans to invest approximately $7 billion in growth projects next year to capitalize on rising energy demand and infrastructure needs.
Topics: Energy Midstream Infrastructure Investment Natural Gas Transportation Quarterly Earnings