Energy Transfer LP Common Units
ET · NYSE
Next quarter
Reports Nov 4, 2026.
Consensus is $0.41 EPS for Sep 2026 across 7 estimates, ranging $0.35 to $0.47.
ET Jun 2026
- 51.28%
- +0.05%
- $0.39
- $0.59
- —
- $34.33B
Reported results
- $34.33B
- 21.55%
- $3.57B
- 10.41%
- $2.09B
Highlights
- Second-quarter revenue was $34,334 million, versus $19,242 million in the year-earlier quarter; management did not state a percentage growth rate.
- Refined product sales were $13,842 million, crude sales were $10,303 million, NGL sales were $5,739 million, and gathering, transportation and other fees were $3,291 million.
- Natural gas sales declined to $400 million from $1,058 million, while other revenue increased to $759 million from $405 million.
- Operating income was $3,574 million versus $2,309 million, and net income attributable to common unitholders was $2,027 million, or $0.59 per diluted common unit, versus $1,091 million, or $0.32.
- No reportable-segment results, capex figure, or forward guidance range was provided in the supplied material.
Analysis
No consensus figures are on file, so the quarter cannot be assessed against expectations. Revenue reached $34,334 million, up from $19,242 million in the year-earlier quarter and above $27,770 million in the prior quarter. The largest reported revenue categories were refined product sales at $13,842 million, crude sales at $10,303 million, NGL sales at $5,739 million, and gathering, transportation and other fees at $3,291 million. Natural gas sales were a clear drag, falling to $400 million from $1,058 million, partly offset by higher refined product, crude, NGL, fee and other revenue. Operating income increased to $3,574 million from $2,309 million, although operating expenses, depreciation and selling, general and administrative expense all rose. Net income attributable to common unitholders increased to $2,027 million from $1,091 million, while net income was $2,530 million versus $1,458 million.
Guidance
The supplied material contains no management guidance for the next quarter, full year, revenue, earnings, margins, capital spending, volumes, or distributions. Consequently, there is no stated range to compare with a prior guide and no disclosed assumptions or caveats for upcoming periods. The filing does provide six-month results: revenue was $62,105 million, operating income was $6,557 million, net income was $4,506 million, and common unitholders’ interest in net income was $3,221 million. These historical figures do not constitute forward guidance, and the material does not identify expected segment performance or planned capex.
What drove it
- Refined Products — Refined product sales were $13,842 million, compared with $5,175 million in the year-earlier quarter.
- Crude Sales — Crude sales were $10,303 million, compared with $5,024 million in the year-earlier quarter.
- NGL Sales — NGL sales were $5,739 million, compared with $4,500 million in the year-earlier quarter.
- Fee Revenue — Gathering, transportation and other fees increased to $3,291 million from $3,080 million.
- Common Earnings — Common unitholders’ interest in net income was $2,027 million, or $0.59 per diluted common unit.
Watch items
- Natural gas sales fell to $400 million from $1,058 million in the year-earlier quarter.
- Interest expense increased to $934 million from $865 million, while long-term debt was $68,393 million at June 30, 2026.
- Operating expenses increased to $1,828 million from $1,343 million, and selling, general and administrative expense increased to $421 million from $257 million.
- The supplied material provides no forward guidance, reportable-segment results, or capex figure, limiting visibility into upcoming performance and spending.
