Published on 14 Feb 2024 on GuruFocus.com via Yahoo Finance
Energy Transfer LP Reports Increased Net Income and EBITDA in Q4 2023
Net Income: $1.33 billion for Q4 2023, up $172 million year-over-year.Adjusted EBITDA: Increased to $3.60 billion for Q4 2023, a $165 million rise from the previous year.Distributable Cash Flow: Rose to $2.03 billion in Q4 2023, compared to $1.91 billion in Q4 2022.Growth Capital Expenditures: $1.59 billion in 2023, with maintenance capital expenditures at $762 million.2024 Outlook: Adjusted EBITDA expected to be between $14.5 billion and $14.8 billion, representing a 7% increase from 2023.Operational Highlights: Record NGL fractionation and transportation volumes, along with increased interstate natural gas transportation volumes.Strategic Highlights: Merger with Crestwood Equity Partners LP and non-binding agreement with TotalEnergies for crude oil offtake.
Warning! GuruFocus has detected 5 Warning Signs with ET.
On February 14, 2024, Energy Transfer LP (NYSE:ET) released its 8-K filing, announcing its financial results for the fourth quarter and full year ended December 31, 2023. The company, which owns a vast network of energy assets across the United States, reported a net income attributable to partners of $1.33 billion for the quarter, marking an increase from the same period last year. This performance underscores the company's robust asset base and strategic growth initiatives.