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Energy Transfer (ET) investor relations material
Energy Transfer Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Operational performance
NGL and refined products terminal volumes rose 19%, setting new records, with similar growth in NGL exports, transportation, and fractionation volumes; crude oil transportation volumes increased 8%.
Placed Gateway NGL Pipeline debottlenecking project into service and are commissioning the Mustang Draw I processing plant.
Currently constructing a new 3 million barrel ethane storage cavern at Mont Belvieu.
Expanded midstream gathered volumes by 6%, also a record.
Financial highlights
Q1 2026 Adjusted EBITDA reached $4.94B; distributable cash flow attributable to partners was $2.70B.
Updated 2026 guidance: Adjusted EBITDA of $18.2B–$18.6B, up from prior guidance; expected growth capital $5.5B–$5.9B.
Increased quarterly cash distribution to $0.3375 per unit, up over 3% from Q1 2025.
Strategic initiatives and project backlog
Approved construction of the Springerville Lateral Project to supply natural gas to new gas-powered generation replacing coal plants.
Entered long-term agreements to provide firm natural gas transportation for data centers, including the Nexus Hubbard Campus in Texas.
Approved Bayou Bridge pipeline expansion, adding up to 200,000 Bbls/d of capacity.
Extended major ethane export agreements at Nederland into 2041.
- Q1 2026 Adjusted EBITDA rose 20% to $4.94B, with record revenue and raised 2026 guidance.ET
Q1 202612 May 2026 - Record 2025 EBITDA and cash flow, with raised 2026 guidance and major expansion projects.ET
Q4 202511 Apr 2026 - Major pipeline expansions and strong demand drive growth and financial strength into 2026.ET
Investor presentation2 Mar 2026 - Q2 net income up 62% and Adjusted EBITDA up 21%, with guidance raised on acquisitions.ET
Q2 20242 Feb 2026 - Q3 Adjusted EBITDA up 12% to $3.96B, with net income and volumes surging on acquisitions.ET
Q3 202416 Jan 2026 - Record 2024 results and strong 2025 outlook driven by major projects and volume growth.ET
Q4 20248 Jan 2026 - Shelf registration allows public resale of 50M+ units issued for a strategic acquisition.ET
Registration Filing16 Dec 2025 - Registers 50.8M units for resale post-acquisition; no proceeds to partnership, only to unitholders.ET
Registration Filing16 Dec 2025 - Q1 2025 adjusted EBITDA up 6% to $4.10B; major acquisitions and growth projects advance.ET
Q1 202526 Nov 2025
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