Quarterly ResultMay 5, 2026, 07:42 AM
Energy Transfer Q1 Adj. EBITDA $4.94B; Raises 2026 Guidance
AI Summary
Energy Transfer LP reported strong financial results for the first quarter ended March 31, 2026, with Adjusted EBITDA increasing 20% to $4.94 billion and Distributable Cash Flow attributable to partners rising to $2.70 billion. The Partnership also raised its full-year 2026 Adjusted EBITDA guidance to a range of $18.2 billion to $18.6 billion. Operational highlights included record volumes across several NGL and crude oil segments, alongside progress on key growth projects and an increased quarterly cash distribution.
Key Highlights
- Q1 2026 Adjusted EBITDA rose 20% to $4.94 billion from $4.10 billion YoY.
- Q1 2026 Distributable Cash Flow attributable to partners increased to $2.70 billion from $2.31 billion YoY.
- Updated 2026 Adjusted EBITDA guidance to $18.2 billion-$18.6 billion, up from $17.45 billion-$17.85 billion.
- Q1 2026 net income attributable to partners was $1.25 billion, down from $1.32 billion YoY.
- NGL and refined products terminal volumes, NGL exports, NGL fractionation, crude oil transportation, and midstream gathered volumes set new records.
- Approved Springerville Lateral Project ($600M growth capital) and Bayou Bridge pipeline expansion.
- Declared Q1 cash distribution of $0.3375 per common unit, an increase of over 3% YoY.
- Completed $3.00 billion senior notes offering in January 2026 for refinancing.