Summary
Energy Transfer LP (ET) reported solid financial results for the first quarter of 2019, demonstrating growth across several key segments. Total revenues increased to $13.12 billion, up from $11.88 billion in the prior year's first quarter, driven by strong performance in its Crude Oil Transportation and Services, NGL and Refined Products Transportation and Services, and Interstate Transportation and Storage segments. Net income attributable to partners significantly rose to $870 million, compared to $363 million in Q1 2018. The company also highlighted a substantial increase in Segment Adjusted EBITDA to $2.797 billion, a notable jump from $2.002 billion in the prior year's comparable period, underscoring operational efficiency and revenue growth. Financially, ET managed its debt effectively through strategic note exchanges and offerings, including a significant ET-ETO senior notes exchange and ETO senior notes offerings totaling billions. The company's liquidity remains robust, with substantial availability under its credit facilities. ET continues to focus on growth capital expenditures across its various segments, particularly in NGL and Refined Products transportation and Crude Oil transportation, signaling confidence in future operational expansion and profitability.
Financial Highlights
42 data points| Revenue | $13.12B |
| Cost of Revenue | $41.60B |
| Gross Profit | -$28.48B |
| SG&A Expenses | $147.00M |
| Operating Expenses | $11.26B |
| Operating Income | $1.93B |
| Interest Expense | $590.00M |
| Net Income | $808.00M |
Key Highlights
- 1Total revenues increased to $13.12 billion in Q1 2019, up from $11.88 billion in Q1 2018.
- 2Net income attributable to partners surged to $870 million in Q1 2019, from $363 million in Q1 2018.
- 3Segment Adjusted EBITDA grew significantly to $2.797 billion in Q1 2019, up from $2.002 billion in Q1 2018, indicating strong operational performance.
- 4Crude Oil Transportation and Services segment saw substantial Adjusted EBITDA growth, reaching $806 million, up from $464 million.
- 5NGL and Refined Products Transportation and Services segment also showed strong growth, with Adjusted EBITDA of $612 million, up from $451 million.
- 6ET actively managed its debt by completing a significant ET-ETO senior notes exchange and several senior notes offerings totaling billions.
- 7The company maintains strong liquidity with substantial availability under its credit facilities and manages its capital expenditures with a focus on growth initiatives.