NYSE$ET
Energy Transfer LP · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Energy Transfer LP reported strong second quarter 2026 results with record volumes and raised full-year guidance.
Energy Transfer LP posted net income attributable to partners of $2.09 billion and basic EPS of $0.59 for the quarter ended June 30, 2026. Adjusted EBITDA rose 31% to $5.07 billion while Distributable Cash Flow attributable to partners increased 32% to $2.59 billion. The Partnership raised its 2026 Adjusted EBITDA guidance to $18.8-$19.1 billion and reported multiple record-setting volume metrics across NGL, crude, and midstream operations.
- Net income attributable to partners reached $2.09 billion, up from $1.16 billion in Q2 2025.
- Adjusted EBITDA increased 31% year-over-year to $5.07 billion on robust volume growth and acquisitions.
- NGL transportation volumes hit a record 2,641 MBbls/d, up 13%, with NGL exports up 25%.
- Full-year 2026 Adjusted EBITDA guidance raised to $18.8-$19.1 billion; growth capex expected at $5.6-$5.9 billion.
Headline financials
Revenue & EPS history
Energy Transfer · Revenue · Quarterly
$34.3B
Revenue by segment
Energy Transfer · $38B total across 8 segments · Q2 2026
- Investment in Sunoco LP$14.3B—37.6%
- Crude Oil Transportation$11.1B—29.1%
- NGL & Refined Products$7.72B—20.3%
- Midstream$2.82B—7.4%
- Interstate Transportation & Storage$609M—1.6%
- Intrastate Transportation & Storage$596M—1.6%
- All Other$565M—1.5%
- Investment in USAC$342M—0.9%
Forward guidance
The Partnership raised 2026 Adjusted EBITDA guidance and provided growth capital expenditure outlook.
Tailwinds
- Raised 2026 Adjusted EBITDA guidance to $18.8-$19.1 billion from prior $18.2-$18.6 billion range.
- Multiple visible growth drivers in natural gas infrastructure and NGL exports.
- Hugh Brinson Pipeline now in service with additional laterals completed.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+0.4%
Avg return
Earnings day
-0.8%
Avg return
5 days after
-0.4%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+16.5%
Q3 2016
Best reaction
-6.7%
Q1 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -1.5% | -3.7% | -4.8% | |
| Q4 2025 | -0.7% | +1.2% | +1.1% | |
| Q3 2025 | -0.4% | -1.2% | -0.7% | |
| Q2 2025 | -1.3% | -2.6% | -2.6% | |
| Q1 2025 | +6.8% | +10.3% | +13.4% | |
| Q4 2024 | -0.8% | +0.9% | -5.5% | |
| Q3 2024 | +3.0% | +2.0% | +14.0% | |
| Q2 2024 | +1.6% | -2.8% | -0.6% | |
| Q1 2024 | +0.6% | -1.9% | -4.0% | |
| Q4 2023 | +3.3% | +4.2% | +9.9% | |
| Q3 2023 | +3.7% | +2.7% | +5.6% | |
| Q2 2023 | -3.3% | -2.6% | +2.6% | |
| Q1 2023 | -1.9% | -4.3% | -2.4% | |
| Q4 2022 | -0.3% | -1.7% | -8.4% | |
| Q3 2022 | -3.2% | -3.7% | -2.6% | |
| Q2 2022 | -1.4% | -3.4% | +4.3% | |
| Q1 2022 | +1.2% | -7.8% | +0.9% | |
| Q4 2021 | +0.5% | -1.2% | -3.7% | |
| Q3 2021 | -6.1% | -4.9% | -16.3% | |
| Q2 2021 | -4.4% | -4.4% | -0.3% | |
| Q1 2021 | +9.9% | +6.5% | +20.4% | |
| Q4 2020 | -2.6% | +7.3% | +14.7% | |
| Q3 2020 | -2.5% | +1.8% | +26.0% | |
| Q2 2020 | -4.1% | -5.8% | -9.6% | |
| Q1 2020 | -1.7% | -5.8% | +14.8% | |
| Q4 2019 | -1.3% | -9.1% | -58.7% | |
| Q3 2019 | -4.3% | -5.5% | -9.2% | |
| Q2 2019 | +3.5% | -1.3% | -1.3% | |
| Q1 2019 | -1.5% | -2.2% | -6.9% | |
| Q4 2018 | -0.5% | -1.6% | -1.5% | |
| Q3 2018 | +1.0% | -3.1% | -10.4% | |
| Q2 2018 | -1.8% | -4.7% | -5.9% | |
| Q1 2018 | -1.7% | -0.4% | +5.6% | |
| Q4 2017 | +1.0% | -1.0% | -13.7% | |
| Q3 2017 | -1.5% | -3.3% | -10.0% | |
| Q2 2017 | +2.1% | -1.8% | +3.1% | |
| Q1 2017 | -6.7% | -3.6% | -6.9% | |
| Q4 2016 | -0.4% | -0.5% | -0.8% | |
| Q3 2016 | +16.5% | +20.2% | +22.7% | |
| Q2 2016 | +0.9% | +5.7% | +12.3% | |
| Q1 2016 | +8.6% | — | — | |
| Q4 2015 | +2.7% | — | — | |
| Q3 2015 | -6.1% | — | — | |
| Q2 2015 | -4.8% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | +0.8% | — | — | |
| Q3 2014 | +3.5% | — | — | |
| Q2 2014 | +2.5% | — | — | |
| Q1 2014 | +5.7% | — | — | |
| Q4 2013 | -2.3% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q2 2013 | +1.9% | — | — | |
| Q1 2013 | +2.7% | — | — | |
| Q4 2012 | +4.5% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | +2.9% | — | — | |
| Q2 2011 | +1.7% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q3 2010 | -0.2% | — | — | |
| Q2 2010 | -4.6% | — | — | |
| Q1 2010 | +2.6% | — | — |
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