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DALLAS - Energy Transfer LP (NYSE:ET) reported fourth quarter earnings that missed analyst estimates, as revenue declined more than expected. The company’s shares fell 1.9% in after-hours trading following the release.
The midstream energy company reported adjusted earnings per share of $0.29 for the fourth quarter, falling short of the $0.37 consensus estimate. Revenue came in at $19.54 billion, below analyst expectations of $21.68 billion.
For the full year 2024, Energy Transfer delivered record financial and operating results, with net income of $874 million and adjusted EBITDA of $1.56 billion, excluding one-time transaction-related expenses. The company’s fuel volume reached 8.6 billion gallons for the year.
Looking ahead, Energy Transfer provided guidance for 2025, projecting adjusted EBITDA to be in the range of $16.1 billion to $16.5 billion. The company expects growth capital expenditures of approximately $5.0 billion and maintenance capital expenditures of about $1.1 billion for 2025.
Energy Transfer also announced an increase to its quarterly distribution and is targeting a distribution growth rate of at least 5% for 2025.
"We delivered strong results in 2024 and are well-positioned for continued growth in 2025," said Scott Grischow, Treasurer and Senior Vice President of Finance at Energy Transfer. "Our diversified asset base and strategic acquisitions have strengthened our position in the midstream energy sector."
The company’s fourth quarter results were impacted by lower volumes in its fuel distribution segment, partially offset by contributions from recently acquired pipeline and terminal assets.
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