SHARPE
Reported results
- GAAP net income was $47.4 million, or $0.85 per diluted common limited partner unit, compared to $45.6 million, or $0.85 per diluted common limited partner unit, in the third quarter 2025
- Non-GAAP Adjusted EBITDA was $142.9 million compared to $142.5 million in the third quarter 2025
- Non-GAAP EBITDA was $118.5 million compared to $108.5 million in the third quarter 2025
- GAAP net cash provided by operating activities was $187.9 million compared to $54.9 million in the third quarter 2025
- Non-GAAP Distributable cash flow, as adjusted was $73.1 million compared to $74.1 million in the third quarter 2025
Guidance
- Full-year 2026 adjusted EBITDA guidance raised to $530 million – $560 million, including approximately $15 million of contribution from 2026 organic growth projects
- Expected incremental $60 million of adjusted EBITDA in 2027 from the 2026 growth capital program
Notes
The East Texas Marketing agreement was terminated on January 1, 2026.
Price and volatility reaction
The stock moved +1.0% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -4.3 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 51.24 | 2026-11-05 |
| Close after release | 51.77 | 2026-11-06 |
| Realised move | +1.0% | close to close |
| 30d ATM IV change | -4.3 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-06 (8-K, Item 2.02). Read the original filing on sec.gov.