Energy Transfer LP (ET) Q3 FY2026 earnings

Reported results

• GAAP net income attributable to partners for the three months ended September 30, 2026 was $1.21 billion compared to $1.02 billion for the three months ended September 30, 2025.
• GAAP net income per common unit (basic) was $0.33 for the three months ended September 30, 2026.
• Non-GAAP Adjusted EBITDA for the three months ended September 30, 2026 was $5.03 billion compared to $3.84 billion for the three months ended September 30, 2025, an increase of 31%.
• Non-GAAP Distributable Cash Flow attributable to partners, as adjusted, for the three months ended September 30, 2026 was $2.52 billion compared to $1.90 billion for the three months ended September 30, 2025, an increase of 33%.
• GAAP total revenues for the three months ended September 30, 2026 were $37,103 million compared to $19,954 million for the three months ended September 30, 2025.
• Growth capital expenditures in the third quarter of 2026 were $1.30 billion and maintenance capital expenditures were $284 million.

Guidance

• Full year 2026 Adjusted EBITDA is expected to range between $19.7 billion and $19.9 billion, compared to the previous range of between $18.8 billion and $19.1 billion.
• Growth capital investments for 2026 are expected to be $5.4 billion to $5.6 billion.
• Growth capital investments for 2027 are expected to be approximately $7 billion.

Price and volatility reaction

The stock moved -0.9% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -1.6 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-11-03 (8-K, Item 2.02). Read the original filing on sec.gov.