The following is a summary of the Energy Transfer LP (ET) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Energy Transfer LP reported a significant increase in adjusted EBITDA to $3.76 billion for Q2 2024, compared to $3.1 million in Q2 2023.

• Distributable Cash Flow (DCF) available to the partners of Energy Transfer was $2 billion, up from $1.6 billion in the same quarter of the previous year.

• The company has raised its 2024 adjusted EBITDA guidance to between $15.3 billion and $15.5 billion, reflecting solid underlying business performance and successful acquisitions.

Business Progress:

• The company achieved record volumes through its crude oil and NGL pipelines and saw strong performance from NGL fractionators and refined products pipelines and terminals.

• Energy Transfer completed the acquisition of WTG, enhancing their Permian operations and downstream businesses.

• Significant progress in the construction of expansions at the Nederland and Marcus Hook export terminals.

• Announced the construction of the Badger processing plant and placement of the Red Lake 3 processing plant into service.

Opportunities:

• The formation of a joint venture with Sunoco LP in the Permian Basin combines crude oil and produced water gathering assets, enhancing market and service offerings.

• Continued expansion and optimization projects in the Permian Basin and across other operations present opportunities for substantial growth and increased market reach.

Risks:

• No explicit risks detected.

More details: Energy Transfer IR

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