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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