Energy Transfer Q1 Earnings Call Highlights

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Long attributed the 4th to “strong operations,” citing grounds midstream gathering volumes, NGL fractionation volumes, NGL export volumes, and crude lipid proscription volumes. Energy Transfer spent astir $1.5 cardinal connected integrated maturation superior during the quarter, chiefly successful the intrastate NGL and refined products, midstream, and interstate segments (excluding Sun and USA Compression superior spending).

Updated 2026 outlook: higher EBITDA and maturation superior

Long said Energy Transfer raised its 2026 adjusted EBITDA guidance scope to astir $18.2 cardinal to $18.6 billion. The anterior range, arsenic stated connected the call, was astir $7.45 cardinal to $17.85 billion. Long said the updated outlook reflects a astir $500 cardinal bushed versus interior expectations successful the archetypal 4th and that the concern captured its full-year optimization people successful the archetypal quarter, alongside expectations for continued outperformance.

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The institution besides accrued its 2026 integrated maturation superior guidance to astir $5.5 cardinal to $5.9 billion, up from astir $5.0 cardinal to $5.5 cardinal (excluding Sunoco and USAC). Long said the summation was driven by added projects, including:

• Construction of the Springerville Lateral disconnected the Transwestern Pipeline

• Pipelines and metre stations to service powerfulness plants and information halfway sites successful Oklahoma and Arkansas

• Accelerated timing connected longer-term projects including Desert Southwest and the FGT superior program

• Permian gathering strategy and compression build-out tied to declaration and acreage dedication extensions