Fueled by Another Acquisition, Energy Transfer Continues to Deliver Record-Setting Results

Core Viewpoint - Energy Transfer is experiencing significant growth through acquisitions and expansion initiatives, leading to record volumes and earnings growth. Group 1: Acquisitions and Expansion - Energy Transfer has completed a $3.1 billion acquisition of WTG Midstream and a $7.1 billion merger with Crestwood Equity Partners, contributing to its growth strategy [1][4] - The company is actively investing in organic expansion, with a pipeline of projects expected to enhance its operations [2][9] Group 2: Volume and Earnings Growth - The third quarter saw record-setting volume growth across various segments, including a 25% increase in crude oil transportation and a 49% rise in crude oil export volume [3][5] - Energy Transfer generated nearly $4 billion in EBITDA, marking a nearly 12% increase year-over-year, while distributable cash flow remained stable at about $2 billion [5][6] Group 3: Financial Flexibility and Future Growth - The company maintains a high-yielding distribution of nearly 7.5%, with $1.1 billion paid in distributions and approximately $900 million in excess free cash flow [6][11] - Energy Transfer plans to invest between $2.8 billion and $3 billion in growth capital projects this year, with ongoing projects expected to come online through 2026 [9][10] Group 4: Strategic Projects - Recent expansions include the Orla East processing plant and a new crude oil pipeline, which are anticipated to boost volume and cash flow [8][9] - Proposed projects such as the Lake Charles LNG terminal and carbon capture initiatives are in development, further enhancing the company's growth outlook [10]