Energy Transfer (ET) Misses Q1 EPS, Revs

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Go back to Energy Transfer (ET) Misses Q1 EPS, Revs

Energy Transfer Reports First Quarter 2020 Results and Reduces Capital Expenditures

May 11, 2020 4:10 PM EDT

DALLAS--(BUSINESS WIRE)-- Energy Transfer LP (NYSE: ET) (ET or the Partnership) today reported financial results for the quarter ended March 31, 2020.

ET reported an earnings net loss attributable to partners for the three months ended March 31, 2020 of $855 million, which included non-cash goodwill impairments of $1.3 billion recorded during the period as a result of decreases in commodity prices and market demand.

Adjusted EBITDA for the three months ended March 31, 2020 was $2.64 billion, a decrease of $100 million compared to the three months ended March 31, 2019, primarily due to crude oil, NGL and refined products inventory valuation... More