Energy Transfer Reports Slower Growth but Anticipates Re-acceleration

Energy Transfer (ET -0.14%) delivered a mixed second-quarter performance, with adjusted EBITDA rising 3% year-over-year to $3.9 billion while distributable cash FLOW dipped 4% to $2 billion. The slowdown follows record-breaking growth in 2023 fueled by acquisitions, but management signals an imminent rebound.

Interstate transportation and midstream operations drove earnings, offsetting weaker crude oil and NGL segments. The NuStar acquisition contributed significantly to the investment income line, showcasing the strategic value of recent M&A activity.

Market observers note the infrastructure giant continues demonstrating operational excellence through volume records across multiple assets. The partnership's diversified footprint positions it to capitalize on evolving energy market dynamics as structural demand for midstream services grows.