Energy Transfer stock lifts 2026 EBITDA outlook after Q3 growth
Published on 11/03/2026 at 17:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSStronger outlook after third-quarter growth
- Adjusted EBITDA increased 31 percent year over year, while distributable cash flow attributable to partners rose 33 percent.
- Energy Transfer raised its 2026 adjusted EBITDA outlook and outlined continued spending on pipeline and processing projects.
- The quarterly distribution increased for the twentieth consecutive quarter.
Energy Transfer reported stronger third-quarter operating results on Tuesday, November 3, 2026, and lifted its full-year outlook. The Business Wire release carried by Yahoo Finance covers the quarter ended September 30.
Cash generation strengthens
Net income attributable to partners rose to 1.21 billion US dollars from 1.02 billion US dollars a year earlier. Basic net income per common unit was 0.33 US dollars, compared with 0.28 US dollars in the prior-year quarter.
Adjusted EBITDA increased to 5.03 billion US dollars from 3.84 billion US dollars, a gain of 31 percent. Adjusted distributable cash flow attributable to partners reached 2.52 billion US dollars, up from 1.90 billion US dollars, or 33 percent.
The company said the quarter included 379 million US dollars of unrealized losses on commodity risk-management activities in the reconciliation to adjusted EBITDA. That non-cash item helps explain why the adjusted measures showed stronger operating momentum than the basic per-unit result.
Higher guidance and new projects
Energy Transfer now expects 2026 adjusted EBITDA of 19.7 billion to 19.9 billion US dollars, compared with its previous range of 18.8 billion to 19.1 billion US dollars. Growth capital spending is expected at 5.4 billion to 5.6 billion US dollars in 2026 and approximately 7 billion US dollars in 2027.
Operational volumes also advanced. Intrastate transportation increased 14 percent, midstream gathered volumes rose 6 percent, NGL transportation volumes gained 6 percent and NGL exports increased 9 percent year over year.
The release highlighted the Hugh Brinson Pipeline, the Mustang Draw II processing plant and the South Mississippi Pipeline project. Energy Transfer expects the South Mississippi project to enter service in 2030 and said it had secured long-term transportation agreements supporting the planned 1.2 billion cubic feet per day capacity.
Distribution remains a key investor focus
Energy Transfer announced a quarterly cash distribution of 0.3425 US dollars per common unit, or 1.37 US dollars annualized. The increase of more than 3 percent from the year-earlier quarter marked the partnership's twentieth consecutive quarterly increase.
The company scheduled its third-quarter conference call for 9:00 a.m. Eastern Time on November 3. Details and the webcast are available on the Energy Transfer investor-relations site.
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Energy Transfer quarterly snapshot
- Company: Energy Transfer LP
- ISIN: US29273V1008
- Exchange ticker: ET
- Reporting period: Quarter ended September 30, 2026
- Adjusted EBITDA: 5.03 billion US dollars
- Adjusted distributable cash flow: 2.52 billion US dollars
- 2026 adjusted EBITDA outlook: 19.7 billion to 19.9 billion US dollars
- Quarterly distribution: 0.3425 US dollars per common unit
