Energy Transfer's Q3 Earnings Fall Short, but Crude and NGL Volumes Reach All-Time High
Energy Transfer reported Q3 earnings slightly below expectations, but achieved record volumes in natural gas liquids (NGL) and crude transportation. NGL transportation volumes were up 14% and crude transportation volumes gained 23%, both setting company records. The company expects its full-year adjusted EBITDA to range between $13.5 billion and $13.6 billion. Energy Transfer's expansion plans include increasing export capacity at its Nederland terminal and awaiting a decision from the U.S. Department of Energy on its Lake Charles LNG facility project. The company also announced the acquisition of Crestwood Equity Partners.