The following is a summary of the Energy Transfer LP Common Units (ET) Q3 2024 Earnings Call Transcript:
Financial Performance:
Adjusted EBITDA for Q3 2024 was $3.96 billion, an increase from $3.54 billion in Q3 2023.
Distributable Cash Flow (DCF) remained stable at $1.99 billion, consistent with the previous year.
Organic growth capital expenditure for the first nine months of 2024 was approximately $1.7 billion, focusing on the Midstream, NGL, and Refined Product segments.
Business Progress:
Completed acquisition of WTG, enhancing Permian Basin operations.
Announced formation of a joint venture with Sunoco LP, combining crude oil and produced water gathering assets in the Permian Basin.
Progress on construction and upgrades at various processing plants and pipelines, including a 200 million cubic feet per day Badger processing plant and a 30-mile pipeline from Midland to Cushing.
Construction ongoing for natural gas-fired electric generation facilities in Texas, with the first expected in service in Q1 next year.
Opportunities:
Expansion in NGL export capacity and fractionation at Mont Belvieu.
Increased natural gas demand from the AI and datacenter sectors alongside traditional power generation, leveraging extensive interstate and intrastate natural gas pipeline networks.
Potential market expansion due to increased natural gas usage in power plants and datacenters, with requests for connection to about 45 power plants and 40 datacenters across multiple states.
Risks:
Lower gains from optimized hedged NGL inventory impacting financial results in the NGL and Refined Products segment.
Volatility in natural gas prices affecting the profitability and operation of intrastate and interstate natural gas pipelines.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
