Compared to Estimates, Energy Transfer LP (ET) Q4 Earnings: A Look at Key Metrics

For the quarter ended December 2025, Energy Transfer LP (ET) reported revenue of $25.32 billion, up 29.6% over the same period last year. EPS came in at $0.25, compared to $0.29 in the year-ago quarter.

The reported revenue represents a surprise of -2.7% over the Zacks Consensus Estimate of $26.02 billion. With the consensus EPS estimate being $0.34, the EPS surprise was -26.84%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Energy Transfer LP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Midstream - Gathered volumes: 21,484.00 BBtu/D versus the two-analyst average estimate of 21,570.48 BBtu/D.
• Midstream - NGLs produced: 1176 millions of barrels of oil compared to the 1160.76 millions of barrels of oil average estimate based on two analysts.
• Midstream - Equity NGLs: 64 millions of barrels of oil versus the two-analyst average estimate of 64.91 millions of barrels of oil.
• NGL and Refined Products Transportation and Services - NGL and refined products terminal volumes: 1639 millions of barrels of oil versus 1674.22 millions of barrels of oil estimated by two analysts on average.
• NGL and Refined Products Transportation and Services - NGL fractionation volumes: 1177 millions of barrels of oil versus the two-analyst average estimate of 1139.3 millions of barrels of oil.
• NGL and Refined Products Transportation and Services - Refined products transportation volumes: 603 millions of barrels of oil versus 593.5 millions of barrels of oil estimated by two analysts on average.
• NGL and Refined Products Transportation and Services - NGL transportation volumes: 2364 millions of barrels of oil versus the two-analyst average estimate of 2361.5 millions of barrels of oil.
• Adjusted EBITDA- Intrastate transportation and storage: $355 million versus the two-analyst average estimate of $271.38 million.
• Adjusted EBITDA- Interstate transportation and storage: $523 million versus the two-analyst average estimate of $502.98 million.
• Adjusted EBITDA- Crude oil transportation and services: $722 million versus the two-analyst average estimate of $746.73 million.
• Adjusted EBITDA- NGL and refined products transportation and services: $1.08 billion compared to the $1.1 billion average estimate based on two analysts.
• Adjusted EBITDA- Midstream: $720 million compared to the $810.34 million average estimate based on two analysts.

View all Key Company Metrics for Energy Transfer LP here>>>

Shares of Energy Transfer LP have returned +8.1% over the past month versus the Zacks S&P 500 composite's -1.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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