---
schema_version: "secwatch.filing_event.v1"
accession: "0001276187-25-000048"
form_type: "8-K"
ticker: "ET"
cik: "0001276187"
company_name: "Energy Transfer LP"
filed_at: "2025-05-06T23:59:59+00:00"
generated_at: "2026-05-22T11:06:03.492149+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Energy Transfer Q1 net income $1.32B, adj EBITDA $4.1B; distribution raised >3%

## Summary
- Net income $1.32B ($0.37/unit) vs $1.24B a year ago; adjusted EBITDA $4.1B vs $3.88B.
- Distributable cash flow $2.31B; growth capex $955M, maintenance $165M; guidance reaffirmed: FY adj EBITDA $16.1-16.5B, capex ~$5B.
- Quarterly distribution raised >3% to $0.3275/unit ($1.31 annualized).
- Interstate natgas volumes record, crude oil vol +10%, NGL vol +4%, NGL exports +5%.
- Strategic: HOA with MidOcean for Lake Charles LNG (30% funding for 30% LNG); approved Mustang Draw plant (275 MMcf/d, in-service Q2 2026).

## SEC filing metadata
- accession: 0001276187-25-000048
- form_type: 8-K
- ticker: ET
- cik: 0001276187
- company_name: Energy Transfer LP
- filed_at: 2025-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1276187/000127618725000048/0001276187-25-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1276187/000127618725000048/et-20250506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001276187-25-000048
- JSON: https://secwatch.observer/filing/0001276187-25-000048.json
- Plain text: https://secwatch.observer/filing/0001276187-25-000048.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.