---
schema_version: "secwatch.filing_event.v1"
accession: "0001276187-25-000080"
form_type: "8-K"
ticker: "ET"
cik: "0001276187"
company_name: "Energy Transfer LP"
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T18:57:48.292558+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Energy Transfer Q2 net income $1.16B, Adjusted EBITDA $3.87B; Transwestern $5.3B expansion

## Summary
- Net income $1.16B vs $1.31B YoY; diluted EPS $0.32.
- Adjusted EBITDA $3.87B vs $3.76B YoY; DCF $1.96B vs $2.04B.
- Record volumes: crude +9%, NGL +4%, midstream gathered +10%, NGL exports +5%.
- Transwestern 1.5 Bcf/d expansion costing ~$5.3B; in service Q4 2029.
- Quarterly distribution raised to $0.33/unit (+3% YoY); FY25 EBITDA guidance narrowed to lower end of $16.1-16.5B.

## SEC filing metadata
- accession: 0001276187-25-000080
- form_type: 8-K
- ticker: ET
- cik: 0001276187
- company_name: Energy Transfer LP
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1276187/000127618725000080/0001276187-25-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1276187/000127618725000080/et-20250806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001276187-25-000080
- JSON: https://secwatch.observer/filing/0001276187-25-000080.json
- Plain text: https://secwatch.observer/filing/0001276187-25-000080.txt

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