Energy Transfer Q2 net income $2.09B, Adj EBITDA $5.07B (+31% YoY); raises FY guidance to $18.8-19.1B

Energy Transfer LP

Net income $2.09B ($0.59/unit) vs $1.16B; Adj EBITDA $5.07B (+31% YoY); DCF $2.59B (+32%).
FY 2026 Adj EBITDA guidance raised to $18.8-19.1B from $18.2-18.6B; growth capex $5.6-5.9B.
Operational records: NGL transport +13%, exports +25%, crude transport +4%, midstream gathered +4%.
Quarterly distribution $0.34/unit (+3% YoY), 19th consecutive increase; issued $1.75B in junior sub notes (6.55%-6.70%).
Hugh Brinson Pipeline in service; Nederland export expansion (240K bpd ethane, 55K bpd LPG); new long-term contracts for 300K bpd.

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