Energy Transfer LP · NYSE:ET
Energy Transfer LP — Q3 2022 Earnings Presentation
11 slides from Energy Transfer LP's earnings presentation, Nov 1, 2022
Slide 1: Q3 2022 Earnings
Q3 2022 Earnings November 1, 2022
Slide 2: Forward-looking Statements / Legal Disclaimer
Forward-looking Statements / Legal Disclaimer Management of Energy Transfer LP (ET) will provide this presentation in conjunction with ET’s 3rd quarter 2022 earnings conference call. On the call, members of management may make statements about future events, outlook and expectations related to Panha
Slide 3: What's New?
What’s New? Operational Financials Strategic Achieved record intrastate natural gas Increased 2022 Guidance for third time: In September, completed Woodford transportation volumes in 3Q’22 ‒ Expected Adj. EBITDA: $12.8 – $13.0B Express bolt-on acquisition for $485 million Midstream gathered
Slide 4: Gulf Run Pipeline Project
Gulf Run Pipeline Project Provides An Efficient Gulf Coast Connection Gulf Run Pipeline Project Overview 135-mile, 42” interstate pipeline with an expected capacity of 1.65 Bcf/d Backed by a 20-year commitment for 1.1 Bcf/d with cornerstone shipper Golden Pass LNG (Qatar Petroleum & Exxon Mobil)
Slide 5: Lake Charles LNG Export Terminal
Lake Charles LNG Export Terminal Increasing Interest As Global LNG Demand Grows Lake Charles LNG Export Project Executed LNG Sale and Purchase Agreements (SPA) ‒ Shell NA LNG – 2.1 million tonnes per annum for 20 years ‒ China Gas – 0.7 million tonnes per annum for 25 years ‒ SK Gas – 0.4 million
Slide 6: Increasing Investment Returns With Shorter Cash Cycle
Increasing Investment Returns With Shorter Cash Cycle 2022E Growth Capital: $1.8 billion to $2.1 billion1 % of 2022E1 • Grey Wolf and Bear high-recovery cryogenic processing plants • Efficiency improvements and emissions reductions projects Midstream • Modernization and debottlenecking of existing s
Slide 7: 2022 Outlook Supported by Strong Core Business
2022 Outlook Supported by Strong Core Business Updated ET 2022E Adjusted EBITDA $12.8 - $13.0 billion 2021 to 2022 Adjusted EBITDA Drivers 2022E Adjusted EBITDA Breakout + Enable Acquisition Commodity + NGL pipeline and export activities 10-12.5% Spread1 + NGL / gas prices 0-2.5% - Lower asset optim
Slide 8: Alternative Energy Group – Leveraging asset base and expertise to develop projects to reduce environmental footprint
Alternative Energy Group – Leveraging asset base and expertise to develop projects to reduce environmental footprint Focused on leveraging significant asset base and energy industry expertise to develop projects to reduce environmental footprint throughout operations Dual Drive Compressors - Establi
Slide 9: Appendix / Non-GAAP Reconciliations
Appendix / Non-GAAP Reconciliations
Slide 10: Non-GAAP Reconciliation
Non-GAAP Reconciliation Energy Transfer LP Reconciliation of Non-GAAP Measures * 2019 2020 2021 2022 Full Year Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 YTD Net income $ 4,825 $ 140 $ 3,641 $ 908 $ 907 $ 1,231 $ 6,687 $ 1,487 $ 1,622 $ 1,322 $ 4,431 Interest expense, net 2,331 2,327 589 566 558 554 2
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation Definitions Adjusted EBITDA and Distributable Cash Flow are non-GAAP financial measures used by industry analysts, investors, lenders and rating agencies to assess the financial performance and the operating results of Energy Transfer's fundamental business activities and sho