Energy Transfer Lp · NYSE:ET
Energy Transfer Lp — Q1 2024 Earnings Presentation
14 slides from Energy Transfer Lp's earnings presentation, May 8, 2024
Slide 1: Q1 2024 Earnings
Cos ENERGY "S TRANSFER Moving America’s Energy Q1 2024 Earnings May 8, 2024
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 1st quarter 2024 earnings conference call. At the meetings, members of management may make statements about future events, outlook and expectations related to S
Slide 3: What's New?
What’s New? Q1 2024 Net Income Q1 2024 Adjusted EBITDA 2024 Adjusted EBITDA Guidance Attributable to the Partners $1.24 $3.9 $15.0-15.3 BILLION BILLION BILLION Up 11% vs Q1 2023 Up 13% vs Q1 2023 Midpoint up 11% vs FY 2023 Operational Financial Strategic Crude oil transportation volumes up 44% vs
Slide 4: Unique Nationwide Footprint
Unique Nationwide Footprint Crestwood and Lotus acquisitions expanded operating footprint, driving competitive scale and growth opportunities Asset Overview Natural Gas Natural Gas Liquids (NGLs) Crude Refined Products Storage Mont Belvieu NGL Complex Terminals Processing Major Terminals Marcus Hook
Slide 5: Growth Through Organic Projects and M&A
Growth Through Organic Projects and M&A Key asset additions since Q3 2022 Woodford Express Gulf Run Pipeline Bear Processing Plant Crestwood Equity Partners • Purchase price of $485mm¹ • (In Service December ’22) • (In Service June ’23) • Valued at $7.1B² • (Closed September ’22) • (Closed Novembe
Slide 6: Disciplined Growth Targeting Strong Investment Returns
Disciplined Growth Targeting Strong Investment Returns 2024E Growth Capital: $2.8 - $3.0 billion • Nederland NGL expansion % of 2024E • Nederland storage tank expansion • Lone Star Express and Gateway NGL Pipeline projects* NGL & Refined Products • Mont Belvieu Frac and storage facilities optimizati
Slide 7: Outlook Supported by Strong Core Business
Outlook Supported by Strong Core Business 2024E Adjusted EBITDA $15.0- $15.3 billion Balancing M&A and Organic Growth 2024E Adjusted EBITDA Breakout Adjusted EBITDA Commodity ($ in Billions) Spread1 5-10% 0-5% $15.0-15.3 $13.7 $13.1 Fee² ~90% 2022 2023 2024E Pricing/spread assumptions based on curre
Slide 8: Natural Gas Pipeline Footprint
Natural Gas Pipeline Footprint Energy Transfer currently serves gas-fired power plants in 15 states, and is evaluating Asset Overview incremental opportunities to serve existing or planned power plants across its network Intrastate Trans Pecos/Comanche Trail ET Fuel Oasis Houston Pipeline ETC Texas
Slide 9: Worldwide Markets for Rapidly Growing LPG Business
Worldwide Markets for Rapidly Growing LPG Business Energy Transfer Q1 2024 Top 20 LPG Exports by Destination Nederland Terminal 11 10 9 8 7 million barrels 6 5 4 3 2 1 0 During Q1 2024, Energy Transfer exported LPGs to more than 40 countries 9 Source: Internal
Slide 10: Expanding World-Class NGL Export Facilities
Expanding World-Class NGL Export Facilities Marcus Hook Terminal Marcus Hook Terminal • Construction continues on the first phase of an optimization project that would add incremental ethane refrigeration and storage capacity Total NGL Export Capacity Houston Terminal > 1.1mm Bbls/d Nederland Termin
Slide 11: Leveraging asset base and expertise to develop projects to reduce environmental footprint
Leveraging asset base and expertise to develop projects to reduce environmental footprint Dual Drive Compressors - Established in 2012 Proprietary technology that allows for switching between electric motors and natural gas engines to drive compressors, In May 2024, entered into and offers the i
Slide 12: Appendix / Non-GAAP Reconciliations
Appendix / Non-GAAP Reconciliations
Slide 13: Non-GAAP Reconciliation
Non-GAAP Reconciliation Energy Transfer LP Reconciliation of Non-GAAP Measures * 2019 2020 2021 2022 2023 2024 Full Year Full Year Full Year Full Year Full Year Q1 Net income $ 4,899 $ 140 $ 6,687 $ 5,868 $ 5,294 $ 1,692 Loss from discontinued operations - - - - - - Interest expense, net 2,331 2,327
Slide 14: Non-GAAP Reconciliation Definitions
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