Energy Transfer Lp · NYSE:ET
Energy Transfer Lp — Q2 2023 Earnings Presentation
11 slides from Energy Transfer Lp's earnings presentation, Aug 2, 2023
Slide 1: Q2 2023 Earnings
Q2 2023 Earnings August 2, 2023
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 2nd quarter 2023 earnings conference call. On the call, members of management may make statements about future events, outlook and expectations related to Sunoc
Slide 3: What’s New?
What’s New? Operational Financials Strategic Midstream gathered volumes reached a Narrowed 2023 Adjusted EBITDA On May 2, 2023, Energy Transfer new record in Q2’23 guidance: completed the acquisition of Lotus ‒ Expected Adj. EBITDA: $13.1 – $13.4B Midstream Operations, LLC NGL transportation
Slide 4: Lotus Midstream
Lotus Midstream Opportunistic Addition to Permian Pipeline Network Overview On May 2, 2023, Energy Transfer completed the acquisition of Lotus Midstream Operations, LLC for total consideration of $930 million in cash and approximately 44.5 million newly issued common units Integration is going w
Slide 5: Gulf Run Pipeline
Gulf Run Pipeline Providing An Efficient Gulf Coast Connection Gulf Run Pipeline Unparalleled access to prolific natural gas producing regions in the U.S. Perryville with ability to deliver Haynesville-area gas to Gulf Coast Region Zone 1 (Formerly Line CP): ~200-mile, interstate pipeline with a
Slide 6: Strong Investment Returns With Shorter Cash Cycle
Strong Investment Returns With Shorter Cash Cycle 2023E Growth Capital: ~$2 billion % of 2023E • Bear high-recovery cryogenic processing plant • New treating capacity in the Haynesville Midstream • Efficiency improvements and emissions reduction projects ~40% • Multiple gathering & processing and co
Slide 7: Outlook Supported by Strong Core Business
Outlook Supported by Strong Core Business ET 2023E Adjusted EBITDA $13.1 - $13.4 billion 2022 to 2023 Adjusted EBITDA Drivers 2023E Adjusted EBITDA Breakout + Volume growth on existing assets Commodity + NGL pipeline, frac and export activities Spread1 5-10% 0-5% + Lotus acquisition - Lower commodit
Slide 8: Alternative Energy Group – Leveraging asset base and expertise to develop projects
Alternative Energy Group – Leveraging asset base and expertise to develop projects to reduce environmental footprint Dual Drive Compressors - Established in 2012 Patented technology that allows for switching between electric motors and natural gas engines to drive compressors, and offers the indus
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 * 2020 2021 2022 2023 Year Full Year Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 To Date Net income $ 140 $ 6,687 $ 1,487 $ 1,622 $ 1,322 $ 1,437 $ 5,868 $ 1,447 $ 1,233 $ 2,680 Interest expense, net 2,327 2,267 559 578 577 592
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