Energy Transfer Lp · NYSE:ET
Energy Transfer Lp — Q1 2025 Earnings Presentation
15 slides from Energy Transfer Lp's earnings presentation, May 6, 2025
Slide 1: Q1 2025 Earnings
Coe ENERGY 5S. TRANSFER Moving America’s Energy Q1 2025 Earnings May 6, 2025
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 2025 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? Q1 2025 Net Income Q1 2025 Adjusted EBITDA 2025 Adjusted EBITDA Guidance Attributable to the Partners $1.32 $4.10 $16.1-$16.5 BILLION BILLION BILLION Up 7% vs Q1 2024 Up 6% vs Q1 2024 Midpoint up 5% vs FY 2024 Operational Financial Strategic Energy Transfer volumes compared to Q1’24
Slide 4: Nationwide Footprint With Diverse Product Offerings Across the Value Chain
Nationwide Footprint With Diverse Product Offerings Across the Value Chain Asset Overview Natural Gas Natural Gas Liquids (NGLs) Crude Refined Products Storage Mont Belvieu NGL Complex Terminals Processing Major Terminals Marcus Hook Terminal Houston Terminal Lake Charles Regas Nederland Terminal Cu
Slide 5: Leading Natural Gas Pipeline Footprint
Leading Natural Gas Pipeline Footprint Well Positioned to Meet Growing Electricity Demand Gas-fired power plants Energy Transfer is pursuing opportunities to serve growing power loads from new served via direct and demand centers across its pipeline network indirect connections: ~185 54 80 Recently
Slide 6: Well-Balanced, Diversified, Fee-Based Earnings
Well-Balanced, Diversified, Fee-Based Earnings Q1 2025 Adjusted EBITDA by Segment 2025E Adjusted EBITDA Breakout Commodity Spread1 5-10% 0-5% SUN, USAC & Other Crude Oil 14% 18% Natural Gas Inter & Intrastate NGL & Refined Pipelines & Products Storage 24% 21% Fee² Midstream ~90% 23% Pricing/spread a
Slide 7: Disciplined Growth Targeting Strong Investment Returns
Disciplined Growth Targeting Strong Investment Returns 2025E Growth Capital: ~$5.0 billion¹ % of 2025E • A significant amount of 2025 spend will be directed toward the Permian Basin, including: – Permian Processing Expansions (Badger, Lenorah II² and Mustang Draw) – Processing plant capacity additio
Slide 8: Growth Project Backlog
Growth Project Backlog Project Name Project Overview Status Upgrading four processing plants to add ~200 MMcf/d of incremental processing capacity in West Texas (Includes adding 50 MMcf/d at Permian Processing Upgrades In Partial Service Grey Wolf, Orla East, Arrowhead II and Arrowhead III, respecti
Slide 9: Hugh Brinson Pipeline Project
Hugh Brinson Pipeline Project Serving Premier Texas Markets and Supporting Data Center and AI Growth Hugh Brinson Pipeline Project: Phase 1 Construction underway on ~400 miles of 42” pipeline from Waha and the Midland Basin to Maypearl, TX • Secured majority of pipeline steel (currently being roll
Slide 10: Expanding World-Class NGL Export Facilities
Expanding World-Class NGL Export Facilities Marcus Hook Terminal Marcus Hook Terminal • Construction underway on 900,000 Bbls refrigerated ethane storage tank and approximately 20,000 Bbls/d of incremental ethane chilling capacity Total NGL Export Capacity Houston Terminal > 1.1mm Bbls/d Nederland T
Slide 11: Permian Basin Processing Expanding to Meet Growing Demand
Permian Basin Processing Expanding to Meet Growing Demand Permian Basin Footprint Extensive Permian Basin Footprint: • Currently have ~5.0 Bcf/d of processing capacity in the Permian Basin • Have significant acreage dedications to ET processing plants in the Permian Basin Lenorah I & II¹ Process
Slide 12: Leveraging asset base and expertise to develop projects to reduce environmental footprint
Leveraging asset base and expertise to develop projects to reduce environmental footprint Power Generation Constructing 8, 10- Construction underway on 8 natural gas-fired electric generation facilities to support Energy Transfer’s MW natural gas-fired operations in Texas. The first facility was p
Slide 13: Appendix / Non-GAAP Reconciliations
Appendix / Non-GAAP Reconciliations
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation Energy Transfer LP Reconciliation of Non-GAAP Measures * 2020 2021 2022 2023 2024 2025 Full Year Full Year Full Year Full Year Full Year Q1 Net income $ 140 $ 6,687 $ 5,868 $ 5,294 $ 6,565 $ 1,720 Depreciation, depletion and amortization 3,678 3,817 4,164 4,385 5,165 1,367 In
Slide 15: 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