Energy Transfer LP (ET) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Energy Transfer First Quarter 2026 Earnings Call. All participant lines will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on your touchtone phone. To withdraw your question, you may press star and then two. Please note, this event is being recorded. I would now like to turn the conference call over to Mr. Tom Long, Co-Chief Executive Officer. Thank you, and over to you. Thank you, Operator, and good morning, everyone, and welcome to the Energy Transfer First Quarter 2026 Earnings Call. I'm also joined today by Mackie McCree, Dylan Bramhall, and other members of the Senior Management Team who are here to help answer your questions after our prepared remarks. Hopefully you saw the press release we issued earlier this morning. As a reminder, our earnings release contains an update to guidance and a thorough MD&A that goes through the segment results in detail, and we encourage everyone to take a look at the press release, as well as the slides posted to our website to gain a full understanding of the quarter and our growth opportunities. As a reminder, we will be making forward-looking statements within the meeting of Section 21E of the Security Exchange Act of 1934. These statements are based upon our current beliefs as well as certain assumptions and information currently available to us and are discussed in more detail in our Form 10-Q for the quarter end of March 31, 2026, which we expect to file later this week. I'll also refer to Adjusted EBITDA and Distributable Cash Flow, or DCF, both of which are non-GAAP financial ...