Energy Transfer LP (ET) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.156 and welcome to the Energy Transfer Second Quarter 2025 Earnings 00:00:05.156 -- 00:00:10.541 Conference Call. At this time, all participants are in listen-only mode. 00:00:10.541 -- 00:00:14.645 Should you need assistance during the conference call, you may signal an operator by 00:00:14.645 -- 00:00:20.030 pressing the star key followed by zero. After today's presentation, there'll be an opportunity 00:00:20.030 -- 00:00:25.175 to ask questions. To ask a question, you may press star, then one on your telephone 00:00:25.175 -- 00:00:29.630 keypad. To withdraw your question, please press star, then two. 00:00:29.630 -- 00:00:33.977 Please note this event is being recorded. I would now like to turn the conference over 00:00:33.977 -- 00:00:37.202 to Tom Long. Please go ahead. 00:00:37.202 -- 00:00:41.769 Thank you, operator. Good afternoon, everyone, and welcome to the Energy Transfer Second 00:00:41.769 -- 00:00:46.877 Quarter 2025 earnings call. I'm also joined today by Mackie McCree and other 00:00:46.877 -- 00:00:51.685 members of the senior management team who are here to help answer your questions after 00:00:51.685 -- 00:00:56.212 our prepared remarks. Hopefully you saw the press release we issued earlier this afternoon 00:00:56.212 -- 00:01:00.478 as a reminder that Our earnings release contains a thorough MD&A that goes through the 00:01:00.478 -- 00:01:05.023 segment results in detail, and we encourage everyone to take a look at the release as 00:01:05.023 -- 00:01:09.709 well as the slides posted to our website to gain a full understanding of the quarter 00:01:09.709 -- 00:01:13.974 and our growth opportunities. As a reminder, we will be making forward-looking statements 00:01:13.974 -- 00:01:17.899 within the meaning of S...