Energy Transfer LP (ET) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.699 Good morning and welcome to the Energy Transfer Fourth Quarter 2025 Earnings Call. 00:00:05.699 -- 00:00:08.963 All participants will be in listen-only mode. 00:00:08.963 -- 00:00:12.849 Should you need assistance, please signal a conference specialist by pressing the star 00:00:12.849 -- 00:00:15.012 key followed by zero. 00:00:15.012 -- 00:00:19.438 After today's presentation, there will be an opportunity to ask questions. 00:00:19.438 -- 00:00:24.044 To ask a question, you may press star then one on a touch-tone phone. 00:00:24.044 -- 00:00:27.993 To withdraw your question, please press star then two. 00:00:27.993 -- 00:00:33.130 Please note this event is being recorded. I would now like to turn the conference over 00:00:33.130 -- 00:00:36.019 to Tom Long, Co-Chief Executive Officer. 00:00:36.019 -- 00:00:39.484 Please go ahead. 00:01:09.168 -- 00:01:13.473 Thank you, operator, and good morning, everyone, and welcome to the Energy Transfer Fourth 00:01:13.473 -- 00:01:18.640 Quarter 2025 Earnings Call. I'm also joined today by Mackie McCree and other 00:01:18.640 -- 00:01:23.246 members of the senior management team who are here to help answer your questions after 00:01:23.246 -- 00:01:28.732 our prepared remarks. Hopefully, you saw the press release we issued earlier this morning. 00:01:28.732 -- 00:01:33.979 As a reminder, our earnings release contains an update to guidance and a thorough 00:01:33.979 -- 00:01:39.014 MD&A that goes through the segment results in detail And we encourage everyone 00:01:39.014 -- 00:01:44.719 to look at the release, as well as the slides posted to our website, to gain a full understanding 00:01:44.719 -- 00:01:47.763 of the quarter and our growth opportunities. 00:01:47.763 -- 00:01:52.648 As a r...