Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.

Energy Transfer LP

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Other

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Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	40,262	40,313	42,358	41,271	37,315	43,440
Total Revenues %Chg	-4.9%	-2.3%	13.5%	-5%	-19.6%	23%
Refined Product Sales
Crude Sales
NGL Sales
Gathering, Transportation and Other Fees
Natural Gas Sales
Other
Cost of Sales	29,517	29,769	32,206	31,839	28,702	34,579
Cost of Products Sold
Gross Profit	10,745	10,544	10,152	9,432	8,613	8,861
Gross Profit Margin	26.7%	26.2%	24%	22.9%	23.1%	20.4%
Selling, General & Administrative Expenses	545	585	592	519	466	577
Selling, General and Administrative
Depreciation & Amortization Expenses	2,751	2,698	2,467	2,265	2,120	2,090
Depreciation, Depletion and Amortization
Other Operating Expenses	2,649	2,801	2,415	2,250	2,130	2,415
Impairment Losses
Operating Expenses
Operating Profit	4,800	4,460	4,678	4,398	3,897	3,779
Operating Income
Operating Margin	11.9%	11.1%	11%	10.7%	10.4%	8.7%
Interest and Investment Income	197	196	183	200	183	139
Equity in Earnings of Unconsolidated Affiliates
Interest Expense	-1,674	-1,635	-1,490	-1,318	-1,260	-1,169
Interest Expense, Net of Interest Capitalized
Non-Operating Income	-25	85	629	-542	39	137
Gains on Disposal of Assets
Impairment of Investments in Unconsolidated Affiliates
Gains on Acquisitions
Gains on Extinguishments of Debt
Losses on Extinguishments of Debt
Losses on Interest Rate Derivatives
Gain on Interest Rate Derivative
Non-Operating Litigation Related Loss
Gain on Sale of Sunoco LP West Texas Assets
Other, Net
Total Non-Operating Income	-1,502	-1,354	-678	-1,660	-1,038	-893
Income Before Provision for Income Taxes	3,298	3,106	4,000	2,738	2,859	2,886
Income Before Income Tax Expense
Income from Continuing Operations Before Income Tax Expense
Income from Continuing Operations Before Income Tax Benefit
Provision for Income Taxes	120	225	316	124	179	127
Income Tax Expense
Income Tax Benefit
Consolidated Net Income	3,178	2,881	3,684	2,614	2,680	2,759
Income from Continuing Operations
Net Income
Net Income Attributable to Minority Interests and Other	694	623	1,132	704	658	600
Less: Net Income Attributable to Noncontrolling Interests
Less: Net Income Attributable to Redeemable Noncontrolling Interests
General Partner's Interest in Net Income
Net Income Attributable to Preferred Dividends	138	135	281	241	222	211
Convertible Unitholders' Interest in Income
Class D Unitholder's Interest in Net Income
Preferred Unitholders' Interest in Net Income
Loss on Redemption of Preferred Units
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—
Income from Discontinued Operations, Net of Income Taxes
Net Income Attributable to Common Shareholders	4,832	4,383	4,825	3,580	3,824	4,109
Net Income Attributable to Partners
Common Unitholders' Interest in Net Income
Basic EPS	0.7	0.6	0.7	0.5	0.6	0.6
Diluted EPS	0.7	0.6	0.7	0.5	0.6	0.6
Basic Weighted Average Shares Outstanding	3,431.8	3,424.4	3,369.6	3,199.2	3,111.3	3,090
Total Shares Outstanding	3,432.6	3,431.1	3,370	3,367.5	3,096.8	3,094.4
Diluted Weighted Average Shares Outstanding	3,454.1	3,400.7	3,393.3	3,177.5	3,133	3,090
EBITDA	7,551	7,158	7,145	6,663	6,017	5,869
Effective Tax Rate	3.6%	7.2%	7.9%	4.5%	6.3%	4.4%