ENERGY TRANSFER REPORTS FOURTH QUARTER 2021 RESULTS

February 16, 2022 at 4:10 PM ESTPDF Version

DALLAS–(BUSINESS WIRE)–Feb. 16, 2022– Energy Transfer LP (NYSE: ET) (“Energy Transfer” or the “Partnership”) yesterday reported financial results for the quarter and year ended December 31, 2021.

Energy Transfer reported net income attributable to partners for the three months ended December 31, 2021 of $921 million, an increase of $412 million compared to the same period last year. For the three months ended December 31, 2021, net income per limited partner unit (basic and diluted) was $0.29 per unit.

Adjusted EBITDA for the three months ended December 31, 2021 was $2.81 billion compared to $2.59 billion for the same period last year. The improved results were primarily driven by increased NGL transportation and export volumes, higher realized commodity prices, and the Enable acquisition. Energy Transfer’s NGL business also had record transportation and fractionation volumes in the fourth quarter.

Distributable Cash Flow attributable to partners, as adjusted, for the three months ended December 31, 2021 was $1.60 billion compared to $1.36 billion for the same period last year.

Growth capital expenditures in 2021 were $1.40 billion, which was $200 million less than expected due to project deferrals into 2022. Maintenance capital expenditures were $522 million. Looking ahead, Energy Transfer is updating its 2022 growth and maintenance capital expenditures outlook as a result of the recently closed Enable acquisition and rapidly growing demand for midstream infrastructure. The Partnership expects its 2022 growth capital expenditures to range from $1.6 billion to $1.9 billion, which includes the addition of several new capital projects expected to be completed by year end. Maintenance capital expenditures are expected to range between $615 million and $665 million for 2022. Energy Transfer is also providing an outlook f https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-reports-fourth-quarter-2021-resultsor 2022 Adjusted EBITDA which is expected to range between $11.8 billion and $12.2 billion. https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-reports-fourth-quarter-2021-results