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Jun 30
Energy Transfer Q2 2025 Earnings Report
Energy Transfer reported solid Q2‐25 results with strong cash flow and adjusted EBITDA growth, despite a year‐over‐year decline in net income
Key Takeaways
For the quarter ended June 30, 2025, Energy Transfer generated revenue of $19.242 billion and GAAP EPS of $0.32. Net income attributable to partners declined to $1.163 billion, while Adjusted EBITDA rose to $3.87 billion. Distributable cash flow to partners (as adjusted) was $1.96 billion.
Consolidated revenue grew to $19.242 billion
GAAP EPS of $0.32; net income of $1.163 billion
Adjusted EBITDA increased to $3.87 billion
Distributable cash flow (adjusted) was $1.96 billion
Energy Transfer
Energy Transfer
Energy Transfer Revenue by Segment
Energy Transfer Revenue by Geographic Location
Revenue by Segment
Interstate Transportation & Storage Revenue
CapyFin.comMidstream Revenue
CapyFin.comAll Other Revenue
CapyFin.comRevenue by Geographic Location
U.S. Consolidated Revenue
CapyFin.com Forward Guidance
Energy Transfer now expects to be at or slightly below the lower end of its previously stated 2025 Adjusted EBITDA guidance of $16.1–$16.5 billion, and maintains growth capital expenditures guidance of approximately $5 billion.
Positive Outlook
- Adjusted EBITDA guidance range of $16.1–$16.5 billion
- 2025 growth capital expenditures expected at ~$5 billion
- Continued fee-based earnings with limited commodity price sensitivity
- Strong distributable cash flow generation
- Disciplined capital deployment via share repurchases and distributions
Challenges Ahead
- Forward-looking statements are subject to a variety of risks and uncertainties.
- Adjusted EBITDA guidance may be impacted by market and operational factors.
- Capital expenditure guidance could vary with project timing and costs.
- Uncertain impacts from regulatory or environmental developments.
- No obligation to update or revise any forward-looking statement.