We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Energy Transfer Equity (ETE) Q1 Earnings Miss, Revenues Beat
Read MoreHide Full Article
Energy Transfer Equity, L.P. reported first-quarter 2018 earnings of 42 cents per unit, lagging the Zacks Consensus Estimate of 46 cents by 8.7%. However, the bottom line improved by 82.6% compared with the year-ago figure of 23 cents.
Total Revenues
In the quarter under review, Energy Transfer Equity’s total revenues came in at $11,882 million, surpassing the Zacks Consensus Estimate of $11,053 million by 7.5%. The top line declined 23% from the year-ago- quarter.
Energy Transfer Equity, L.P. Price, Consensus and EPS Surprise
In the first quarter, the company spent $9,245 million on cost of product sold, up 23.1% from the year-ago figure of $7,510 million.
Total operating expenses amounted to $724 million, up 20.4% compared with $601 million in the prior-year quarter.
Total costs and expenses amounted to $10,782 million, up 21.1% compared with $8,904 million a year ago.
Total interest expenses dipped 1.5% to $466 million from $473 million a year ago.
Operating income came in at $1,100 million in the reported quarter, up 45.3% from the year-ago tally of $757 million.
Financial Condition
As of Mar 31, 2018, Energy Transfer Equity had long-term debt (less current maturities) of $41,779 million, down from the 2017-end level of $43,671 million.
Enable Midstream Partners, LP reported adjusted earnings of 24 cents per share in first-quarter fiscal 2018, beating the Zacks Consensus Estimate of 22 cents.
Enterprise Products Partners L.P. (EPD - Free Report) first-quarter 2018 adjusted earnings came in at 39 cents per share, surpassing the Zacks Consensus Estimate of 38 cents.
Summit Midstream Partners, LP. (SMLP - Free Report) first-quarter 2018 adjusted earnings came in at 12 cents per share, outpacing the consensus mark of 7 cents by 71.4%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Energy Transfer Equity (ETE) Q1 Earnings Miss, Revenues Beat
Energy Transfer Equity, L.P. reported first-quarter 2018 earnings of 42 cents per unit, lagging the Zacks Consensus Estimate of 46 cents by 8.7%. However, the bottom line improved by 82.6% compared with the year-ago figure of 23 cents.
Total Revenues
In the quarter under review, Energy Transfer Equity’s total revenues came in at $11,882 million, surpassing the Zacks Consensus Estimate of $11,053 million by 7.5%. The top line declined 23% from the year-ago- quarter.
Energy Transfer Equity, L.P. Price, Consensus and EPS Surprise
Energy Transfer Equity, L.P. Price, Consensus and EPS Surprise | Energy Transfer Equity, L.P. Quote
Operational Highlights
In the first quarter, the company spent $9,245 million on cost of product sold, up 23.1% from the year-ago figure of $7,510 million.
Total operating expenses amounted to $724 million, up 20.4% compared with $601 million in the prior-year quarter.
Total costs and expenses amounted to $10,782 million, up 21.1% compared with $8,904 million a year ago.
Total interest expenses dipped 1.5% to $466 million from $473 million a year ago.
Operating income came in at $1,100 million in the reported quarter, up 45.3% from the year-ago tally of $757 million.
Financial Condition
As of Mar 31, 2018, Energy Transfer Equity had long-term debt (less current maturities) of $41,779 million, down from the 2017-end level of $43,671 million.
Zacks Rank
Energy Transfer Equity currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Oil & Gas Pipeline Releases
Enable Midstream Partners, LP reported adjusted earnings of 24 cents per share in first-quarter fiscal 2018, beating the Zacks Consensus Estimate of 22 cents.
Enterprise Products Partners L.P. (EPD - Free Report) first-quarter 2018 adjusted earnings came in at 39 cents per share, surpassing the Zacks Consensus Estimate of 38 cents.
Summit Midstream Partners, LP. (SMLP - Free Report) first-quarter 2018 adjusted earnings came in at 12 cents per share, outpacing the consensus mark of 7 cents by 71.4%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>