Energy Transfer Equity, L.P. reported third-quarter 2016 earnings of 19 cents per unit, missing the Zacks Consensus Estimate of 27 cents by 29.6%. The reported figure was also down from the year-ago tally of 28 cents.
Total Revenue
In the quarter under review, Energy Transfer’stotal revenue came in at $9,675 million, surpassing the Zacks Consensus Estimate of $9,067 million by 6.7%.
However, revenues were down 8.9% from $10,616 million reported a year ago.
Operational Highlights
In the third quarter, total costs and expenses declined 9.9% year over year to $8,978 million primarily due to lower cost of products sold and operating expenses, partially offset by an increase in depreciation, depletion and amortization; and selling, general and administration expenses.
The company’s operating income improved 7.2% to nearly $697 million from $650 million a year ago.
Interest expenses were up 8.8 % to $481 million.
In the quarter under review, distributable cash flow was down 13.5% to $281 million from $325 million a year ago.
ENERGY TRAN EQT Price, Consensus and EPS Surprise
Financial Screening
As of Sep 30, 2016, Energy Transfer Equity had cash and cash equivalents of $472 million, compared with $606 million as of Dec 31, 2015.
Long-term debt as of Sep 30, 2016 was $40,020 million, up from $36,837 million as of Dec 31, 2015.
Energy Transfer Equity’s capital expenditure in the first nine months of 2016 was $6,123 million, down 8.4% from $6,688 million in the year-ago period.
Peer Releases
Buckeye Partners, L.P. reported third-quarter 2016 earnings of $1.19 per unit, surpassing the Zacks Consensus Estimate of 98 cents by 21.4%.
Boardwalk Pipeline Partners, LP’s third-quarter 2016 earnings of 19 cents per unit came in line with the Zacks Consensus Estimate.
CONE Midstream Partners LP reported third-quarter 2016 earnings of 40 cents per unit, surpassing the Zacks Consensus Estimate of 37 cents by 8.1%.
Zacks Rank
Energy Transfer Equitycurrently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Energy Transfer Equity, L.P. reported third-quarter 2016 earnings of 19 cents per unit, missing the Zacks Consensus Estimate of 27 cents by 29.6%. The reported figure was also down from the year-ago tally of 28 cents.
Total Revenue
In the quarter under review, Energy Transfer’stotal revenue came in at $9,675 million, surpassing the Zacks Consensus Estimate of $9,067 million by 6.7%.
However, revenues were down 8.9% from $10,616 million reported a year ago.
Operational Highlights
In the third quarter, total costs and expenses declined 9.9% year over year to $8,978 million primarily due to lower cost of products sold and operating expenses, partially offset by an increase in depreciation, depletion and amortization; and selling, general and administration expenses.
The company’s operating income improved 7.2% to nearly $697 million from $650 million a year ago.
Interest expenses were up 8.8 % to $481 million.
In the quarter under review, distributable cash flow was down 13.5% to $281 million from $325 million a year ago.
ENERGY TRAN EQT Price, Consensus and EPS Surprise
Financial Screening
As of Sep 30, 2016, Energy Transfer Equity had cash and cash equivalents of $472 million, compared with $606 million as of Dec 31, 2015.
Long-term debt as of Sep 30, 2016 was $40,020 million, up from $36,837 million as of Dec 31, 2015.
Energy Transfer Equity’s capital expenditure in the first nine months of 2016 was $6,123 million, down 8.4% from $6,688 million in the year-ago period.
Peer Releases
Buckeye Partners, L.P. reported third-quarter 2016 earnings of $1.19 per unit, surpassing the Zacks Consensus Estimate of 98 cents by 21.4%.
Boardwalk Pipeline Partners, LP’s third-quarter 2016 earnings of 19 cents per unit came in line with the Zacks Consensus Estimate.
CONE Midstream Partners LP reported third-quarter 2016 earnings of 40 cents per unit, surpassing the Zacks Consensus Estimate of 37 cents by 8.1%.
Zacks Rank
Energy Transfer Equitycurrently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>