Energy Transfer LP (ET - Free Report) reported third-quarter 2018 earnings of 32 cents per unit, lagging the Zacks Consensus Estimate of 59 cents by 45.8%. However, earnings were ahead of the year-ago figure of 22 cents by 45.5%.
Total Revenues
In the quarter under review, Energy Transfer’s total revenues came in at $14,514 million, beating the Zacks Consensus Estimate of $14,291 million by 17.7%. Total revenues were also up 45.4% from the year-ago figure of $9,984 million.
Operational highlights
Total costs and expenses amounted to $12,811 million, up 41.5% from $9,053 million in the year-ago quarter. The increase was primarily due to higher cost of goods sold.
Operating income came in at $1,703 million in the third quarter, up 82.9% from the year-ago figure of $931 million.
Total interest expenses increased 9.2% to $535 million from $490 million a year ago.
Financial Condition
As of Sep 30, 2018, Energy Transfer had current assets of $6,353 million, down from the 2017-end level of $6,528 million.
On Sep 30, 2018, the company had long-term debt (excluding current maturities) of $31,198 million, down from the 2017-end level of $32,687 million.
Performance of Peers
Among other players from the same industry that have reported third-quarter earnings so far, Plains All American Pipeline, L.P. (PAA - Free Report) and ONEOK Inc. (OKE - Free Report) beat the Zacks Consensus Estimate by 16.2% and 5.6%, respectively, while Buckeye Partners L.P. missed the same by 16.2%
Zacks Rank
Energy Transfer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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 >>
Energy Transfer LP (ET - Free Report) reported third-quarter 2018 earnings of 32 cents per unit, lagging the Zacks Consensus Estimate of 59 cents by 45.8%. However, earnings were ahead of the year-ago figure of 22 cents by 45.5%.
Total Revenues
In the quarter under review, Energy Transfer’s total revenues came in at $14,514 million, beating the Zacks Consensus Estimate of $14,291 million by 17.7%. Total revenues were also up 45.4% from the year-ago figure of $9,984 million.
Operational highlights
Total costs and expenses amounted to $12,811 million, up 41.5% from $9,053 million in the year-ago quarter. The increase was primarily due to higher cost of goods sold.
Operating income came in at $1,703 million in the third quarter, up 82.9% from the year-ago figure of $931 million.
Total interest expenses increased 9.2% to $535 million from $490 million a year ago.
Financial Condition
As of Sep 30, 2018, Energy Transfer had current assets of $6,353 million, down from the 2017-end level of $6,528 million.
On Sep 30, 2018, the company had long-term debt (excluding current maturities) of $31,198 million, down from the 2017-end level of $32,687 million.
Performance of Peers
Among other players from the same industry that have reported third-quarter earnings so far, Plains All American Pipeline, L.P. (PAA - Free Report) and ONEOK Inc. (OKE - Free Report) beat the Zacks Consensus Estimate by 16.2% and 5.6%, respectively, while Buckeye Partners L.P. missed the same by 16.2%
Zacks Rank
Energy Transfer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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 >>
Get the latest research report on PAA - FREE
Get the latest research report on OKE - FREE
Get the latest research report on ET - FREE