Energy Transfer stock: Q3 EBITDA jumps 31%, outlook raised

Published on 11/10/2026 at 17:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Energy Transfer posted stronger quarterly earnings and raised its full-year outlook. Volume growth supported the partnership's operating results.

Energy Transfer raises its earnings outlook

Management lifted the full-year adjusted EBITDA outlook after broad-based volume growth.
Higher pipeline utilization and new infrastructure supported several business segments.
The partnership announced its twentieth consecutive quarterly cash distribution increase.

Energy Transfer stock, Q3 2026 earnings, adjusted EBITDA, natural gas infrastructure, cash distribution, Illustration mit AI erstellt.

Energy Transfer reported stronger third-quarter results on November 3, 2026, and lifted its full-year outlook. The partnership said adjusted EBITDA rose 31 percent year over year to 5.03 billion US dollars for the quarter ended September 30, according to its third-quarter results release.

Guidance moves higher

Energy Transfer now expects full-year adjusted EBITDA of 19.7 billion to 19.9 billion US dollars, compared with its previous range of 18.8 billion to 19.1 billion US dollars. The midpoint increased by 850 million US dollars from the prior outlook. Management also expects growth capital spending of 5.4 billion to 5.6 billion US dollars in 2026 and about 7 billion US dollars in 2027.

Adjusted EBITDA is a non-GAAP measure used by the partnership to assess operating performance. Distributable cash flow attributable to partners, as adjusted, rose to 2.52 billion US dollars from 1.90 billion US dollars a year earlier.

Volume growth broadens

Intrastate transportation volumes rose 14 percent to a partnership record, while midstream gathered volumes increased 6 percent. NGL transportation volumes advanced 6 percent, NGL exports rose 9 percent and fractionation volumes gained 5 percent.

Energy Transfer also highlighted new growth projects. Phase I of the Hugh Brinson Pipeline entered full service ahead of schedule, while the partnership reached a positive final investment decision on the South Mississippi Pipeline Project. The project is expected to have capacity of 1.2 billion cubic feet per day and enter service in 2030, subject to the ongoing open season and final sizing.

Distribution remains a focus

Energy Transfer announced a quarterly cash distribution of 0.3425 US dollars per common unit for the quarter ended September 30. The payment, scheduled for November 19, marks the partnership's twentieth consecutive quarterly increase.