Energy Transfer Q3 Adjusted EBITDA rises 31% to $5.03 billion; raises 2026 outlook
Energy Transfer reported third-quarter 2026 net income attributable to partners of $1.21 billion, up from $1.02 billion a year earlier, or $0.33 per common unit compared with $0.28. Adjusted EBITDA rose 31% to $5.03 billion, Distributable Cash Flow attributable to partners, as adjusted, rose 33% to $2.52 billion, and the company raised its 2026 Adjusted EBITDA forecast to $19.7 billion to $19.9 billion from $18.8 billion to $19.1 billion. Higher cash flow supports the quarterly distribution of $0.3425 per common unit, an increase of more than 3% and the twentieth consecutive increase.
Key points
- Net income attributable to partners was $1.21 billion, or $0.33 per basic common unit, versus $1.02 billion, or $0.28, in third quarter 2025.
- 2026 Adjusted EBITDA guidance was raised to $19.7 billion to $19.9 billion from $18.8 billion to $19.1 billion.
- In October 2026, the company announced the acquisition of Vaquero Midstream LLC for about $2.6 billion, including cash and equity, expected to close in fourth quarter 2026 subject to regulatory approval.
- The October 2026 quarterly cash distribution is $0.3425 per common unit, an increase of more than 3% from third quarter 2025.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.