Energy Transfer (ET) Q4 FY25 earnings call

Earnings call· Dec 2025 (Q4 FY25)· Energy· Feb 17, 2026

Source: earnings call transcript

Energy Transfer delivered a record-setting year for Adjusted EBITDA in FY25, driven by strong operational performance and record volumes across its NGL, midstream, and crude segments. The company is aggressively executing on a substantial organic growth capital program, particularly in natural gas infrastructure to support power generation and data center demand, and NGL export capabilities. Management remains focused on capital discipline and maintaining leverage targets while pursuing high-return projects and a consistent distribution growth rate.

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ET operating KPIs by quarter

ET operating KPIs stated on its earnings calls, by fiscal quarter
KPI	This call Dec 2025 Q4 FY25	Jun 2026 Q2 FY26	Change vs prior quarter
Storage capacity	230 Bcf+ In addition to our extensive pipeline systems, we have over 230 Bcf of storage to support the market demands of our customers. Source: earnings call transcript	237 Bcf We have 237 Bcf of storage in 6 states in the United States. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.