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Energy Transfer ET Q1 2026 earnings

Reported May 5, 2026 · Before market open

Revenue$27.8BBeat by $2.0B
EPS$0.35Miss by $0.05
Revenue estimate$25.8B
EPS estimate$0.40

Next report

Nov 3, 2026 (in a month)
Revenue estimate$30.8B
EPS estimate$0.40

Financials

Q1 2026

Income statement

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Revenue$27.8B+32.1%
Gross profit$6.6B+21.5%
Operating income$3.0B+19.8%
Net income$1.3B-5.2%
EPS (diluted)$0.35-2.8%

Balance sheet

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Cash & equivalents$951.0M+110%
Total debt$71.1B+17.3%
Total assets$147.48B+16.7%

Cash flow

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Operating cash flow$3.4B+15.8%
CapEx$1.9B+56.5%
Free cash flow$1.5B-13.6%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$66.4B+4.1%
Enterprise value$136.55B+10.2%
P/E15.2×+2.2×
P/S0.7×-0.1×

Profitability

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Gross margin25.2%-0.6pp
Operating margin10.3%-1.0pp
Net margin4.7%-1.2pp
FCF margin4.2%-3.2pp

Returns & leverage

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Current ratio1.2×0.0×

Segments

By segment

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Investment in Sunoco LP$10.7B+106%
Crude oil transportation and services$7.8B+25.0%
NGL and refined products transportation and services$6.7B-3.4%
Midstream$3.0B-16.7%
Intrastate transportation and storage$1.2B-10.7%

By product

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NGL sales$5.1B-9.1%
Natural gas sales$1.5B-6.5%

FAQ

When did Energy Transfer report Q1 2026 earnings?
Energy Transfer (ET) reported Q1 2026 earnings on May 5, 2026 before market open.
What were Energy Transfer's Q1 2026 revenue and EPS?
Energy Transfer reported revenue of $27.8B and eps of $0.35 for Q1 2026.
Did Energy Transfer beat estimates in Q1 2026?
Revenue beat the consensus estimate of $25.8B by $2.0B. EPS missed the consensus estimate of $0.40 by $0.05.
How did Energy Transfer's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 32.1% from $21.0B a year earlier and eps declined 2.8% from $0.36.
Where can I find Energy Transfer's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001276187-26-000021) and the 10-Q periodic report (0001276187-26-000026) directly on SEC EDGAR. The filing index links above go to sec.gov.