Energy Transfer (ET) crushes Q2 2026 earnings with a 60% EPS beat
As seen on the 24/7 Wall St. homepage on August 4, 2026.
Data center and power generation gas demand is now showing up in the numbers: management lifted full-year adjusted EBITDA guidance to $18.8 billion to $19.1 billion. More gas pipeline project announcements are due later this year.
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Energy Transfer reported Q2 2026 earnings per share of $0.59, well above the $0.37 consensus estimate — a beat of roughly 60%. Revenue came in at $34.3 billion, topping estimates of $28.9 billion by nearly 19%. The quarter stands out in the context of the past two years: ET had missed or just matched expectations in several recent periods, including Q3 2025 and Q1 2026, making this the partnership's strongest beat in that stretch by a wide margin.
The driver management highlighted was data center and power generation demand for natural gas, and the numbers back that up. Off the strength of the quarter, Energy Transfer raised its full-year adjusted EBITDA guidance to a range of $18.8 billion to $19.1 billion. That upward revision signals confidence that the demand tailwind is not a one-quarter anomaly.
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Looking ahead, management indicated that additional gas pipeline project announcements are expected later this year, suggesting the partnership is moving to capture more of that infrastructure build-out. Investors will be watching both the pace of those project disclosures and whether gas demand from the power sector continues to translate into sustained earnings momentum.
Mentioned: ET