Energy Transfer Q3 2026 Earnings: Revenue Surges 86%, EBITDA Beats
As seen on the 24/7 Wall St. homepage on November 3, 2026.
The FY26 adjusted EBITDA guide above consensus is what income holders should care about, since $2.52 billion in distributable cash flow funds the payout regardless of the EPS miss.
ENERGY TRANSFER $ET Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $37.1B (Est. $31.61B) 🟢; +86% YoY 🔹 EPS: $0.33 (Est. $0.40) 🔴; +18% YoY 🔹 Adj. EBITDA: $5.03B (Est. $4.62B) 🟢; +31% YoY 🔹 Distributable Cash Flow: $2.52B FY26 Guide: 🔹 Adj. EBITDA: $19.70B-$19.90B (Est. $19.23B) https://t.co/F4Ix0Ym42J
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Energy Transfer's third-quarter revenue of $37.1 billion ran well ahead of the consensus estimate, a beat wide enough to draw attention even from investors who typically focus on midstream cash metrics rather than top-line figures.
Adjusted EBITDA of $5.03 billion topped estimates, which matters more to unitholders than the revenue headline because EBITDA is what funds the distribution pipeline.
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EPS missed expectations, but distributable cash flow came in at $2.52 billion for the quarter, the figure that directly supports the payout to limited partners and the more relevant measure of whether the distribution is secure.
Full-year 2026 adjusted EBITDA guidance of $19.70 billion to $19.90 billion clears the prior consensus, signaling management expects the stronger quarterly performance to carry through the rest of the year.
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