Energy Transfer LP Reports Strong Second-Quarter Profit
Company Earnings Surge on Robust Demand
August 7, 2024
DALLAS (AP) - Energy Transfer LP (NYSE: ET) announced strong financial results for the second quarter of 2024 on Wednesday, August 7. The Dallas-based energy infrastructure company reported a net income of $1.31 billion, building on its solid performance in recent quarters.
On a per-share basis, Energy Transfer earned $0.86, exceeding analysts' estimates. The company attributed its strong earnings to robust demand for its midstream services, particularly natural gas transportation and storage. Energy Transfer benefited from increased production and consumption of natural gas, supported by factors such as increased power generation and demand for heating fuel.
In a statement, Energy Transfer's CEO, Thomas Long, highlighted the company's focus on operational excellence and cost discipline. He added that the company remains well-positioned to capitalize on the growing demand for energy infrastructure.
Energy Transfer's strong second-quarter earnings further underscore the company's financial strength and operational resilience. As the global energy landscape continues to evolve, Energy Transfer's strategic investments and unwavering commitment to delivering safe and efficient energy solutions position it well for sustainable growth and success.
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