Energy Transfer LP (ET) Earnings History
Annual and quarterly earnings data from 2004 to 2025
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ET EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
ET Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 21.8% | 11.4% | 5.9% |
| 2024 | 19.0% | 11.1% | 5.8% |
| 2023 | 17.6% | 10.6% | 5.0% |
| 2022 | 14.8% | 8.6% | 5.3% |
| 2021 | 19.9% | 13.0% | 8.1% |
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Energy Transfer LP (ET) Earnings Overview
As of May 6, 2026, Energy Transfer LP (ET) reported trailing twelve-month net income of $4.90B, reflecting +5.5% year-over-year growth. The company earned $1.34 per diluted share over the past four quarters, with a net profit margin of 5.9%.
Looking at the long-term picture, ET's historical earnings data spans multiple years. The company achieved its highest annual net income of $5.47B in fiscal 2021.
Energy Transfer LP maintains positive profitability with a gross margin of 21.8%, operating margin of 11.4%, and net margin of 5.9%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including EPD ($5.80B net income, 11.1% margin), PAA ($1.44B net income, 1.5% margin), WES ($1.21B net income, 30.4% margin), ET has room to improve margins relative to the peer group. Compare ET vs EPD →
ET Earnings vs Peers
Earnings metrics vs comparable public companies
ET Historical Earnings Data (2004–2025)
22 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.90B | +1.8% | $9.44B | $1.35 | 5.9% | 11.4% |
| 2024 | $4.81B | +22.3% | $9.14B | $1.28 | 5.8% | 11.1% |
| 2023 | $3.94B | -17.3% | $8.29B | $1.09 | 5.0% | 10.6% |
| 2022 | $4.76B | -13.1% | $7.74B | $1.40 | 5.3% | 8.6% |
| 2021 | $5.47B | +944.1% | $8.79B | $1.89 | 8.1% | 13.0% |
| 2020 | -$648M | -118.4% | $2.98B | $-0.24 | -1.7% | 7.7% |
| 2019 | $3.52B | +107.7% | $7.20B | $1.33 | 6.5% | 13.3% |
| 2018 | $1.69B | +77.6% | $5.40B | $1.16 | 3.1% | 10.0% |
| 2017 | $954M | -4.1% | $2.71B | $0.80 | 2.4% | 6.7% |
| 2016 | $995M | -16.3% | $1.85B | $0.92 | 2.7% | 4.9% |
Full ET Stock Analysis
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Start ComparisonET — Frequently Asked Questions
Quick answers to the most common questions about buying ET stock.
Is ET growing earnings?
ET EPS stands at $1.34, with +5.5% growth matching the 5-year CAGR of N/A. TTM net income is $4.9B. Earnings trajectory remains consistent.
What are ET's profit margins?
Energy Transfer LP net margin is +5.9%, with operating margin at +11.4%. Margins sit within typical range for the sector.
How consistent are ET's earnings?
ET earnings data spans 2004-2025. The current earnings trend is +5.5% YoY. Historical data enables comparison across business cycles.