Energy Transfer LP (ET) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 27.77B | 22.41B | 19.95B | 19.24B | 21.02B | 19.54B | 20.77B | 20.73B | 21.63B | 20.53B | 20.74B | 18.32B | 19B | 20.5B | 22.94B | 25.95B | 20.49B | 18.66B | 16.66B | 15.1B |
| Revenue Growth % | 32.12% | 14.68% | -3.94% | -7.17% | -2.82% | -4.83% | 0.16% | 13.15% | 13.87% | 0.15% | -9.59% | -29.39% | -7.3% | 9.88% | 37.66% | 71.81% | 20.57% | 85.94% | 67.39% | 105.79% |
| Cost of Goods Sold | 21.15B | 16.63B | 14.56B | 16.56B | 16.87B | 15.44B | 16.97B | 16.84B | 17.73B | 16.8B | 17.16B | 15.19B | 15.63B | 17.31B | 19.49B | 22.57B | 17.09B | 15.61B | 14.09B | 12.37B |
| COGS % of Revenue | 76.16% | 74.21% | 72.98% | 86.05% | 80.26% | 79% | 81.7% | 81.22% | 82% | 81.82% | 82.76% | 82.89% | 82.31% | 84.42% | 84.96% | 87.01% | 83.39% | 83.65% | 84.53% | 81.93% |
| Gross Profit | 6.62B | 5.78B | 5.39B | 2.69B | 4.15B | 4.1B | 3.8B | 3.89B | 3.89B | 3.73B | 3.58B | 3.13B | 3.36B | 3.19B | 3.45B | 3.37B | 3.4B | 3.05B | 2.58B | 2.73B |
| Gross Margin % | 23.84% | 25.79% | 27.02% | 13.95% | 19.74% | 21% | 18.3% | 18.78% | 18% | 18.18% | 17.24% | 17.11% | 17.69% | 15.58% | 15.04% | 12.99% | 16.61% | 16.35% | 15.47% | 18.07% |
| Gross Profit Growth % | 59.57% | 40.87% | 41.82% | -31.03% | 6.57% | 9.94% | 6.35% | 24.22% | 15.89% | 16.84% | 3.62% | -7% | -1.29% | 4.69% | 33.82% | 23.49% | -34.88% | 14.23% | -8.13% | 11.34% |
| Operating Expenses | 3.64B | 3.41B | 3.24B | 257M | 1.66B | 1.82B | 1.62B | 1.59B | 1.51B | 1.57B | 1.34B | 1.3B | 1.3B | 1.39B | 1.48B | 1.26B | 1.56B | 1.36B | 1.14B | 1.13B |
| OpEx % of Revenue | 13.1% | 15.22% | 16.24% | 1.34% | 7.89% | 9.33% | 7.8% | 7.69% | 7% | 7.63% | 6.47% | 7.09% | 6.83% | 6.77% | 6.44% | 4.84% | 7.6% | 7.3% | 6.85% | 7.5% |
| Selling, General & Admin | 2.42B | 205M | 268M | 257M | 288M | 448M | 297M | 332M | 260M | 409M | 234M | 228M | 238M | 328M | 361M | 211M | 230M | 372M | 198M | 184M |
| SG&A % of Revenue | 8.7% | 0.91% | 1.34% | 1.34% | 1.37% | 2.29% | 1.43% | 1.6% | 1.2% | 1.99% | 1.13% | 1.24% | 1.25% | 1.6% | 1.57% | 0.81% | 1.12% | 1.99% | 1.19% | 1.22% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 2.98B | 2.37B | 2.15B | 2.43B | 2.49B | 2.28B | 2.18B | 2.3B | 2.38B | 2.17B | 2.23B | 1.83B | 2.06B | 1.81B | 1.97B | 2.11B | 1.85B | 1.69B | 1.44B | 1.6B |
| Operating Margin % | 10.74% | 10.58% | 10.78% | 12.62% | 11.85% | 11.66% | 10.5% | 11.09% | 11% | 10.54% | 10.77% | 10.02% | 10.86% | 8.81% | 8.6% | 8.14% | 9.01% | 9.05% | 8.62% | 10.58% |
| Operating Income Growth % | 19.75% | 3.99% | -1.38% | 5.66% | 4.66% | 5.27% | -2.33% | 25.23% | 15.42% | 19.88% | 13.18% | -13.16% | 11.7% | 6.93% | 37.3% | 32.31% | -54.63% | 26.14% | 488.93% | 19.54% |
| EBITDA | 4.57B | 3.5B | 3.59B | 3.81B | 3.86B | 3.65B | 3.5B | 3.51B | 3.63B | 3.32B | 3.34B | 2.9B | 3.12B | 2.87B | 3B | 3.16B | 2.87B | 2.67B | 2.38B | 2.54B |
| EBITDA Margin % | 16.44% | 15.6% | 18% | 19.81% | 18.35% | 18.69% | 16.87% | 16.94% | 16.8% | 16.18% | 16.1% | 15.81% | 16.43% | 13.98% | 13.09% | 12.18% | 14.03% | 14.31% | 14.28% | 16.8% |
| EBITDA Growth % | 18.35% | -4.33% | 2.45% | 8.57% | 6.16% | 9.93% | 4.94% | 21.24% | 16.44% | 15.95% | 11.22% | -8.33% | 8.59% | 7.38% | 26.18% | 24.52% | -42.78% | 15.94% | 105.88% | 11.66% |
| D&A (Non-Cash Add-back) | 1.58B | 1.13B | 1.44B | 1.38B | 1.37B | 1.37B | 1.32B | 1.21B | 1.25B | 1.16B | 1.11B | 1.06B | 1.06B | 1.06B | 1.03B | 1.05B | 1.03B | 980M | 943M | 940M |
| EBIT | 2.11B | 2.37B | 2.27B | 2.4B | 2.57B | 2.39B | 2.35B | 2.98B | 2.51B | 2.17B | 2.23B | 1.84B | 2.06B | 1.81B | 2.06B | 2.11B | 2.15B | 1.7B | 1.44B | 1.6B |
| Net Interest Income | -947M | -760M | -890M | -865M | -809M | -807M | -828M | -762M | -728M | -686M | -632M | -641M | -619M | -592M | -577M | -578M | -559M | -554M | -558M | -566M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 947M | 760M | 890M | 865M | 809M | 807M | 828M | 762M | 728M | 686M | 632M | 641M | 619M | 592M | 577M | 578M | 559M | 554M | 558M | 566M |
| Other Income/Expense | -872M | -760M | -772M | -891M | -730M | -696M | -658M | -79M | -599M | -551M | -1.11B | -494M | -544M | -324M | -569M | -405M | -368M | -508M | -453M | -607M |
| Pretax Income | 2.11B | 1.61B | 1.38B | 1.54B | 1.76B | 1.58B | 1.52B | 2.22B | 1.78B | 1.61B | 1.12B | 1.34B | 1.52B | 1.48B | 1.4B | 1.71B | 1.48B | 1.18B | 984M | 990M |
| Pretax Margin % | 7.6% | 7.18% | 6.91% | 7.99% | 8.38% | 8.1% | 7.33% | 10.7% | 8.23% | 7.86% | 5.42% | 7.32% | 7.99% | 7.23% | 6.12% | 6.58% | 7.21% | 6.33% | 5.9% | 6.56% |
| Income Tax | 135M | 15M | 87M | 79M | 41M | 136M | 89M | 227M | 89M | 47M | 77M | 108M | 71M | 45M | 82M | 86M | -9M | -50M | 77M | 82M |
| Effective Tax Rate % | 6.4% | 0.93% | 6.31% | 5.14% | 2.33% | 8.59% | 5.84% | 10.23% | 5% | 2.91% | 6.85% | 8.05% | 4.68% | 3.04% | 5.84% | 5.04% | -0.61% | -4.23% | 7.83% | 8.28% |
| Net Income | 1.98B | 1.46B | 1.02B | 1.1B | 1.32B | 1.08B | 1.18B | 1.31B | 1.24B | 1.33B | 584M | 911M | 1.11B | 1.16B | 1.01B | 1.33B | 1.27B | 820M | 634M | 625M |
| Net Margin % | 7.12% | 6.51% | 5.11% | 5.71% | 6.29% | 5.51% | 5.7% | 6.34% | 5.73% | 6.46% | 2.82% | 4.97% | 5.86% | 5.63% | 4.39% | 5.11% | 6.19% | 4.4% | 3.8% | 4.14% |
| Net Income Growth % | 49.36% | 35.56% | -13.86% | -16.36% | 6.69% | -18.84% | 102.57% | 44.24% | 11.41% | 14.89% | -41.95% | -31.3% | -12.29% | 40.85% | 58.68% | 112.16% | -61.37% | 28.93% | 181.07% | 77.05% |
| Net Income (Continuing) | 1.98B | 1.59B | 1.29B | 1.46B | 1.72B | 1.45B | 1.43B | 1.99B | 1.69B | 1.57B | 1.05B | 1.23B | 1.45B | 1.44B | 1.32B | 1.62B | 1.49B | 1.23B | 907M | 908M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 15.53B | 14.89B | 12.46B | 11.08B | 11.26B | 11.31B | 11.36B | 11.57B | 8.53B | 8.03B | 7.93B | 7.9B | 8.01B | 8.13B | 8.23B | 8.67B | 8.82B | 8.82B | 8.72B | 8.79B |
| EPS (Diluted) | 0.35 | 0.40 | 0.27 | 0.32 | 0.36 | 0.29 | 0.32 | 0.35 | 0.32 | 0.37 | 0.15 | 0.25 | 0.32 | 0.34 | 0.29 | 0.39 | 0.37 | 0.29 | 0.20 | 0.20 |
| EPS Growth % | -2.78% | 37.93% | -15.63% | -8.57% | 12.5% | -21.62% | 113.33% | 40% | 0% | 8.82% | -48.28% | -35.9% | -13.51% | 17.24% | 45% | 95% | -69.42% | 52.63% | 168.97% | 53.85% |
| EPS (Basic) | 0.35 | 0.40 | 0.27 | 0.32 | 0.37 | 0.29 | 0.33 | 0.35 | 0.32 | 0.37 | 0.15 | 0.25 | 0.32 | 0.34 | 0.29 | 0.40 | 0.38 | 0.29 | 0.20 | 0.20 |
| Diluted Shares Outstanding | 3.46B | 3.65B | 3.64B | 3.45B | 3.45B | 3.45B | 3.44B | 3.39B | 3.39B | 3.3B | 3.17B | 3.15B | 3.12B | 3.1B | 3.11B | 3.11B | 3.1B | 2.83B | 2.72B | 2.72B |
| Basic Shares Outstanding | 3.44B | 3.65B | 3.64B | 3.43B | 3.43B | 3.43B | 3.42B | 3.37B | 3.37B | 3.28B | 3.14B | 3.13B | 3.1B | 3.09B | 3.09B | 3.09B | 3.08B | 2.82B | 2.71B | 2.7B |
| Dividend Payout Ratio | - | 83.63% | 112.86% | 111.1% | 85.64% | 110.49% | 92.98% | 91.7% | 90.97% | 84.7% | 176.2% | 120.09% | 89.94% | 80.43% | 77.04% | 55.43% | 47.91% | 62.8% | 76.34% | 78.56% |