Energy Transfer LPETEarnings & Financial Report
Energy Transfer LP is an American company engaged in the pipeline transportation, storage, and terminaling for natural gas, crude oil, natural gas liquids (NGLs), refined products and liquid natural gas, as well as NGL fractionation. It is a publicly traded limited partnership organized under Delaware state laws and headquartered in Dallas, Texas. It was founded in 1996 by Ray Davis and Kelcy Warren, who remains Executive Chairman.
ET Q3 2025 Key Financial Metrics
Revenue
$20.0B
Gross Profit
$5.4B
Operating Profit
$2.2B
Net Profit
$1.0B
Gross Margin
27.0%
Operating Margin
10.8%
Net Margin
5.1%
YoY Growth
-3.9%
Financial Flow
Energy Transfer LP Q3 2025 Financial Summary
Energy Transfer LP reported revenue of $20.0B for Q3 2025, with a net profit of $1.0B (5.1% margin). Cost of goods sold was $14.6B, operating expenses totaled $3.2B.
Key Financial Metrics
| Total Revenue | $20.0B |
|---|---|
| Net Profit | $1.0B |
| Gross Margin | 27.0% |
| Operating Margin | 10.8% |
| Report Period | Q3 2025 |
Energy Transfer LP Annual Revenue by Year
Energy Transfer LP annual revenue history includes year-by-year totals (for example, 2024 revenue was $82.7B).
| Year | Annual Revenue |
|---|---|
| 2024 | $82.7B |
| 2023 | $78.6B |
| 2022 | $89.9B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.53B | $21.63B | $20.73B | $20.77B | $19.54B | $21.02B | $19.24B | $19.95B |
| YoY Growth | 0.2% | 13.9% | 13.1% | 0.2% | -4.8% | -2.8% | -7.2% | -3.9% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $113.70B | $115.79B | $121.34B | $124.43B | $125.38B | $126.42B | $125.02B | $129.33B |
| Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | $43.94B | $43.79B | $45.47B | $46.18B | $46.02B | $46.16B | $45.53B | $45.34B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.30B | $3.77B | $2.27B | $2.87B | $2.59B | $2.92B | $2.76B | $2.57B |
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