ENERGY TRANSFER LP — Earnings
Most recent reported period: FY2025 (Q4) (filed for period ending 2025-12-31) · sourced from SEC EDGAR
Next earnings (estimated): Wed, April 1, 2026 — 28 days overdue (likely already filed but EDGAR cache cold). Anchored to latest quarter-end + 91 days. Analyst-confirmed dates land in a follow-up wave.
YoY = vs same quarter prior year (seasonality-adjusted)
Recent earnings · last 8 quarters
| Quarter end | Revenue | YoY | Net Income | YoY | Op. Margin |
|---|---|---|---|---|---|
| 2025-12-31 | $25.32B | ↑+29.6% | $928M | ↓-13.8% | 8.2% |
| 2025-09-30 | $19.95B | ↓-3.9% | $1.02B | ↓-13.9% | 10.8% |
| 2025-06-30 | $19.24B | ↓-7.2% | $1.16B | ↓-11.5% | 12.0% |
| 2025-03-31 | $21.02B | ↓-2.8% | $1.32B | ↑+6.7% | 11.9% |
| 2024-12-31 | $19.54B | ↓-4.8% | $1.08B | ↓-18.8% | 11.7% |
| 2024-09-30 | $20.77B | ↑+0.2% | $1.18B | ↑+102.6% | 10.5% |
| 2024-06-30 | $20.73B | ↑+13.1% | $1.31B | ↑+44.2% | 11.1% |
| 2024-03-31 | $21.63B | ↑+13.9% | $1.24B | ↑+11.4% | 11.0% |
Analyst consensus estimates (EPS / Revenue) and implied move from options will land in a follow-up wave. For now, YoY-vs-prior-year-quarter is the surprise proxy.
Last earnings · FY2025 (Q4)
Revenue
$25.32B
↑+29.6% +$5.78B YoY
Net Income
$928M
↓-13.8% -$149M YoY
Earnings surprise · last 8 quarters
YoY % change · proxy for analyst surprise until estimates landEPS history · last 10 fiscal years
diluted, GAAP, annualNote: EPS reflects WEIGHTED-AVERAGE diluted shares for each fiscal year. Pre-stock- split values can blow up the early bars if SEC's XBRL data isn't split-adjusted — flagged as a known limitation; cumulative split-adjustment is a follow-up.
Margin trends · 67 quarters
margin trajectory tells the operating-leverage storyGross Margin↑+2.3pts
14.1%
Operating Margin↓-3.5pts
8.2%
Net Margin↓-1.8pts
3.7%
Go deeper
ET Sankey — flow of dollars
See how revenue waterfalls through every line item to net income for the latest reported quarter, with prior-period comparison.
Open SankeyET Key Metrics — EPS, ROE, ROIC
10 CFA-grade fundamental ratios — EPS, BVPS, ROE, ROA, ROIC, Debt/Equity, Current Ratio. Compare across years.
Open Key Metrics