Energy Transfer (NYSE: ET) reported Q4 EPS of $0.38, $0.02 better than the analyst estimate of $0.36.

• Net income attributable to partners of $1.01 billion, reflecting an increase over the prior period primarily due to higher operating income.
• Adjusted EBITDA of $2.81 billion, up 5 percent from the fourth quarter of 2018.
• Distributable Cash Flow attributable to partners of $1.55 billion, up 2 percent from the fourth quarter of 2018.
• Distribution coverage ratio of 1.88x, yielding excess coverage of $725 million of Distributable Cash Flow attributable to partners in excess of distributions.
• Provides 2020 outlook for Adjusted EBITDA of $11.0 billion to $11.4 billion.
• 2020 growth capital expenditures outlook, updated to include $300 million of capital expenditures related to the acquisition of SemGroup Corporation (“SemGroup”), expected to range from $3.9 billion to $4.1 billion.
• Reduces expected annual run-rate growth capital expenditures for 2021 and beyond to $2 billion to $2.5 billion based on increased project returns threshold.

For earnings history and earnings-related data on Energy Transfer (ET) click here.