Energy Transfer (ET) Misses Q3 EPS by 53c

Energy Transfer (NYSE: ET) reported Q3 EPS of ($0.29), $0.53 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $9.96 billion versus the consensus estimate of $10.15 billion.

• ET once again reduced its 2020 growth capital outlook. As a result of project cost savings, the Partnership now expects to invest less than $3.3 billion for the full-year 2020, which is more than $100 million below previous estimates.
• In addition, due to Partnership performance this year and improving market conditions, ET now expects to have full-year results at the high end of its 2020 outlook for Adjusted EBITDA range of $10.2 billion to $10.5 billion.

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

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