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Energy Transfer Ups Adjusted EBITDA Guidance for 2024

publication date: May 13, 2024
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Image: Energy Transfer’s financials are in much better shape than they were years ago. 

Energy Transfer's cash flow from operations during the first quarter of 2024 was $3.772 while the firm spent $795 million in capital spending, resulting in traditional free cash flow of ~$2.98 billion, far in excess of distributions paid to partners, noncontrolling interests, and redeemable noncontrollable interests. We like Energy Transfer’s EBITDA growth, free cash flow coverage of the distribution, and improved credit quality. The pipeline operator has come a long way in the past decade.


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