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Energy Transfer LP: Q1 Earnings Snapshot

Energy Transfer LP (ET) on Thursday reported first-quarter net income of $3.29 billion, after reporting a loss in the same period a year earlier.

The Dallas-based company said it had net income of $1.21 per share. Earnings, adjusted for one-time gains and costs, came to $1.14 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The energy-related services provider posted revenue of $17 billion in the period.

Energy Transfer LP shares have increased 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.20, an increase of 21% in the last 12 months.

Read More: Energy Transfer LP: Q1 Earnings Snapshot

2021-05-06 18:27:00

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