Energy Transfer LP ET reported third-quarter 2018 earnings of 32 cents per unit, lagging the Zacks Consensus Estimate of 59 cents by 45.8%. However, earnings were ahead of the year-ago figure of 22 cents by 45.5%. Total Revenues
In the quarter under review, Energy Transfer's total revenues came in at $14,514 million, beating the Zacks Consensus Estimate of $14,291 million by 17.7%. Total revenues were also up 45.4% from the year-ago figure of $9,984 million. Operational highlights
Total costs and expenses amounted to $12,811 million, up 41.5% from $9,053 million in the year-ago quarter. The increase was primarily due to higher cost of goods sold.
Operating income came in at $1,703 million in the third quarter, up 82.9% from the year-ago figure of $931 million.
Total interest expenses increased 9.2% to $535 million from $490 million a year ago.
Energy Transfer LP Price, Consensus and EPS Surprise
Energy Transfer LP Price, Consensus and EPS Surprise | Energy Transfer LP Quote
As of Sep 30, 2018, Energy Transfer had current assets of $6,353 million, down from the 2017-end level of $6,528 million.
On Sep 30, 2018, the company had long-term debt (excluding current maturities) of $31,198 million, down from the 2017-end level of $32,687 million.
Performance of Peers
Among other players from the same industry that have reported third-quarter earnings so far, Plains All American Pipeline, L.P. PAA and ONEOK Inc. OKE beat the Zacks Consensus Estimate by 16.2% and 5.6%, respectively, while Buckeye Partners L.P. BPL missed the same by 16.2%
Energy Transfer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ONEOK, Inc. (OKE): Free Stock Analysis Report Plains All American Pipeline, L.P. (PAA): Free Stock Analysis Report Buckeye Partners L.P. (BPL): Free Stock Analysis Report Energy Transfer Equity, L.P. (ET): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research