Energy Transfer Equity, L.P.ETE reported first-quarter 2018 earnings of 42 cents per unit, lagging the Zacks Consensus Estimate of 46 cents by 8.7%. However, the bottom line improved by 82.6% compared with the year-ago figure of 23 cents.
Total Revenues
In the quarter under review, Energy Transfer Equity's total revenues came in at $11,882 million, surpassing the Zacks Consensus Estimate of $11,053 million by 7.5%. The top line declined 23% from the year-ago- quarter.
Energy Transfer Equity, L.P. Price, Consensus and EPS Surprise
Energy Transfer Equity, L.P. Price, Consensus and EPS Surprise | Energy Transfer Equity, L.P. Quote
Operational Highlights
In the first quarter, the company spent $9,245 million on cost of product sold, up 23.1% from the year-ago figure of $7,510 million.
Total operating expenses amounted to $724 million, up 20.4% compared with $601 million in the prior-year quarter.
Total costs and expenses amounted to $10,782 million, up 21.1% compared with $8,904 million a year ago.
Total interest expenses dipped 1.5% to $466 million from $473 million a year ago.
Operating income came in at $1,100 million in the reported quarter, up 45.3% from the year-ago tally of $757 million.
Financial Condition
As of Mar 31, 2018, Energy Transfer Equity had long-term debt (less current maturities) of $41,779 million, down from the 2017-end level of $43,671 million.
Zacks Rank
Energy Transfer Equity currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Other Oil & Gas Pipeline Releases
Enable Midstream Partners, LP ENBL reported adjusted earnings of 24 cents per share in first-quarter fiscal 2018, beating the Zacks Consensus Estimate of 22 cents.
Enterprise Products Partners L.P. EPD first-quarter 2018 adjusted earnings came in at 39 cents per share, surpassing the Zacks Consensus Estimate of 38 cents.
Summit Midstream Partners, LP. SMLP first-quarter 2018 adjusted earnings came in at 12 cents per share, outpacing the consensus mark of 7 cents by 71.4%.
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Energy Transfer Equity, L.P. (ETE): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
