Energy Transfer LP — Form 8-K

Energy Transfer LP reported Q2 2026 net income of $2.09B (vs. $1.16B in Q2 2025) and Adjusted EBITDA of $5.07B (31% increase). The company raised full-year 2026 Adjusted EBITDA guidance to $18.8B–$19.1B from $18.2B–$18.6B. Distributable Cash Flow grew 32% to $2.59B. The company increased its quarterly distribution by >3% to $0.34/unit (19th consecutive increase) and issued $1.75B in junior subordinated notes ($650M Series 2026A at 6.55%, $1.1B Series 2026B at 6.7%, both due 2057). Major growth drivers include Hugh Brinson Pipeline now in commercial service (1.5 Bcf/d capacity by Sept 1), fully subscribed Nederland export expansion (+240k bpd ethane, +55k bpd LPG), and long-term NGL contracts for ~300k bpd.