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Energy Transfer LP: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

DALLAS (AP) _ Energy Transfer LP (ET) on Monday reported a first-quarter loss of $855 million, after reporting a profit in the same period a year earlier.

The Dallas-based company said it had a loss of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The energy-related services provider posted revenue of $11.63 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $14.02 billion.

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Energy Transfer LP shares have decreased 40% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.67, a fall of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ET at https://www.zacks.com/ap/ET