The Fortune 500 natural gas and propane company, Energy Transfer Partners, on Wednesday announced their Q3 2018 earnings report where it reported a Q3 GAAP EPS of $0.32. missing analysts estimates by $0.10.
But the adjusted EBITDA of ET totaled a record $2.58 billion, while revenues jumped 45% on a y-o-y basis to $14.5 billion for the quarter, beating the estimate by $1.37 billion. The adjusted EBIDTA was up more than 30% with an increase of $628 million compared to the three months ended September 30, 2017.
ET's net income stood at $371 million, up ~47% with an increase of $119 million compared to the three months ended September 30, 2017. Like the adjusted EBIDTA, distributable cash flow attributable to partners increased by 27% on a y-o-y basis to a record $1.38 billion, with distribution coverage of 1.73x compared to 1.59x in the year-ago quarter.
The company in its comments added that sustained growth in all of the Partnership’s core operations, with record operating performance in its crude, NGL, interstate and midstream businesses helped them in achieving such results. Separately, they also announced that their subsidiary Lone Star NGL has embarked on the path of expanding its pipeline network and will add another 352-mile pipeline to the existing one, a seventh natural gas liquids fractionation facility at Mont Belvieu, Tex., scheduled to be operational in Q1 2020.