Energy Transfer Corporate Presentation
What's New?
روس
ENERGY
TRANSFER
Operational
➤ Entered into non-binding HOA with
TotalEnergies related to term crude oil
offtake from ET's proposed Blue Marlin
Offshore port for 4 million barrels per
month1
➤ NGL transportation and fractionation
volumes both reached new records in
Q3'23
Total NGL exports out of the Nederland
and Marcus Hook Terminals reached a
new record in Q3'23
Crude transportation and terminal
volumes both reached new records in
Q3'23
Financials
➤ Updated 2023 Adjusted EBITDA guidance:
-
Expected Adj. EBITDA: $13.5 - $13.6B2
2023 growth capital guidance:
Expected to be slightly below $2.0B2,3
➤ Adjusted EBITDA:
-
Q3'23: $3.5B
Distributable Cash Flow (DCF):
Q3'23: $2.0B
Excess cash flow after distributions:
- Q3'23: ~$1.0B
Q3'23 Capital Expenditures:
-
Growth: $418mm
Maintenance: $180mm
Announced increase to quarterly cash
distribution to $0.3125 per unit
Strategic
➤ Closed acquisition of Crestwood Equity
Partners on November 3, 2023
In August, ET's Sr. Unsecured debt rating
was upgraded by S&P to BBB with a
stable outlook
Targeting annual distribution growth rate
of 3% to 5%
Expect long-term annual growth capital
run rate to be between $2 billion and
$3 billion
Expect to be at the lower end of 4-4.5x
target leverage ratio range 4 going forward
1.
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Subject to the negotiation and execution of definitive agreements and the satisfaction of other conditions, including Energy Transfer taking a final investment decision
Includes the consolidated operations of Crestwood in November and December 2023
3.
Energy Transfer excluding SUN and USA Compression capital expenditures.
Based on ET's calculation of the Rating Agency leverage ratios
3View entire presentation