Energy Transfer LP: 4Q Earnings Snapshot
DALLAS (AP) _ Energy Transfer LP (ET) on Wednesday reported fourth-quarter profit of $632 million.
On a per-share basis, the Dallas-based company said it had net income of 26 cents.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The energy-related services provider posted revenue of $13.57 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $14.85 billion.
For the year, the company reported profit of $1.69 billion, or $1.15 per share. Revenue was reported as $54.09 billion.
Energy Transfer LP shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.51, a fall of 6 percent in the last 12 months.