Energy Transfer LP reported significant financial performance for the third quarter and the first nine months of 2024, showcasing a robust increase in revenues and net income compared to the same periods in 2023. For the three months ended September 30, 2024, total revenues reached $20,772 million, a slight increase from $20,739 million in the prior year. For the nine months, revenues rose to $63,130 million, up from $58,054 million in 2023.

Net income for the third quarter was $1,434 million, a 37% increase from $1,047 million in 2023. For the nine-month period, net income also increased by 37%, totaling $5,118 million compared to $3,727 million in the previous year. This growth was attributed to a $598 million gain from the sale of Sunoco LP's West Texas assets and the absence of a $625 million non-operating litigation-related loss recognized in the prior period.

Adjusted EBITDA for the third quarter was $3,959 million, up from $3,541 million in 2023, while for the nine months, it increased to $11,599 million from $10,096 million. The rise in Adjusted EBITDA was driven by higher volumes in the midstream segment and contributions from recently acquired assets, including WTG Midstream Holdings LLC and NuStar Energy L.P.

Energy Transfer's total assets as of September 30, 2024, amounted to $124,429 million, an increase from $113,698 million at the end of 2023. The company’s cash and cash equivalents also rose to $299 million from $161 million. However, total liabilities increased significantly, with long-term debt rising to $58,995 million from $51,380 million.

Strategically, Energy Transfer completed the acquisition of WTG Midstream Holdings LLC on July 15, 2024, for a total consideration of $3.11 billion, which included cash and newly issued common units. This acquisition added approximately 6,000 miles of gas gathering pipelines and eight gas processing plants to its portfolio. Additionally, the company acquired NuStar Energy L.P. in May 2024, further expanding its infrastructure with 9,500 miles of pipeline and 63 terminal and storage facilities.

The company also reported a quarterly distribution of $0.3225 per unit for the quarter ended September 30, 2024. As of September 30, 2024, Energy Transfer had $880 million remaining available for repurchase under its buyback program, with no common units repurchased during the nine months ended September 30, 2024.

Overall, Energy Transfer LP's financial results reflect a strong operational performance and strategic growth through acquisitions, positioning the company favorably in the energy sector.