DALLAS, TEXAS — November 9th, 2009 — VIew Accompanying Charts
Energy Transfer Partners, L.P. (NYSE:ETP) today reported EBITDA, as adjusted, distributable cash flow, and net income for the quarter ended September 30, 2009. EBITDA, as adjusted, for the three months ended September 30, 2009 totaled $281.8 million, a decrease of $51.0 million from the three months ended September 30, 2008. Distributable cash flow for the three months ended September 30, 2009 totaled $155.6 million, a decrease of $54.3 million from the three months ended September 30, 2008. Net income for the three months ended September 30, 2009 totaled $72.5 million, a decrease of $148.6 million from the three months ended September 30, 2008. The decreases in these metrics between the periods were primarily attributable to the impacts of lower natural gas prices and weaker price differentials mainly across Texas.
For the nine months ended September 30, 2009, EBITDA, as adjusted, totaled $1.03 billion, a decrease of $34.9 million from the nine months ended September 30, 2008. Distributable cash flow for the nine months ended September 30, 2009 was $731.7 million, a decrease of $77.5 million from the nine months ended September 30, 2008. Net income for the nine months ended September 30, 2009 totaled $530.4 million, a decrease of $184.7 million from the nine months ended September 30, 2008.
ETP also announced that it has filed its quarterly report on Form 10-Q for the quarter ended September 30, 2009 with the Securities and Exchange Commission. ETP has posted a copy of this Form 10-Q on its website at www.energytransfer.com. The Partnership has scheduled a conference call for 9:00 a.m. Central Time, Tuesday, November 10, 2009 to discuss the third quarter results. The conference call will be broadcast live via an internet web cast, which can be accessed through www.energytransfer.com. The call will be available for replay on the Partnership’s website for a limited time.
EBITDA, as adjusted, and distributable cash flow are non-GAAP financial measures used by industry analysts, investors, lenders, and rating agencies to assess the financial performance and the operating results of the Partnership’s fundamental business activities and should not be considered in isolation or as a substitute for net income, income from operations, cash flows from operating activities, or other GAAP measures. A table reconciling EBITDA, as adjusted, and distributable cash flow with appropriate GAAP financial measures is included in the summarized financial information included in this release.
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP’s natural gas operations include intrastate gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners and approximately 62.5 million ETP limited partners units.
The information contained in this press release is available on the Partnership’s website at www.energytransfer.com.
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Contacts
Investor Relations:
Energy Transfer
Brent Ratliff
214-981-0700 (office)
Media Relations:
Vicki Granado
Granado Communications Group
214-504-2260 (office)
214-498-9272 (cell)
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