Will Energy Transfer Partners LP Continue Its Turnaround in the 3rd Quarter?
Energy Transfer Partners (NYSE: ETP) has struggled mightily throughout the oil market downturn. A combination of low oil prices and challenging capital market conditions cut into the company's cash flow and its ability to obtain the money it needed to complete a significant expansion phase.
However, after completing one of its largest growth projects earlier this year, the company's cash flow finally turned a corner last quarter. That suggests the energy infrastructure giant should show continued financial improvement when it reports third-quarter earnings on Tuesday evening, despite an unexpected headwind.
In the second quarter, Energy Transfer Partners reported that adjusted EBITDA improved 16.7% to $1.6 billion, which helped fuel a 21.5% surge in distributable cash flow to $990 million. Driving that turnaround was a notable uptick in earnings from the company's midstream and crude oil transportation and services segments:
Source: Fool.com
