Energy Transfer LP on Aug. 7 posted second-quarter adjusted EBITDA of $2.82 billion, an increase from $2.26 billion in the prior-year period.
The S&P Global Market Intelligence consensus adjusted EBITDA estimate was $2.69 billion.
Energy Transfer's distributable cash flow in the quarter was $1.60 billion, up from $1.30 billion in the year-earlier period. Net income attributable to the partners was $878.0 million, an increase from $355.0 million a year earlier.
The midstream energy giant raised its 2019 outlook for adjusted EBITDA to about $10.8 billion to $11.0 billion. It also cut its capital expenditure guidance to about $4.6 billion to $4.8 billion.
Energy Transfer owns and operates one of the largest portfolios of energy assets in the U.S., with a strategic footprint in all the major domestic production basins.