Energy Transfer LP reported a net income attributable to the partners of $1.32 billion for Q1 2025, representing a 7% increase compared to Q1 2024. The company's adjusted EBITDA for the quarter reached $4.10 billion, up 6% from the previous year. The company's 2025 adjusted EBITDA guidance is projected between $16.1 billion and $16.5 billion, with a midpoint increase of 5% from FY 2024. Operational highlights include a 3% increase in interstate natural gas transportation, a 10% rise in crude oil transportation, a 4% increase in NGL transportation volumes, and a 5% boost in total NGL exports. Additionally, Energy Transfer has begun construction on the Hugh Brinson Pipeline, which will expand transportation capacity from the Permian Basin. The company's financial position has significantly improved with leverage ratios now in the lower half of its 4.0-4.5x target range. You can access the full presentation through the link below.