Energy Transfer to release earnings Aug. 8

Energy Transfer Partners based in Dallas, the company behind the controversial Dakota Access Pipeline in South Dakota plans to releases its second quarter earnings report on Aug. 8.

The company already approved a quarterly cash distribution of $0.565 per common unit which translated to $2.26 on an annualized basis. It was also the same distribution as made in the first quarter of 2018.

ETP plans to release earnings on Wednesday, Aug. 8 after the market closes. Company leaders will hold a joint conference call on Thursday, Aug. 9 at 8 a.m. central time to discuss the quarterly results.

In May, the first quarter results showed total revenue of $8.280 billion compared to $6.895 billion a year earlier. It also had a total distributable cash flow of $1.366 billion which was a more than 40% increase over a year earlier.

Net income for the first quarter was $879 million compared to $393 million in the year-ago quarter.