Energy Transfer Q4 Revenue Up 29.6% to $25.3B; Secures 900 MMcf/d Oracle Gas Contract
Energy Transfer reported Q4 2025 revenue of $25.32 billion, up 29.6% and $1.28 billion above estimates, while EPS of $0.25 missed by $0.11. Management secured a 900 MMcf/d natural gas delivery contract to Oracle’s Texas data center driven by data center and power generation demand, and raised 2026 adjusted EBITDA guidance to $17.45–$17.85 billion.
1. Fiscal Q4 2025 Financial Performance
Energy Transfer reported Q4 2025 revenue of $25.32 billion, a 29.6% increase year-over-year and $1.28 billion above consensus, while EPS of $0.25 fell $0.11 short of forecasts.
2. Volume Growth and Oracle Data Center Contract
NGL and refined product terminal volumes rose 12% and NGL transportation volumes climbed 5%, driven by robust demand from data centers and power generation. The company signed its first of three long-term contracts, delivering 900 MMcf/d of natural gas to Oracle’s Texas data center.
3. Updated 2026 Adjusted EBITDA Guidance
Energy Transfer raised its 2026 adjusted EBITDA guidance to $17.45–$17.85 billion from $17.3–$17.7 billion, reflecting confidence in sustained volume growth, contract expansions and stable pricing across its midstream portfolio.