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Energy Transfer LP: 3Q Earnings Snapshot

·1 min read

DALLAS (AP) _ Energy Transfer LP (ET) on Wednesday reported a third-quarter loss of $782 million, after reporting a profit in the same period a year earlier.

The Dallas-based company said it had a loss of 29 cents per share. Earnings, adjusted for asset impairment costs, were 30 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The energy-related services provider posted revenue of $9.96 billion in the period.

Energy Transfer LP shares have dropped 58% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.35, a drop of 58% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ET at https://www.zacks.com/ap/ET