Energy Transfer (ET) Operating Expenses (2009 - 2026)

Energy Transfer's Operating Expenses history runs 18 years deep, the most recent figure standing at $24.8 billion for Q1 2026.

• Quarterly Operating Expenses rose 1808.24% year-over-year to $24.8 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$4.1 billion (down 103.83% YoY) and the FY2025 annual result came in at $5.9 billion, down 92.02% from the prior year.
• Operating Expenses was $24.8 billion for Q1 2026 at Energy Transfer, up from -$47.4 billion in the prior quarter.
• Across five years, Operating Expenses topped out at $69.8 billion in Q4 2024 and bottomed at -$47.6 billion in Q4 2023.
• A 5-year average of $7.1 billion and a median of $1.5 billion in 2025 frame the typical range for Operating Expenses.
• Annual changes were most pronounced in 2022 — Operating Expenses surged 2648.79% — and 2023, when it tumbled 3607.08%.
• Energy Transfer's Operating Expenses stood at $1.4 billion in 2022, then tumbled by 3607.08% to -$47.6 billion in 2023, then soared by 246.8% to $69.8 billion in 2024, then plunged by 167.9% to -$47.4 billion in 2025, then surged by 152.3% to $24.8 billion in 2026.
• Business Quant data shows ET's Operating Expenses at $24.8 billion in Q1 2026, -$47.4 billion in Q4 2025, and $1.5 billion in Q3 2025.