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

Energy Transfer has reported Operating Expenses for 18 years, with the latest figure at $1.7 billion in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses fell 90.85% year-over-year to $1.7 billion; the trailing twelve-month figure through Mar 2026 stood at $93.2 billion (up 134.35% YoY), and the FY2025 full-year result was $76.5 billion, up 1381.58% from the prior year.
• Operating Expenses for Q1 2026 stood at $1.7 billion, down from $72.3 billion in the prior quarter.
• The five-year high for Operating Expenses was $79.2 billion in Q4 2022, with the low at -$47.6 billion in Q4 2023.
• Historically, Operating Expenses has averaged $14.4 billion across 5 years, with a median of $16.5 billion in 2023.
• Annual changes were most pronounced in 2023 — Operating Expenses tumbled 160.08% — and 2025, when it surged 4919.78%.
• Energy Transfer's Operating Expenses stood at $79.2 billion in 2022, then plunged by 160.08% to -$47.6 billion in 2023, then jumped by 103.03% to $1.4 billion in 2024, then surged by 4919.78% to $72.3 billion in 2025, then plunged by 97.66% to $1.7 billion in 2026.
• The last three Operating Expenses figures came in at $1.7 billion (Q1 2026), $72.3 billion (Q4 2025), and $17.8 billion (Q3 2025), per Business Quant data.