Energy Transfer Partners Reports Third Quarter Results

DALLAS--(BUSINESS WIRE)--Energy Transfer Partners, L.P. (NYSE: ETP) (“ETP” or the “Partnership”) today reported its financial results for the quarter ended September 30, 2016. Net income for the three months ended September 30, 2016 was $138 million, a decrease of $255 million compared to the three months ended September 30, 2015, primarily due to a $308 million non-cash impairment of the Partnership’s investment in the Midcontinent Express Pipeline. Adjusted EBITDA for ETP for the three months ended September 30, 2016 totaled $1.39 billion, a decrease of $110 million compared to the three months ended September 30, 2015, primarily due to lower earnings from the Partnership’s unconsolidated affiliates, including the impact from the Partnership’s contribution of certain assets to Sunoco LP in March 2016. Distributable Cash Flow attributable to the partners of ETP, as adjusted, for the three months ended September 30, 2016 totaled $720 million, a decrease of $14 million compared to the three months ended September 30, 2015, primarily due to a decrease in distributable cash flow from unconsolidated affiliates, which was largely offset by an increase in distributions received from Sunoco Logistics Partners L.P. (“Sunoco Logistics”) and a decrease in current income tax expense.