Energy Transfer reported its Q4 2024 earnings, missing analysts' expectations on both earnings per share (EPS) and revenue. The company posted a GAAP EPS of $0.29, below the $0.40 estimate, and revenue of $19.54 billion, which fell short of the $22.014 billion forecast. Year-over-year, revenue declined by 4.83%, and EPS dropped by 21.62%. Despite the misses, Energy Transfer highlighted strong volume growth in crude oil transportation (+15%) and natural gas liquids (NGL) transportation (+5%). The company also secured key long-term agreements to support artificial intelligence (AI) data centers and liquefied natural gas (LNG) exports. The company exceeded its 2024 guidance by 1.3% and achieved a 10% return on CAPEX. Looking ahead, Energy Transfer provided 2025 adjusted EBITDA guidance in the range of $16.1 billion to $16.5 billion, compared to the $16.45 billion consensus estimate.