Energy Transfer Equity: 2Q Earnings Snapshot
DALLAS (AP) _ Energy Transfer Equity L.P. (ETE) on Wednesday reported second-quarter profit of $355 million.
The Dallas-based company said it had profit of 31 cents per share. Earnings, adjusted to account for discontinued operations, were 33 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The energy-related services provider posted revenue of $14.12 billion in the period.
Energy Transfer Equity shares have climbed 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.48, an increase of 11 percent in the last 12 months.