Energy Transfer Made $2.4 Billion From Texas Winter Storm
- Pipeline giant posted record profit on skyrocketing gas prices
- Company was able to supply natural gas as other sources failed
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Energy Transfer LP, the pipeline giant controlled by billionaire Kelcy Warren, has emerged as the biggest winner so far from the deadly winter storm that paralyzed Texas in February.
The company saw a positive earnings impact from the extreme weather of about $2.4 billion, it said Thursday in its first-quarter earnings statement. Energy Transfer raised its full-year earnings guidance to as much as $13.3 billion, from up to $11 billion previously. The stock jumped as much as 4.9% in after-hours trading.