Energy Transfer Partners, L.P. (ETP) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $458 million, or $ 1.47 a share in the quarter, against a net profit of $46 million, or $0.68 a share in the last year period. Revenue during the quarter grew 12.03 percent to $6,526 million from $5,825 million in the previous year period. Gross margin for the quarter contracted 181 basis points over the previous year period to 25.45 percent. Operating margin for the quarter stood at negative 2.53 percent as compared to a positive 3.21 percent for the previous year period.
Operating loss for the quarter was $165 million, compared with an operating income of $187 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $1,433 million compared with $1,360 million in the prior year period. At the same time, adjusted EBITDA margin contracted 139 basis points in the quarter to 21.96 percent from 23.35 percent in the last year period.
Working capital turns negative
Working capital of Energy Transfer Partners, L.P. has turned negative to $474 million on Dec. 31, 2016 from positive $577 million on Dec. 31, 2015. Current ratio was at 0.92 as on Dec. 31, 2016, down from 1.14 on Dec. 31, 2015.
Debt moves up
Energy Transfer Partners, L.P. has witnessed an increase in total debt over the last one year. It stood at $31,991 million as on Dec. 31, 2016, up 11.13 percent or $3,205 million from $28,786 million on Dec. 31, 2015. Total debt was 45.58 percent of total assets as on Dec. 31, 2016, compared with 44.17 percent on Dec. 31, 2015. Debt to equity ratio was at 1.21 as on Dec. 31, 2016, down from 4.64 as on Dec. 31, 2015.
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