Jan. 24 at 9:19 AM
$ET Seasonal / Market Context
Over the first half of 2021, ET reportedly “rocketed about 72%” according to market analyses—driven in part by strong earnings tied to the cold snap’s impact on demand and pricing as well as other catalysts later in the year.
The first-quarter earnings release showed a significant positive impact from the storm, including a large earnings gain (~
$2.4 billion), and the company raised guidance. That news pushed the stock higher in after-hours trading (up as much as ~4.9% at one earnings release).