Genesis Energy Q3 net loss narrows to $20.9M; soda ash margins improve; lowers full-year outlook slightly

GENESIS ENERGY LP

2021-Q3 EPS reported -$1.25 revenue$1,543,895,000

Net loss of $20.9M vs $29.7M loss in Q3 2020; Adjusted EBITDA of $140.5M.
Total Segment Margin $153.9M; Offshore pipeline $76M (+33%), Sodium minerals $39.6M (+44%).
Available Cash before Reserves $48.2M; distribution coverage 2.62X at $0.15/unit.
Full-year Adj EBITDA guidance revised down to ~$620M; Q4 expected lower end of $80-$85M.
Granger expansion on schedule for Q3 2023; may restart original facility in early 2023.

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