Genesis Energy Q3 net income $3.4M vs loss; raises 2022 EBITDA guidance

GENESIS ENERGY LP

2022-Q3 EPS reported -$0.18 revenue$2,074,920,000

Net income $3.4M vs loss $20.9M in Q3 2021; cash from ops $94.3M vs $54.2M.
Adjusted EBITDA $183.6M in Q3; trailing 12-month $692.3M, bank leverage ratio 4.27X.
Raised 2022 Adj. EBITDA guidance to $700-$710M (from prior); expects exit leverage ≤4.25X.
Expected 2023 Adj. EBITDA in mid-$700M range, leverage below 4.0X; Granger expansion on schedule.
Q4 headwinds: sulfur services ~$5M impact from refinery outage; onshore facilities ~$4M from maintenance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENESIS ENERGY LP reported the third quarter of 2022 results: net income $3.4 million. Guidance raised.

Period: the third quarter of 2022
Net income: $3.4 million
Guidance: raised
Result: reported results

Exact text from the filing

Genesis Energy, L.P. (NYSE: GEL) today announced its third quarter results. We generated the following financial results for the third quarter of 2022: • Net Income Attributable to Genesis Energy, L.P. of $3.4 million for the third quarter of 2022 compared to Net Loss Attributable to Genesis Energy, L.P. of $20.9 million for the same period in 2021.

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Source: SEC EDGAR

accession 0001022321-22-000088

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