Genesis Energy posts Q1 net loss improvement, reaffirms FY Adjusted EBITDA guidance of $780-$810M

GENESIS ENERGY LP

2023-Q1 EPS reported -$0.21 revenue$790,612,000

Net loss attributable to GEL narrowed to $1.6M in Q1 2023 from $5.3M in Q1 2022.
Adjusted EBITDA of $179.1M; reaffirms full-year guidance range of $780-$810M.
Leverage ratio improved to 3.99X, achieving long-term target; expects to remain below 4X at year-end.
Soda ash production curtailed due to rail service issues, costing ~$15M; price increases for uncontracted export volumes.
Repurchased $25M Series A preferred at discount; first oil from Argos/Mad Dog 2 received mid-April.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENESIS ENERGY LP reported quarter ended March 31, 2023 results: net income Net Loss Attributable to Genesis Energy, L.P. of $1.6 million. Guidance reaffirmed.

Period: quarter ended March 31, 2023
Net income: Net Loss Attributable to Genesis Energy, L.P. of $1.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net Loss Attributable to Genesis Energy, L.P. of $1.6 million for the first quarter of 2023

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accession 0001022321-23-000045

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