Genesis Energy Q2 net income $49.3M, revises FY 2023 EBITDA guidance to $725-745M

GENESIS ENERGY LP

2023-Q2 EPS reported $0.01 revenue$1,595,274,000

Net income attributable to GEL $49.3M in Q2 2023, up from $35.3M in Q2 2022; operating cash flow $157.7M vs $104.0M.
Adjusted EBITDA $198.0M in Q2 2023; full-year guidance cut to $725-745M (down ~5-6% from original, excluding Q1 lost $15M).
Soda ash business returned to normal ops; softer export pricing due to slower global industrial demand and China reopening.
Granger expansion on schedule for first soda ash production in coming months; marine utilization near 100% with new American Phoenix contract at highest day rate since 2014.
Expect leverage ratio at or near 4.0x by year-end; long-term cash flow generation of $200-300M/year post-2025 growth capex.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENESIS ENERGY LP reported the second quarter of 2023 results: net income Net Income Attributable to Genesis Energy, L.P. of $49.3 million for the second quarter of 2023. Guidance reaffirmed.

Period: the second quarter of 2023
Net income: Net Income Attributable to Genesis Energy, L.P. of $49.3 million for the second quarter of 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

We issued a press release on August 3, 2023 regarding our financial results for the quarter ended June 30, 2023

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accession 0001022321-23-000073

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