secwatch.observer — SEC 8-K summary
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Issuer:     GENESIS ENERGY LP (GEL)
CIK:        0001022321
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001022321-23-000073
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1022321/000102232123000073/0001022321-23-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1022321/000102232123000073/gel-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001022321-23-000073

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