Genesis Energy Q1 net income $11.4M vs year-ago loss; Shenandoah first oil delayed to Q2 2025

GENESIS ENERGY LP

2024-Q1 EPS reported -$0.09 revenue$770,105,000

Net income $11.4M vs $1.6M loss; Adj. EBITDA $163.1M; cash from ops $125.9M.
Shenandoah first oil delayed to Q2 2025 (previously Dec. 2024), ~$6M Q4 impact.
Soda ash ops issues cost ~$8M in Q1; Westvaco back to full capacity; Granger fix in Q2.
Management expects $250-350M+ annual cash flow after obligations starting late 2024.
Offshore: new MVC contracts on CHOPS; Argos >130k bpd; Salamanca on track mid-2025.

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 first quarter of 2024 results: net income Net Income Attributable to Genesis Energy, L.P. of $11.4 million.

Period: the first quarter of 2024
Net income: Net Income Attributable to Genesis Energy, L.P. of $11.4 million
Result: reported results

Exact text from the filing

Genesis Energy, L.P. (NYSE: GEL) today announced its first quarter results. We generated the following financial results for the first quarter of 2024: • Net Income Attributable to Genesis Energy, L.P. of $11.4 million for the first quarter of 2024

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Source: SEC EDGAR

accession 0001022321-24-000049

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