secwatch.observer — SEC 8-K summary
======================================

Issuer:     GENESIS ENERGY LP (GEL)
CIK:        0001022321
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001022321-24-000049
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1022321/000102232124000049/0001022321-24-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1022321/000102232124000049/gel-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001022321-24-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer