Genesis Energy reports Q2 net loss of $8.7M; raises quarterly distribution 10% to $0.165/unit

GENESIS ENERGY LP

2024-Q2 EPS reported -$0.34 revenue$1,526,366,000

Net loss attributable to GEL of $8.7M vs net income of $49.3M in Q2 2023; Adjusted EBITDA $148.9M.
Available Cash before Reserves to common unitholders $37.6M, providing 2.05X coverage on $0.15/unit distribution.
Board approves 10% distribution increase to $0.165/unit per quarter starting with Q3 2024 payment on Nov 14.
CEO expects 2025 Adjusted EBITDA ~$800M, approaching $900M in 2026; offshore projects on schedule.
Soda ash operations benefiting from Granger expansion; marine transportation at near 100% utilization with rising day rates.

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