Genesis Energy Q3 net loss $17.2M vs $58.1M profit; offshore delays, soda ash challenges cited

GENESIS ENERGY LP

2024-Q3 EPS reported -$0.66 revenue$2,240,663,000

Net loss of $17.2M versus net income of $58.1M in Q3 2023; cash from ops fell to $87.3M.
Adjusted EBITDA $136.7M; total Segment Margin $151.1M; Available Cash before Reserves to common unitholders $24.5M (1.21x coverage).
Offshore segment hit by delays at Winterfell and Warrior; producer mechanical issues and hurricanes Beryl and Francine.
Soda ash impacted by Westvaco outages and weaker export pricing; missing >300,000 tons from original full-year forecast.
Management reaffirms 2025 growth outlook despite near-term transition; leverage ratio at 4.84x, no near-term debt maturities.

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