Genesis Energy Q1 net loss $469M; completes soda ash sale, reduces annual cash costs $120M+

GENESIS ENERGY LP

2025-Q1 EPS reported -$4.06 revenue$398,311,000

Net loss $469.1M vs net income $11.4M YoY; cash from ops $24.8M vs $125.9M.
Sold soda ash business to WE Soda affiliate for $1.425B enterprise value; net cash ~$1.0B after costs.
Used proceeds to pay down revolver, redeem 8% notes due 2027, repurchase $250M Class A Convertible Preferred.
Offshore expansion: SYNC 1 pipeline commissioning end of May; Shenandoah first oil June; Salamanca first oil Q3.
2025 Adjusted EBITDA guidance $545-575M; bank leverage 5.49x; nearest maturity early 2028.

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