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Genesis Energy, L.P. Declares Quarterly Distribution

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Genesis Energy, L.P. (NYSE: GEL) has announced its quarterly cash distribution for the quarter ended September 30, 2024. Common unit holders will receive $0.165 per unit ($0.66 annualized), while Class A Convertible Preferred unit holders will receive $0.9473 per unit ($3.7890 annualized). The distribution will be paid on November 14, 2024 to holders of record as of October 31, 2024.

The company will release its Q3 2024 earnings on October 31, 2024, before the NYSE opens, followed by a conference call at 9:00 a.m. CDT. Genesis Energy is a diversified midstream energy master partnership with operations in offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.

Genesis Energy, L.P. (NYSE: GEL) ha annunciato la sua distribuzione trimestrale di cassa per il trimestre terminato il 30 settembre 2024. I detentori di unità ordinarie riceveranno $0,165 per unità ($0,66 annualizzati), mentre I detentori di unità preferenziali convertibili di Classe A riceveranno $0,9473 per unità ($3,7890 annualizzati). La distribuzione verrà effettuata il 14 novembre 2024 per i titolari registrati al 31 ottobre 2024.

La società pubblicherà i suoi risultati del terzo trimestre 2024 il 31 ottobre 2024, prima dell'apertura della Borsa NYSE, seguiti da una conferenza telefonica alle 9:00 CDT. Genesis Energy è una partnership master di energia midstream diversificata con operazioni nel trasporto di pipeline offshore, nella produzione di minerali di sodio e nei servizi di zolfo, nelle strutture e nel trasporto onshore, oltre che nel trasporto marittimo, principalmente nella regione del Golfo del Messico, in Wyoming e nel Golfo del Messico.

Genesis Energy, L.P. (NYSE: GEL) ha anunciado su distribución de efectivo trimestral para el trimestre finalizado el 30 de septiembre de 2024. Los tenedores de unidades comunes recibirán $0.165 por unidad ($0.66 anualizados), mientras que los tenedores de unidades preferentes convertibles Clase A recibirán $0.9473 por unidad ($3.7890 anualizados). La distribución se pagará el 14 de noviembre de 2024 a los titulares registrados hasta el 31 de octubre de 2024.

La empresa publicará sus resultados del tercer trimestre de 2024 el 31 de octubre de 2024, antes de la apertura de la NYSE, seguido de una conferencia telefónica a las 9:00 a.m. CDT. Genesis Energy es una sociedad de energía midstream diversificada que opera en el transporte de oleoductos en alta mar, minerales de sodio y servicios de azufre, instalaciones y transporte en tierra, y transporte marítimo, principalmente en la región del Golfo de México, Wyoming y el Golfo de México.

Genesis Energy, L.P. (NYSE: GEL)는 2024년 9월 30일로 종료된 분기의 분기별 현금 분배를 발표했습니다. 보통주 유관자는 유닛당 $0.165(연환산 $0.66)를, A급 전환 우선주 유관자는 유닛당 $0.9473(연환산 $3.7890)를 받게 됩니다. 분배금은 2024년 11월 14일2024년 10월 31일 기준의 주주들에게 지급될 예정입니다.

회사는 2024년 10월 31일 NYSE 개장 전에 2024년 3분기 실적을 발표하며, 그 후 오전 9시 CDT에 전화 회의를 가질 예정입니다. Genesis Energy는 해양 파이프라인 운송, 나트륨 광물 및 황 서비스, 육상의 시설 및 운송, 해상 운송을 주요 작업으로 하는 다각화된 중간 에너지 마스터 파트너십입니다. 주로 멕시코만, 와이오밍 및 멕시코만 지역에서 운영됩니다.

Genesis Energy, L.P. (NYSE: GEL) a annoncé sa distribution de liquidités trimestrielle pour le trimestre se terminant le 30 septembre 2024. Les détenteurs d'unités ordinaires recevront 0,165 $ par unité (0,66 $ annualisés), tandis que les détenteurs d'unités privilégiées convertibles de Classe A recevront 0,9473 $ par unité (3,7890 $ annualisés). La distribution sera effectuée le 14 novembre 2024 pour les détenteurs enregistrés au 31 octobre 2024.

L'entreprise publiera ses résultats du troisième trimestre 2024 le 31 octobre 2024, avant l'ouverture de la NYSE, suivis d'une conférence téléphonique à 9h00 CDT. Genesis Energy est un partenariat maitre d'énergie midstream diversifié avec des opérations dans le transport de pipelines offshore, les minéraux de sodium et les services de soufre, les installations et le transport onshore, ainsi que le transport maritime, principalement dans la région du Golfe du Mexique, dans le Wyoming et dans le Golfe du Mexique.

Genesis Energy, L.P. (NYSE: GEL) hat seine vierteljährliche Barausschüttung für das zum 30. September 2024 endende Quartal angekündigt. Die Inhaber von Stammaktien erhalten $0,165 pro Aktie ($0,66 annualisiert), während die Inhaber von Klasse A wandelbaren Vorzugsaktien $0,9473 pro Aktie ($3,7890 annualisiert) erhalten. Die Ausschüttung wird am 14. November 2024 an die am 31. Oktober 2024 eingetragenen Aktionäre ausgezahlt.

Das Unternehmen wird seine Ergebnisse für das dritte Quartal 2024 am 31. Oktober 2024, vor der Markteröffnung der NYSE, veröffentlichen, gefolgt von einer Telefonkonferenz um 9:00 Uhr CDT. Genesis Energy ist eine diversifizierte Midstream-Energie-Master-Partnerschaft mit Aktivitäten im Offshore-Pipeline-Transport, in Natrium-Mineralien und Schwefeldienstleistungen, sowie im Onshore-Bereich und im maritimen Transport, hauptsächlich in der Golfküstenregion, Wyoming und im Golf von Mexiko.

Positive
  • Consistent quarterly cash distribution maintained for common and preferred unit holders
  • Timely earnings release and investor conference call scheduled
Negative
  • None.

Insights

Genesis Energy's quarterly distribution announcement is a routine event for MLPs, but it's worth noting the consistency in their payout. The $0.165 per common unit ($0.66 annualized) and $0.9473 per preferred unit ($3.7890 annualized) distributions suggest stability in the company's cash flow.

However, investors should be cautious. The distribution yield, while attractive, doesn't necessarily indicate financial health. It's important to examine the distribution coverage ratio and the sustainability of these payouts in the upcoming earnings report. The diversified operations across offshore pipeline transportation, sodium minerals, sulfur services and marine transportation provide some buffer against sector-specific risks.

The announcement of the earnings release date and conference call is standard practice, but it will be the key event to watch for insights into the company's financial performance and distribution sustainability. Investors should pay close attention to metrics like distributable cash flow and leverage ratios during the earnings call.

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) announced today that the Board of Directors of its general partner declared a quarterly cash distribution to be paid to Genesis common unit holders and Class A Convertible Preferred unit holders with respect to the quarter ended September 30, 2024. Each holder of common units will be paid a quarterly cash distribution of $0.165, or $0.66 on an annualized basis, for each common unit held of record. Each holder of preferred units will be paid a quarterly cash distribution of $0.9473, or $3.7890 on an annualized basis, for each preferred unit held of record. These quarterly distributions will be paid on Thursday, November 14, 2024 to holders of record at the close of business on Thursday, October 31, 2024.

Genesis will announce its earnings for the third quarter of 2024 on Thursday, October 31, 2024, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9:00 a.m. CDT with analysts and investors to discuss its earnings. The call will be webcast live on the Internet and may be accessed through the “Investors” section of the partnership’s website at www.genesisenergy.com. A replay of the webcast will be available following the conference call and may be accessed approximately one hour after completion of the call.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.

This press release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Genesis Energy’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Genesis Energy’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

Genesis Energy, L.P.

Dwayne Morley

VP – Investor Relations

(713) 860-2536

Source: Genesis Energy, L.P.

FAQ

What is the quarterly distribution amount for Genesis Energy (GEL) common unit holders?

Genesis Energy (GEL) common unit holders will receive a quarterly cash distribution of $0.165 per unit, or $0.66 on an annualized basis.

When will Genesis Energy (GEL) pay its quarterly distribution for Q3 2024?

Genesis Energy (GEL) will pay its quarterly distribution for Q3 2024 on Thursday, November 14, 2024, to holders of record as of October 31, 2024.

What is the quarterly distribution amount for Genesis Energy (GEL) preferred unit holders?

Genesis Energy (GEL) Class A Convertible Preferred unit holders will receive a quarterly cash distribution of $0.9473 per unit, or $3.7890 on an annualized basis.

When will Genesis Energy (GEL) announce its Q3 2024 earnings?

Genesis Energy (GEL) will announce its Q3 2024 earnings on Thursday, October 31, 2024, before the New York Stock Exchange opens for trading.

Genesis Energy, L.P.

NYSE:GEL

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1.35B
100.14M
18.23%
70.74%
2.49%
Oil & Gas Midstream
Pipe Lines (no Natural Gas)
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United States of America
HOUSTON