Welcome to our dedicated page for Genesis Energy L P news (Ticker: GEL), a resource for investors and traders seeking the latest updates and insights on Genesis Energy L P stock.
Genesis Energy, L.P. (NYSE: GEL) is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations focused on offshore pipeline transportation, marine transportation, sulfur services and onshore facilities and transportation. The GEL news feed highlights the partnership’s public announcements, earnings results and other communications that describe how these businesses perform over time.
On this page, readers can review press releases covering quarterly financial results, segment performance and the use of non-GAAP measures such as Adjusted EBITDA, Available Cash before Reserves and total Segment Margin. Genesis’ news also includes information on cash distributions to common and Class A Convertible Preferred unitholders, along with qualified tax notices for foreign investors and updates on Schedule K-3 availability for unitholders with international tax considerations.
In addition, Genesis regularly announces participation in energy, power, leveraged finance and natural resources conferences, where it hosts investor meetings and makes presentation materials available through its investor communications. These items provide context on how the partnership presents its midstream strategy, capital allocation framework and segment organization, including offshore pipeline transportation in the Gulf of America, marine transportation across North America and onshore transportation and services in the Gulf Coast region.
Investors and researchers can use the GEL news page as a centralized source for the partnership’s official Business Wire releases and related updates. By reviewing these items together, users can better understand how Genesis describes its operations, financial measures, distributions and tax-related information over multiple reporting periods.
Genesis Energy, L.P. (NYSE: GEL) has initiated a cash tender offer to acquire all outstanding 5.625% senior unsecured notes due 2024. Currently, $341,135,000 of these notes are outstanding as of January 18, 2023. The offer will expire at 5:00 p.m. on January 24, 2023, with settlement expected on January 25, 2023. Holders of validly tendered notes will receive $1,001.70 per $1,000 principal amount, plus accrued interest. The tender offer is contingent on successful debt financing and may be amended or terminated at Genesis's discretion.
Genesis Energy, L.P. (NYSE: GEL) has initiated a public offering of $400 million in senior unsecured notes due 2030. This offering will be co-issued with its subsidiary, Genesis Energy Finance Corporation, and guaranteed by most subsidiaries. The funds will primarily be used to redeem existing 5.625% senior unsecured notes due 2024 and to pay accrued interests. Additionally, the remainder will finance general partnership activities, including debt repayment. Wells Fargo Securities, LLC is leading the offering, which follows SEC regulations and is not an offer to purchase the notes directly.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution on its common units and Class A Convertible Preferred Units for the quarter ending December 31, 2022. Holders of common units will receive $0.15 per unit, translating to an annualized rate of $0.60, while preferred unit holders will receive $0.9473 per unit ($3.7890 annualized). These distributions will be paid on February 14, 2023, to those on record by January 31, 2023. The company operates primarily in the Gulf Coast region and is subject to federal income tax withholding for foreign investors.
Genesis Energy, L.P. (NYSE: GEL) will participate in the Wells Fargo 21st Annual Midstream & Utilities Symposium on December 7-8, 2022, in New York City. The event will take place in person, providing an opportunity for stakeholders to engage directly with the company. Genesis Energy, a diversified midstream energy master limited partnership based in Houston, Texas, focuses on offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation, primarily within the Gulf Coast region and Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) will participate in the RBC Capital Markets Midstream and Energy Infrastructure Conference in Dallas, Texas on November 16-17, 2022. The event will be held in person, offering insights into the midstream energy sector. Interested parties can download the latest presentation materials from Genesis Energy's website under the 'Presentations' section in the Investors tab.
Based in Houston, Texas, Genesis Energy operates in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) reported a net income of $3.4 million for Q3 2022, a significant recovery from a net loss of $20.9 million in Q3 2021. Operating cash flows increased to $94.3 million from $54.2 million year-over-year. Adjusted EBITDA reached $183.6 million, exceeding expectations, while total segment margin rose to $196.2 million. The company has raised its full-year Adjusted EBITDA guidance to $700-$710 million, anticipating strong performance amid a tight soda ash market and growth from offshore operations.
Genesis Energy, L.P. (NYSE: GEL) will report its earnings for the Third Quarter ended September 30, 2022, on October 27, 2022, before the market opens. The earnings conference call is scheduled for the same day at 9:00 a.m. Central time (10:00 a.m. Eastern). Investors can access the call through Genesis Energy's website. The company is a midstream energy master limited partnership based in Houston, Texas, with operations including offshore pipeline transportation, sodium minerals, and sulfur services.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution of $0.15 per common unit, equating to an annualized rate of $0.60, payable on November 14, 2022, to record holders as of October 31, 2022. For its 8.75% Class A Convertible Preferred Units, the distribution amounts to $0.7374 per preferred unit ($2.9496 annualized). This decision reflects Genesis’ ongoing commitment to return value to its investors and highlights its operational stability within the midstream energy sector, primarily centered in the Gulf Coast region and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) will participate in the Wells Fargo Leveraged Finance Conference in Nashville, Tennessee on September 8-9, 2022. The company, based in Houston, Texas, operates in offshore pipeline transportation, sodium minerals, sulfur services, and more. Latest presentation materials are available on their website under the Investors tab. Genesis primarily serves the Gulf Coast, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) has made its 2021 Schedule K-3 available online for unitholders who require this international tax information. Unitholders can access the Schedule on the Partner Relations support website or via the Genesis Energy homepage. The Schedule K-3 is particularly important for foreign unitholders and those computing foreign tax credits. Genesis Energy will not be mailing copies of this document, but unitholders can request an electronic version by calling Partner DataLink.