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. reports news as a diversified midstream energy master limited partnership with operations in offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities and transportation. Its operating footprint is primarily in the Gulf Coast region of the United States and the Gulf of America.
Recurring updates cover quarterly results, Segment Margin, Adjusted EBITDA, Available Cash before Reserves, and cash distributions on common units and Class A Convertible Preferred units. Company announcements also address offshore throughput, customer hub activity, waterborne transportation demand, K-1 tax packages for unitholders, investor presentations, credit facility amendments, senior note offerings, tender offers, and other capital-structure actions tied to the partnership's financing profile.
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.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in the Citi One-on-One Midstream / Energy Infrastructure Conference in Las Vegas, Nevada. The event will take place in person on August 16th and 17th, 2022. Interested investors can access the latest presentation materials by visiting the company's website at www.genesisenergy.com under the 'Presentations' section of the Investors tab. Genesis operates primarily in the Gulf Coast, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) reported a net income of $35.3 million for Q2 2022, compared to a loss of $41.7 million in Q2 2021. Cash flows from operations were $104.0 million. The company declared cash distributions of $0.7374 per preferred unit, totaling $18.7 million. Total segment margin reached $219.3 million, with adjusted EBITDA at $210.1 million. The company raised its full-year adjusted EBITDA guidance to $670-$680 million, highlighting operational improvements and growth in offshore pipeline transportation and soda ash segments.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution for its common and Class A Convertible Preferred Units on July 12, 2022. For the quarter ending June 30, 2022, holders of common units will receive $0.15 per unit ($0.60 annually), while preferred unit holders will receive $0.7374 per unit ($2.9496 annually). These distributions will be paid on August 12, 2022, to investors on record as of July 29, 2022. Genesis operates in the midstream energy sector, primarily in the Gulf Coast region and Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) will announce its Second Quarter earnings for the period ending June 30, 2022 on July 28, 2022, prior to market opening. An earnings conference call is scheduled for the same day at 9:00 a.m. Central time. Interested parties can access the call through the Investor Relations section of Genesis Energy's website. The company operates across several sectors including offshore pipeline transportation and marine transportation, mainly in the Gulf Coast region.
Genesis Energy, L.P. (NYSE: GEL) will participate in the BofA Securities Energy Credit Conference on June 8-9, 2022, in New York, New York. This in-person event will feature presentations from the midstream energy company, which is headquartered in Houston, Texas.
Genesis Energy specializes in various midstream services, including offshore pipeline transportation and marine transportation, primarily in the Gulf Coast region and Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) announced the redemption of 100% of its Alkali asset-level preferred units, originally issued in 2019. This move strengthens credit support for secured lenders and unsecured bondholders. The transaction involved the sale of a 10% limited term overriding royalty interest (ORRI), generating $425 million from the issuance of senior secured notes due 2042. The funds will be utilized to complete the Granger expansion and pay down existing debt. CEO Grant Sims highlighted the simplification of corporate structure and reduced refinancing risk.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in the 2022 EIC Investor Conference on May 16-17, 2022, in West Palm Beach, Florida. The conference will be held in person, providing a platform for investors to engage with the company.
Attendees can download the latest presentation materials on the Genesis Energy website under the 'Presentations' section of the Investors tab. The company, headquartered in Houston, Texas, operates in offshore pipeline transportation and other energy-related services primarily in the Gulf Coast region.
Genesis Energy, L.P. (NYSE: GEL) reported a net loss of $5.3 million for Q1 2022, significantly improved from a $34.2 million loss in Q1 2021. Operating cash flows totaled $54.2 million, down from $77.2 million the previous year. Total Segment Margin reached $157.5 million, with an Adjusted EBITDA of $143.1 million. The company announced new agreements for downstream transportation, expected to handle 160,000 barrels per day by late 2024 or 2025. Additionally, soda ash demand remains strong, with prices increasing in export markets, providing a positive outlook for the company.