Genesis Energy L P Stock Price, News & Analysis

Genesis Energy, L.P. (NYSE: GEL) will participate in the 2021 Energy Infrastructure Council Investor Conference from May 18-20, 2021, attending virtually. The company, headquartered in Houston, Texas, is a diversified midstream energy master limited partnership. Its operations encompass offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities, and marine transportation, primarily located in the Gulf Coast region, Wyoming, and the Gulf of Mexico. Presentation materials for the conference can be downloaded from www.genesisenergy.com.

Genesis Energy, L.P. (NYSE: GEL) will participate in the Citi 2021 Global Energy and Utilities Virtual Conference on May 11th and 12th. This participation aims to enhance investor engagement and communication. Interested parties can download the latest presentation materials from the company’s website under the ‘Presentations’ section in the Investors tab. Genesis Energy, headquartered in Houston, Texas, operates in various sectors such as offshore pipeline transportation and marine transportation, primarily in the Gulf Coast region and the Gulf of Mexico.

Genesis Energy, L.P. (NYSE: GEL) reported a net loss of $34.2 million for Q1 2021, compared to $24.9 million net income in Q1 2020. Operating cash flows fell to $77.2 million from $89.6 million year-over-year. Despite challenges, the company maintains a robust segment margin of $156.1 million and an Adjusted EBITDA of $144.1 million. Management expressed confidence in recovery driven by improving macroeconomic conditions and upcoming production from contracted Gulf of Mexico projects. Liquidity is bolstered through recent credit facility refinancing, with no long-term debt maturities until 2024.

Genesis Energy, L.P. (NYSE: GEL) is set to announce its First Quarter earnings for the period ending March 31, 2021, on May 5, 2021, before market opening.

The earnings conference call will commence at 8:30 a.m. Central time (9:30 a.m. Eastern time) on the same day, accessible via the Genesis Energy website.

Genesis operates in various segments, including offshore pipeline transportation and marine transportation, primarily focused in the Gulf Coast region.

Genesis Energy (NYSE: GEL) has announced the pricing of an upsized public offering of $250 million in 8.0% senior unsecured notes due 2027, up from the initially planned $200 million. The notes are part of an existing class and will rank equally with prior notes issued. The proceeds will support general partnership activities, primarily to repay revolving credit borrowings. The offering is set to close on April 22, 2021, pending standard conditions.

Genesis Energy, L.P. (NYSE: GEL) has announced a registered public offering of $200 million in 8.0% senior unsecured notes due 2027. The offering, co-issued with subsidiary Genesis Energy Finance Corporation, aims to benefit from existing subsidiaries' guarantees. The proceeds are intended for general partnership purposes, primarily to pay down revolving credit borrowings. BofA Securities is leading the offering with several joint managers. This press release includes forward-looking statements regarding the offering's closure and fund utilization, subject to market conditions.

Genesis Energy, L.P (NYSE: GEL) has successfully closed on a refinancing of its revolving credit facility, securing $950 million in new commitments. This includes a $650 million revolving credit facility and a $300 million Term Loan A, both due March 15, 2024. Proceeds will repay existing debt. CEO Grant Sims noted improved cash flow and liquidity, facilitating ongoing growth projects in the Gulf of Mexico. The offshore segment expects a quarterly run rate of $85 million in segment margin, and the company achieved record production at its Westvaco soda ash facility.

Genesis Energy, L.P. (NYSE: GEL) announced a distribution for its common and preferred units, with payments set for May 14, 2021. Holders of common units will receive a quarterly cash distribution of $0.15 per unit, totaling $0.60 annually. Preferred unit holders will receive $0.7374 per unit, equating to $2.9496 annually. This announcement reflects Genesis’ ongoing commitment to return value to its investors while maintaining its diversified midstream energy operations across the Gulf Coast and other regions.

Genesis Energy, L.P. (NYSE: GEL) announced its participation in two key investor conferences this week. The events are: Simmons Energy 21st Annual Energy Conference on March 22-23, 2021, and Truist Securities 4th Annual Utilities, Midstream & Alternative Energy Summit on March 25, 2021. Interested parties can access the Partnership’s latest presentation materials by visiting www.genesisenergy.com under the Investors tab. Genesis Energy operates primarily in the Gulf Coast region, offering diversified midstream energy services.