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 (NYSE: GEL) has announced its quarterly distribution payments for Q4 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 distributions will be paid on February 14, 2025, to holders of record as of January 31, 2025.
The company will release its Q4 2024 earnings on February 13, 2025, before NYSE trading begins, followed by a conference call at 9:00 a.m. CDT. Genesis Energy operates as a diversified midstream energy master partnership, focusing on offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities, and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy (NYSE: GEL) announced the early results of its cash tender offer for up to $575 million of its 8.0% senior notes due 2027. As of December 18, 2024, the company received tenders for $877,967,000 of the notes, making the offer oversubscribed. With $981,245,000 in total outstanding notes, GEL will implement a pro-ration factor of approximately 66% for accepting tendered notes.
The initial settlement date is set for December 20, 2024. Due to oversubscription at the Early Tender Deadline, holders who tender notes after this deadline will not have their notes accepted for payment. The tender offer will expire on January 6, 2025.
Genesis Energy (NYSE: GEL) has announced its participation in Wells Fargo's 23rd Annual Midstream, Energy & Utilities Symposium in New York City on December 10-11, 2024. The company will host investor meetings during the event.
The company has made its latest presentation materials available for download on their website under the Investors tab. Genesis Energy is a diversified midstream energy master partnership based in Houston, Texas, with operations spanning offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation. Their operations are primarily concentrated in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico.
Genesis Energy (NYSE: GEL) has increased the maximum aggregate principal amount of its 8.0% Senior Notes due 2027 that it will accept for purchase in its tender offer from $385 million to $575 million. Notes tendered by the Early Tender Deadline (December 18, 2024) will receive $1,021.90 per $1,000 principal amount, including a $30.00 early tender payment. Notes tendered after the Early Tender Deadline but before the Expiration Time (January 6, 2025) will receive $991.90 per $1,000 principal amount.
Settlement dates are expected on December 20, 2024 for early tenders and January 8, 2025 for regular tenders. The offer is contingent upon receiving sufficient funding from future senior notes offerings but not on any minimum tender amount. The company intends, but is not obligated, to redeem additional notes equal to the Tender Offer Cap after the tender offer completion.
Genesis Energy (NYSE: GEL) has priced a public offering of $600 million in 8.000% senior notes due 2033, upsized from the previously announced $400 million. The notes will be co-issued with Genesis Energy Finance and guaranteed by all subsidiaries except unrestricted ones.
The proceeds will be used to purchase or redeem up to $575 million of outstanding 8.0% senior notes due 2027 and for general partnership purposes, including repaying revolving borrowings under their senior secured credit facility. The offering is expected to settle on December 19, 2024.
Genesis Energy (NYSE: GEL) has announced a cash tender offer to purchase up to $385 million of its outstanding 8.0% senior notes due 2027. Currently, $981,245,000 in aggregate principal amount of these notes are outstanding.
Holders who tender their notes by the Early Tender Deadline (December 18, 2024) will receive $1,021.90 per $1,000 principal amount, including a $30.00 early tender payment. Those tendering after the Early Tender Deadline but before January 6, 2025, will receive $991.90 per $1,000 principal amount.
The tender offer is contingent upon Genesis receiving sufficient net proceeds from future senior notes offerings to fund the purchase. The company intends, but is not obligated, to redeem additional notes after the tender offer completion.
Genesis Energy (NYSE: GEL) has announced a public offering of $400 million senior notes due 2033. The notes will be co-issued with Genesis Energy Finance and guaranteed by all subsidiaries except unrestricted ones. The company plans to use the proceeds to purchase or redeem up to $385 million of its outstanding 8.0% senior notes due 2027 and for general partnership purposes, including repaying revolving borrowings under its senior secured credit facility. Wells Fargo Securities is leading the offering as the primary underwriter.
Genesis Energy (NYSE: GEL) has published its 2023 Sustainability Report, highlighting the company's progress in corporate sustainability initiatives and performance metrics throughout 2023. The report, available on the company's website, covers various sustainability topics relevant to their industry operations.
Genesis Energy operates as a diversified midstream energy master partnership, with operations spanning offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation. Their operations are primarily concentrated in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico.
Genesis Energy (NYSE: GEL) reported third quarter 2024 results with a net loss of $17.2 million, compared to net income of $58.1 million in Q3 2023. Cash flows from operating activities decreased to $87.3 million from $141.0 million year-over-year. The company generated Total Segment Margin of $151.1 million and Adjusted EBITDA of $136.7 million.
The company faced challenges in its offshore pipeline and soda ash businesses, with unexpected delays at Winterfell and Warrior developments, and operational issues at the Westvaco facility. Despite these setbacks, management remains confident in long-term growth prospects starting in 2025, with minimal future capital expenditures planned.
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.
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