Genesis Energy L P Stock Price, News & Analysis

Genesis Energy, L.P. (NYSE: GEL) reported strong fourth-quarter results for 2022 with a net income of $42 million, reversing a net loss of $68.3 million in 2021. Operating cash flows totaled $81.8 million, while total segment margin reached $197.1 million. The company declared cash distributions on preferred units amounting to approximately $24 million. Adjusted EBITDA was $180.2 million, exceeding internal expectations despite unplanned downtime costing $10 million. Looking ahead, Genesis anticipates adjusted EBITDA of $780-$810 million for 2023, benefiting from a tight soda ash market and strong marine transportation demand.

Genesis Energy, L.P. (NYSE: GEL) will release its Fourth Quarter earnings for the period ending December 31, 2022, on February 22, 2023, before market opening.

The accompanying earnings conference call is scheduled for the same day at 8:00 a.m. Central time. Investors can access the call through Genesis Energy's website. A replay will be available about an hour post-event.

Genesis Energy, L.P. (NYSE: GEL) announced the expiration of its cash tender offer for 5.625% senior unsecured notes due 2024 on January 24, 2023, with $316.3 million (92.73%) of the notes validly tendered. The settlement date is expected on January 25, 2023. Remaining notes will be called for redemption according to the indenture’s terms. The company operates in offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation, primarily in the Gulf Coast region and Gulf of Mexico.

Forward-looking statements indicate uncertainty regarding future outcomes. No assurance can be provided that goals will be met.

Genesis Energy, L.P. (NYSE: GEL) has announced the pricing of a public offering of $500,000,000 in senior unsecured notes with an interest rate of 8.875%, maturing in 2030. This offering was upsized from an initial $400,000,000. The notes will be co-issued with Genesis Energy Finance Corporation and guaranteed by most subsidiaries. Proceeds will be used to redeem existing 5.625% senior notes due 2024 as part of a concurrent tender offer, while the remaining funds will support general partnership purposes, including repaying borrowings. The offering is set to close on January 25, 2023, pending customary conditions.

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.