Genesis Energy

Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment. The Sodium Minerals and Sulfur Services segment comprises Alkali and sulfur removal business. The Onshore Facilities and Transportation segment owns and leases suite of onshore crude oil and refined products infrastructure, including pipelines, trucks, terminals, railcars, and rail loading. The Marine Transportation segment provides transportation services by tank barge primarily for refined petroleum products, including heavy fuel oil and asphalt, as well as crude oil. The company was founded in 1996 and is headquartered in Houston, TX.

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Genesis Energy reports robust Q4 earnings, eyes growth opportunities

Genesis Energy's Q4 2022 performance reflects financial strength and operational resilience, with a focus on improving leverage and capital structure. The company is optimistic about 2023, aiming to capitalize on growth opportunities in its core business segments and enhance shareholder value through potential capital returns.

Genesis Energy resilient in Q1 amidst challenges, eyes growth

Genesis Energy faced challenges in Q1 2023 due to cold weather impacting soda ash business, but reaffirmed its financial guidance, showcasing resilience and confidence.
The company's strong balance sheet, focus on long-term value creation, and positive performance in key segments position it well for future growth and profitability.
While challenges persist, opportunities in the transitioning soda ash market and strong performance in key segments offer avenues for continued success and value creation.
Management changes and ESG commitments underscore the company's strategic focus on sustainable growth and value creation, aligning with evolving market trends and investor preferences.

Genesis Energy surpasses Q2 expectations, anticipates significant cash flow growth

Genesis Energy delivered strong Q2 results, exceeding expectations and adjusting full-year guidance upwards. While facing challenges in some segments, the company remains optimistic about long-term prospects and anticipates significant cash flow growth. Genesis is focused on completing its capital program and enhancing shareholder returns.

Genesis Energy (GEL) surpasses Q3 expectations, eyes long-term growth

Genesis Energy's Q3 performance exceeded expectations, with a strong focus on long-term growth and value creation across its diversified business segments.
Despite short-term challenges in pricing and lease issues, the company remains optimistic about its fundamentals and is committed to returning value to stakeholders.
With a strategic approach to capital allocation and a resilient business model, Genesis Energy is poised for sustained growth and value creation in the future.

Genesis Energy (GEL) exceeds EBITDA guidance, eyes long-term growth

Genesis Energy's Q4 2023 earnings call highlighted strong financial performance, challenges in the soda ash business, and a focus on long-term value creation. Despite facing pricing pressures, the company remains optimistic about future growth opportunities and is committed to enhancing shareholder value.

Genesis Energy reports strong Q1 earnings, eyes improved pricing

Genesis Energy's Q1 2024 earnings call highlighted solid performance in Offshore Pipeline and Marine Transportation segments. Challenges persist in the Soda and Sulfur Services segment, with opportunities for improved pricing. Management's focus on financial strength and capital allocation positions the company well for future growth.

Genesis Energy projects strong growth, diversification drives resilience

Genesis Energy is poised for strong financial performance and growth, with a focus on long-term value creation and shareholder rewards.
Despite challenges in the Offshore segment, the company's diversified business model and strategic priorities support resilience and opportunity.
Opportunities for growth exist in new developments, improved market dynamics, and efficient capital allocation strategies.
Overall, Genesis Energy's performance, strengths, and opportunities outweigh challenges, positioning the company for sustained success and value creation.

Genesis Energy faces challenges but eyes growth in 2025

Genesis Energy navigated challenges in Q3 2024, with a focus on improving financial performance by year-end and anticipating growth in 2025.
Despite hurdles in the Offshore and Soda and Sulfur Services segments, the company remains committed to safe operations and long-term value creation.
Efforts to evaluate cost-cutting measures and generate excess cash flow by 2025 position Genesis Energy for future growth and financial stability.
Management's confidence in overcoming current challenges and delivering on financial goals underscores the company's resilience and strategic focus.

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The sale of the 36% stake in CHOPS was considered in the credit downgrade. However, the debt leverage as calculated for debt covenant purposes is ~1.0x lower than how it is calculated by Moody's.

Genesis Energy: Sale Of 36% Stake Was In Fact Included In The Moody's Downgrade

We believe that Moody's downgrade of Genesis Energy debt last week likely ignored the credit accretive sale of 36% stake in CHOPS. We remain positive on Genesis Energy outlook.

Genesis Energy: Moody's Downgrade Likely Ignored Credit Accretive Sale Of 36% Stake In CHOPS

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the BofA Securities 2021 Virtual Leveraged Finance Conference. The conference is being held virtually on November 30th and December 1st. The Partnership's latest presentation materials are available and may be downloaded by visiting the Partnership's website at www.genesisenergy.com under “Presentations” under the Investors tab. Genesis Energy, L.P. is a diversified midstream energy master lim

Genesis Energy, L.P. to Participate in the BofA Securities 2021 Virtual Leveraged Finance Conference

Sale of 36% stake in CHOPS not only deleverages the balance sheet, but also values the offshore business at ~12x 2023E EBITDA vs the ~8.5x implied in Street valuations.

Genesis Energy: Positive On Sale Of 36% Stake In CHOPS Offshore Pipeline

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today the closing of the sale of a 36% minority equity interest in its Cameron Highway Oil Pipeline System (“CHOPS”) to an undisclosed financial party at an 8/8ths valuation of $1.16 billion, which results in gross proceeds to Genesis of approximately $418 million. Proceeds from the sale, net of fees and expenses, will be used to repay the full $300 million outstanding under its term loan with the remainder going to pay down o

Genesis Energy, L.P. Sells 36% Minority Equity Interest in its Cameron Highway Oil Pipeline System

Following the first half of 2021, it appeared that the heavily impacted Genesis Energy had finally turned a corner with tentative signs of a recovery underway. Sadly this has not lasted into the third quarter of 2021 with the recovery subsequently stalling.

Genesis Energy: High Stakes With A Possible Liquidity Crisis As Soon As Early 2022

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Genesis Energy, L.P. (GEL) CEO Grant Sims on Q3 2021 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced its third quarter results. We generated the following financial results for the third quarter of 2021: Net Loss Attributable to Genesis Energy, L.P. of $20.9 million for the third quarter of 2021 compared to Net Loss Attributable to Genesis Energy, L.P. of $29.7 million for the same period in 2020. Cash Flows from Operating Activities of $54.2 million for the third quarter of 2021 compared to $143.5 million for the same

Genesis Energy, L.P. Reports Third Quarter 2021 Results

Genesis Energy is an over-levered small-cap midstream MLP that cut its distribution last year from $2.20/unit to $0.60/unit, and the stock collapsed amid the onset of Covid19.

Genesis Energy: Why We Believe The Units Could Triple Over The Next 3 Years

Genesis Energy continues to see their unit price suffer throughout 2021 with them being one of the heaviest impacted Master Limited Partnerships by Covid-19.

Genesis Energy: Finally Turning A Corner But Right As Delta Risks Loom Large

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the Citi One-on-One Midstream and Energy Infrastructure Virtual Conference. The conference is being held virtually on August 18th and 19th. The Partnership's latest presentation materials are available and may be downloaded by visiting the Partnership's website at www.genesisenergy.com under “Presentations” under the Investors tab. Genesis Energy, L.P. is a diversified midstream energy master

Genesis Energy, L.P. to Present at the Citi One-on-One Midstream and Energy Infrastructure Virtual Conference

Genesis Energy, L.P. (GEL) CEO Grant Sims on Q2 2021 Results - Earnings Call Transcript

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Why Phillips 66, Genesis Energy, and W&T Offshore Stocks are Getting Crushed Today

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced its second quarter results. We generated the following financial results for the second quarter of 2021: Net Loss Attributable to Genesis Energy, L.P. of $41.7 million for the second quarter of 2021 compared to Net Loss Attributable to Genesis Energy, L.P. of $326.7 million for the same period in 2020, which was inclusive of non-cash impairment charges of $277.5 million. Cash Flows from Operating Activities of $111.0 mil

Genesis Energy, L.P. Reports Second Quarter 2021 Results

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DALLAS, July 1, 2021 /PRNewswire/ -- Cushing® Asset Management, LP, and Swank Capital, LLC, announce today the upcoming rebalancing of The Cushing ® MLP High Income Index (the "Index") as part of normal index operations. After the markets close on July 9, 2021, the 30 constituents of the Index will be rebalanced, and the following changes will become effective on July 12, 2021: Constituents added: Oasis Midstream Partners LP (NASDAQ: OMP)Höegh LNG Partners LP (NYSE: HMLP) Constituents removed: DCP Midstream, LP (NYSE: DCP)Genesis Energy, L.P.

Cushing® Asset Management and Swank Capital Announce Rebalancing of the Cushing® MLP High Income Index

Genesis Energy is a highly levered partnership that had a very rough go of it in 2020. It's been shunned by many.

Genesis Energy: A Clever Way To Play Lithium

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the BofA Securities 2021 Energy Credit Conference. The conference is being held virtually on Wednesday, June 9th, 2021 and Thursday, June 10th, 2021. The Partnership's latest presentation materials are available and may be downloaded by visiting the Partnership's website at www.genesisenergy.com under “Presentations” under the Investors tab. Genesis Energy, L.P. is a diversified midstream ener

Genesis Energy, L.P. to Present at the BofA Securities 2021 Energy Credit Conference

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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the 2021 Energy Infrastructure Council (“EIC”) Investor Conference. The conference is being held in person and virtually on Tuesday, May 18th, 2021 through Thursday, May 20th, 2021. Genesis will be attending virtually. The Partnership's latest presentation materials are available and may be downloaded by visiting the Partnership's website at www.genesisenergy.com under “Presentations” under th

Genesis Energy, L.P. to Present at the 2021 EIC Investor Conference

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the Citi 2021 Global Energy and Utilities Virtual Conference. The conference is being held virtually on May 11th and 12th. The Partnership's latest presentation materials are available and may be downloaded by visiting the Partnership's website at www.genesisenergy.com under “Presentations” under the Investors tab. Genesis Energy, L.P. is a diversified midstream energy master limited partnersh

Genesis Energy, L.P. to Present at the Citi 2021 Global Energy and Utilities Virtual Conference

Genesis Energy was facing a very scary situation earlier in 2020 with them coming within a month of breaching their credit facility leverage ratio covenant.

Genesis Energy: Last Minute Debt Refinancing Saves The Day, But Still Skating On Thin Ice

Genesis Energy, L.P. (GEL) CEO Grant Sims on Q1 2021 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced its first quarter results. We generated the following financial results for the first quarter of 2021: Net Loss Attributable to Genesis Energy, L.P. of $34.2 million for the first quarter of 2021, compared to Net Income Attributable to Genesis Energy, L.P. of $24.9 million for the same period in 2020. Cash Flows from Operating Activities of $77.2 million for the first quarter of 2021 compared to $89.6 million for the sam

Genesis Energy, L.P. Reports First Quarter 2021 Results

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) (“Genesis” or the “Company”) today announced the pricing of a registered, underwritten public offering of $250,000,000 in aggregate principal amount of 8.0% senior unsecured notes due 2027. The offering was upsized from the previously announced $200,000,000 in aggregate principal amount of the notes. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation (“GEFC”), and will be guaranteed, with certain excepti

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