NGL ENERGY PARTNERS LP
6.40-0.04 (-0.62%)
Oct 29, 4:00:02 PM EDT · NYSE · NGL · USD
Key Stats
Market Cap
818.22MP/E (TTM)
-Basic EPS (TTM)
-0.60Dividend Yield
0%Recent Filings
10-Q
Q1 FY2026 results
NGL Energy Partners LP posted solid Q1 FY2026 results, with continuing operations revenue dipping 18% y/y to $622.2M on lower crude oil and NGL volumes, yet operating income climbed 19% to $97.5M thanks to robust Water Solutions growth and gains from asset sales. Water Solutions shone, processing 3.0M barrels per day (up 17% y/y) on higher produced water volumes, while Crude Oil Logistics softened with 2.4M barrels sold (down 24% y/y) amid DJ Basin production dips. Liquids Logistics swung to a $23.7M operating profit from a prior loss, boosted by the April 2025 Wholesale Propane Disposition for $154.9M cash, recognizing $56.6M gain. Cash stood at $5.4M with $276.6M ABL availability; total debt fell to $2.9B, but seismic risks in disposal ops linger.
10-K
FY2025 results
NGL Energy Partners LP wrapped FY2025 with steady annual performance, posting $3.5B in revenue and $329M in operating income, up from $162M in FY2024, driven by Water Solutions' 25% volume surge to 2.6M barrels/day amid robust Delaware Basin activity. Q4 momentum accelerated as LEX II pipeline expansion hit full stride, boosting disposal capacity to 340,000 barrels/day and lifting segment income 35% y/y to $85M (derived), while skim oil sales edged up 7% on higher recoveries despite softer prices. Crude Oil Logistics held firm with $46M income, buoyed by new shipper tariffs on Grand Mesa, though Q4 volumes dipped 5% q/q from DJ Basin slowdowns; Liquids Logistics swung to $14M profit from a $13M loss, fueled by cold-weather propane demand spiking Q4 margins 20% q/q. Liquidity strengthened to $222M net current assets, with $3B debt refinanced at 8.4% blended rate maturing 2029-2032 and $700M Term Loan B; capex focused on $176M expansion, no buybacks or dividends reinstated. No annual guidance issued, but Q1 outlook hinges on sustained drilling. Seismic risks from water injection could curb Q4 disposal volumes if regulators tighten further.
10-Q
Q3 FY2025 results
NGL Energy Partners LP posted Q3 FY2025 revenues of $1.5B, down 17.1% y/y from $1.9B amid softer crude oil logistics volumes and liquids pricing, yet operating income held at $75.5M, off 25.8% y/y, buoyed by Water Solutions' steady $187M topline and 34.9% gross margin. Adjusted EBITDA dipped to $148M from $152M y/y, reflecting biodiesel wind-down costs, while free cash flow (derived) turned negative at -$65M after $208M capex, contrasting $104M positive last year. Debt climbed to $3.1B with $226M ABL draw, but $5.7M cash and $286M revolver availability support liquidity; recent ranch sales added $77M proceeds. Competition in liquids logistics squeezes margins as rivals consolidate.
10-Q
Q2 FY2025 results
NGL Energy Partners LP posted Q2 FY2025 revenue of $1.35B, down 26.5% y/y from $1.84B amid softer crude oil logistics volumes and liquids pricing, yet operating income held steady at $78M, off 9.7% y/y, buoyed by Water Solutions' 23.2% y/y surge to $73M on 12.1% higher produced water processed (derived). Gross margins compressed to 17.1% from 14.2% y/y, reflecting commodity headwinds, while diluted EPS swung to a $0.21 loss from $0.05, tied to $31M preferred distributions outpacing $2.5M net income attributable to common unitholders. Cash dipped to $4.5M from $38.9M ytd, with FCF not disclosed in the 10-Q; debt climbed to $3.13B including $274M ABL draw, but revolver availability stood at $246.6M with no covenant breaches. Sold non-core assets for $81M net ytd, trimming leverage. Competition from alternative energy sources poses ongoing margin pressure.
8-K
Director resigns post-unit sale
NGL Energy Partners LP announced the resignation of board director Randall S. Wade, effective October 30, 2024, triggered by the recent sale of all Class D Preferred Units by EIG Neptune Equity Aggregator, L.P., FSSL Finance BB Assetco LLC, and FS Energy and Power Fund. This move aligns with the company's Operating Agreement provisions. The board loses a key member. No replacement or further impacts disclosed.
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