Genesis Energy Q2 FY26 returns to profit with net income of $42.9 million; revenue rises 41% to $532 million
GEL•Asset sale, financing and preferred repurchase
- Genesis sold non-core offshore natural gas assets for USD 95 million, set up a USD 99.5 million receivables securitization facility, repurchased USD 83 million of 11.24% Series A corporate preferred securities.
Second-quarter results improve on higher revenue and earnings
- Genesis Energy reported net income attributable to Genesis Energy, L.P. of USD 42.9 million, swinging from a net loss of USD 0.4 million.
- Revenue rose to USD 532 million from USD 377.35 million; cash flows from operating activities more than doubled to USD 180.7 million from USD 47 million.
- Total Segment Margin climbed to USD 169.48 million; GAAP operating income increased to USD 105.44 million from USD 67.72 million.
- Adjusted EBITDA rose to USD 171.53 million from USD 122.9 million; available cash before reserves increased to USD 78.32 million from USD 32.23 million.
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