Genesis expects 2026 Adjusted EBITDA at the lower end of its previously discussed range.
The company sees potential upside to 2026 results if hurricane season is calmer than budgeted.
Genesis anticipates offshore volumes to grow meaningfully over the coming years.
Segment drivers
Offshore pipeline transportation - Segment margin increased due to new production volumes from Shenandoah and Salamanca fields.
Marine transportation - Segment margin decreased due to planned dry-docking days and slightly lower inland barge day rates.
Onshore transportation & services - Segment margin increased due to higher volumes on crude oil pipeline systems and non-recurring margin opportunities.
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the oil & gas transportation services peer group is "buy".
Wall Street's median 12-month price target for Genesis Energy LP is $20.00, about 34.6% above its August 5 closing price of $14.86.
The stock recently traded at 85 times the next 12-month earnings vs. a P/E of 20 three months ago.
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