Genesis Energy (GEL) Posts Q4 Loss of $0.01/Share

Genesis Energy (NYSE: GEL) reported Q4 EPS of ($0.01), which may not compare with the analyst estimate of $0.36. Revenue for the quarter came in at $720.05 million versus the consensus estimate of $659.24 million.

• Net Income Attributable to Genesis Energy, L.P. of $15.5 million, resulting in a loss of $0.01 of net income per common unit for the fourth quarter of 2017 (after giving effect to distributions on our preferred units) compared to $22.1 million, or income of $0.19 per common unit, for the same period in 2016.
• Cash Flows from Operating Activities of $121.1 million for the fourth quarter of 2017 compared to $69.9 million for the same period in 2016, an increase of $51.2 million, or 73%, principally due to an increase in cash flows from operations reflecting a full quarter of our Alkali Business and a decrease in working capital needs.
• Available Cash before Reserves of $106.7 million for the fourth quarter of 2017, compared to $95.4 million for the same period in 2016, an increase of $11.3 million, or 12%. Available Cash before Reserves provided 1.71 coverage for the quarterly distribution of $0.51 per common unit attributable to the fourth quarter. We will pay distributions on our convertible preferred units in the form of 490,252 additional convertible preferred units.
• Adjusted EBITDA of $164.8 million for the fourth quarter of 2017, compared to $133.1 million for the same period in 2016, an increase of $31.7 million, or 23.8%. Our bank leverage ratio, calculated consistent with our credit agreement, is 5.34 as of December 31, 2017. These amounts are calculated and further discussed later in this press release.

For earnings history and earnings-related data on Genesis Energy (GEL) click here.

You May Also Be Interested In

• Grainger (GWW) Tops Q1 EPS by 2c, provides guidance
• Integer Holdings Corp (ITGR) Tops Q1 EPS by 2c ; Offers Guidance
• HarborOne Bancorp, Inc. (HONE) Tops Q1 EPS by 6c