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NGL Energy Partners (NGL) Reports Q2 Loss of $0.63, Revenues Beat

November 8, 2018 6:37 AM EST

NGL Energy Partners (NYSE: NGL) reported Q2 EPS of ($0.63), versus ($0.10) reported last year. Revenue for the quarter came in at $6.65 billion versus the consensus estimate of $4.94 billion.

“We are reporting our second consecutive quarter of record Adjusted EBITDA compared to the same quarters of the prior year. We believe we have successfully repositioned NGL over the past twelve months by raising $1.5 billion in asset sales at double digit multiples, lowering leverage substantially and expanding our Water Solutions business in the Permian Basin. Our quarterly results came in very strong, particularly in the Crude Oil Logistics and Liquids segments, which are trending towards the higher end of our annual guidance,” stated NGL’s CEO Mike Krimbill. “Grand Mesa continues to outpace our projections and will benefit from increased volumes. Our Water Solutions business continues to grow as we execute on securing long-term contracts for wastewater disposal and build our water pipeline infrastructure. Our Refined Products profitability has shifted to the second half of the Fiscal Year. We are very proud of the progress we have made through the first half of this year and we are confident about our performance for the remainder of Fiscal 2019.”

For earnings history and earnings-related data on NGL Energy Partners (NGL) click here.



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