NGL Energy Partners (NYSE: NGL) reported Q2 EPS of $0.02, $0.02 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $674.68 million versus the consensus estimate of $594.19 million.

Guidance Update:

NGL is increasing consolidated Adjusted EBITDA(2) guidance range to $650 million to $660 million versus previous guidance range of $615 million to $625 million for Fiscal 2026
NGL is increasing growth capital from $60 million to $160 million due to new contracts executed that are supported by 500,000 barrels per day of producer volume commitments
Due to the timing of the new contracts mentioned above, the in-service dates will be spread out over the next few months, such that the majority of the Adjusted EBITDA will be realized in Fiscal 2027. NGL expects Fiscal 2027 Adjusted EBITDA(2) to exceed $700 million

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