UBS Cuts Price Target as Genesis Energy (GEL) Faces Headwinds
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Genesis Energy, L.P. Reports Fourth Quarter 2015 Results
February 18, 2016 6:30 AM ESTHOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) today announced its fourth quarter results. Our results for the quarter ended December 31, 2015 included the following items:
We generated a record amount of total Available Cash before Reserves of $102.3 million in the fourth quarter of 2015, an increase of $39.4 million, or 63%, from the fourth quarter of 2014. Adjusted EBITDA for the fourth quarter of 2015 was $137.6 million, an increase of $55.1 million, or 67%, over the prior year quarter. Available Cash before Reserves and Adjusted EBITDA are non-GAAP measures that are defined and... More