Genesis Energy ( (GEL) ) has released its Q4 earnings. Here is a breakdown of the information Genesis Energy presented to its investors.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership based in Houston, Texas, operating primarily in the offshore pipeline transportation, soda and sulfur services, onshore facilities and transportation, and marine transportation sectors.
In its fourth quarter 2024 earnings report, Genesis Energy reported a net loss of $49.4 million, a significant decline from a net income of $12 million in the same period in 2023. The company also highlighted cash flows from operating activities of $74 million, down from $124.8 million a year earlier, and declared cash distributions on preferred units amounting to $21.9 million.
Key financial metrics for the quarter included a Total Segment Margin of $172.5 million, Adjusted EBITDA of $160.6 million, and an Adjusted Consolidated EBITDA of $706.4 million for the trailing twelve months. The company has been focusing on completing its capital-intensive expansion projects, notably in the offshore pipeline and soda ash production segments, with expectations of turning cash flow positive later in 2025.
Looking ahead, Genesis Energy anticipates a positive shift in financial performance, driven by the completion of its major expansion projects and expected growth in its offshore pipeline transportation segment. The company remains optimistic about its ability to deliver sequential growth in 2025, particularly from its offshore developments and marine transportation segment, despite ongoing challenges in the soda ash market.
Genesis Energy’s management is confident in the company’s strategic positioning and financial flexibility, aiming to leverage increasing cash flows to manage its leverage ratio and return capital to unitholders, while continuing to focus on long-term value creation for all stakeholders.