Genesis Energy reports Q1 cont-op EPS (6c) vs. (60c) last year

Reports Q1 revenue $446.56M vs. $398.31M last year. CEO Grant Sims said, “Our Q1 results for 2026 in the aggregate came in slightly below our internal expectations. Most of our businesses performed in line with our expectations, with the exception of our offshore pipeline transportation segment, despite being up 40% year over year. Consistent with what we communicated in February, we always thought 2026 was going to be a year shaped by the timing of producer activity and our heavier marine dry-docking calendar, and Q1 reflects that dynamic rather than any substantive change in the underlying trajectory of our businesses. We continue to see encouraging progress across our businesses and remain constructive on the outlook for the remainder of the year…Taken together, we believe we remain on track to deliver full-year 2026 Adjusted EBITDA at or near the midpoint of the range we discussed on our year-end call, which contemplated plus or minus 15% to 20% growth over our normalized 2025 baseline of approximately $500M-$510M…we took several key steps during the quarter to further strengthen our balance sheet, substantially increase our financial flexibility and ultimately reduce the ongoing financing costs of our business.”