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Genesis Energy LP (GEL)
NYSE:GEL
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.16Last Year’s EPS
-0.6Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial highlights — notably robust offshore volume and margin growth, production ramps (Shenandoah and Salamanca), constructive lease activity in the Gulf, restored liquidity, a distribution increase (9.1% YoY), and guidance calling for ~15%–20% EBITDA growth in 2026. Headwinds are largely timing- and maintenance-related: planned customer turnarounds, a heavier Bluewater dry-docking schedule (estimated $5M–$10M margin impact and ~$15M–$20M higher maintenance CapEx), and guidance conservatism that embeds downtime assumptions. Overall, the positives (clear growth drivers, strong pipeline performance, balance sheet actions, and constructive long-term outlook) materially outweigh the manageable near-term operational constraints and conservatism in guidance.Company Guidance
Quarter Results Beat Expectations
Fourth quarter results came in slightly ahead of internal expectations with strong operating performance across core segments.
Offshore Pipeline Sequential and Annual Growth
Offshore pipeline transportation segment margin and total volumes increased sequentially (CHOPS ~19% and Poseidon ~16% vs Q3). From Q1 2025 to Q4 2025, segment margin rose roughly 57% and total volumes across both systems grew approximately 28%.
Shenandoah and Salamanca Production Ramp
Shenandoah FPU operated at or near its 100,000 barrels per day target from four Phase One wells. Salamanca continued ramping from its first three wells with an additional well scheduled in Q2 and potential fifth well in Q4; Salamanca expected to produce 50,000–60,000 barrels per day when wells are online.
Near-Term Development Opportunities
Monument two-well subsea tieback to Shenandoah expected to be completed and flowing by late 2026/early 2027. A fifth well at Shenandoah could increase throughput to ~120,000 bpd with upside of 10,000–20,000 bpd in early 2027. At least eight additional development/tieback wells at legacy facilities are planned over the next 12–15 months.
Supportive Geological/Policy Backdrop
BOEM BBG-1 lease sale generated over $300,000,000 in high bids for ~1,000,000 acres; combined with recent lease sales, >4,400,000 acres leased in federal Gulf waters over three years with ~53% in the Central Gulf, reinforcing long-term Gulf of Mexico opportunities.
Marine Transportation Stabilization
Marine segment returned to normalized operating performance as refiners increased runs of heavy crude and equipment utilization improved; Bluewater market conditions described as transitory issues that have largely passed.
Liquidity and Capital Allocation Actions
Exited the year with effectively zero drawn on the $800,000,000 senior secured revolver after cash on hand. Board increased quarterly common unit distribution to $0.18 per unit (9.1% year-over-year increase) and management opportunistically purchased $25,000,000 of corporate preferred units.
Forward Financial Outlook
Management expects 2026 adjusted EBITDA to deliver sequential growth of approximately 15%–20% versus a normalized 2025 adjusted EBITDA baseline of $500,000,000–$510,000,000, with potential to exceed the top end if activity timing is favorable.
Balance Sheet and Leverage Targets
Bank-calculated leverage was ~5.12x at 12/31/2025 with a long-term target leverage of ~4.0x; management expects leverage to improve via debt paydown and rising LTM EBITDA.
GEL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GEL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $17.38 | $17.09 | -1.67% |
Oct 30, 2025 | $15.65 | $15.67 | +0.13% |
Jul 31, 2025 | $16.16 | $17.00 | +5.18% |
May 08, 2025 | $13.92 | $13.53 | -2.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Genesis Energy LP (GEL) report earnings?
Genesis Energy LP (GEL) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is Genesis Energy LP (GEL) earnings time?
Genesis Energy LP (GEL) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GEL EPS forecast?
GEL EPS forecast for the fiscal quarter 2026 (Q1) is 0.16.