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Genesis Energy
(NYSE:GEL)
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Rating:55Neutral
Price Target:
$14.50
â–¼(-13.84% Downside)
Action:Reiterated
Date:05/11/26
The score is mainly held back by high leverage and a very thin equity cushion despite improving TTM profitability and free cash flow. The earnings call adds support through reaffirmed 2026 EBITDA growth expectations and tangible financing-cost reductions, while technicals remain weak with negative momentum. Valuation is mixed, with a solid yield but a relatively high P/E.
Positive Factors
Dedicated offshore backlog
Management describes a multi-project offshore backlog with decades of dedicated production and several tiebacks that add contracted volumes without incremental Genesis capital. That structurally boosts fee-bearing throughput, preserves capital resources, and supports long-term revenue visibility and asset utilization.
Negative Factors
Very high leverage
The balance sheet shows very high absolute debt and an extremely thin equity base, leaving limited loss-absorbing capacity. Elevated leverage constrains financial flexibility, magnifies earnings volatility impact on equity, and limits the company’s ability to pursue growth or withstand commodity or operational shocks without dilutive or costly financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Dedicated offshore backlog
Management describes a multi-project offshore backlog with decades of dedicated production and several tiebacks that add contracted volumes without incremental Genesis capital. That structurally boosts fee-bearing throughput, preserves capital resources, and supports long-term revenue visibility and asset utilization.
Read all positive factors
Genesis Energy Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how sales are split across the company’s lines of business, exposing dependence on particular markets, customers, or commodity-driven revenues. Useful for evaluating revenue diversification, sensitivity to price and volume swings, and which segments are actually growing top‑line sales before expenses.
Shows how sales are split across the company’s lines of business, exposing dependence on particular markets, customers, or commodity-driven revenues. Useful for evaluating revenue diversification, sensitivity to price and volume swings, and which segments are actually growing top‑line sales before expenses.
Data provided by:
The Fly
The FlyGenesis Energy (GEL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.83B
Dividend Yield4.14%
Average Volume (3M)380.77K
Price to Earnings (P/E)―
Beta (1Y)0.42
Revenue Growth-35.30%
EPS Growth88.99%
CountryUS
Employees1,061
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)-0.18
Shares Outstanding122,424,324
10 Day Avg. Volume196,190
30 Day Avg. Volume380,774
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)8.02
Price to Sales (P/S)1.17
P/FCF Ratio21.63
Enterprise Value/Market Cap2.68
Enterprise Value/Revenue2.92
Enterprise Value/Gross Profit13.05
Enterprise Value/Ebitda8.35
Forecast
1Y Price Target
$22.00Price Target Upside30.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.06
Revenue Forecast (FY)$1.69B
Genesis Energy Business Overview & Revenue Model
Company Description
Genesis Energy, L.P. is a key player in the midstream sector of the crude oil and natural gas industry. Its Offshore Pipeline Transportation segment is dedicated to the movement and handling of crude oil and natural gas via offshore pipelines. Thi...
How the Company Makes Money
Genesis Energy makes money by charging fees for midstream logistics services and by generating margins from certain commodity-linked services, organized across its operating segments. (1) Pipeline Transportation: GEL earns revenue from tariffs/fee...
Genesis Energy Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call balanced near-term operational headwinds (e.g., Shenandoah volume pullback, dry-docking impacts, sulfur service disruptions) with strong longer-term fundamentals: robust offshore backlog, significant balance sheet/financing improvements that lower annual interest expense, high marine utilization, and multiple future tiebacks that add dedicated volumes without incremental Genesis capital. Management reaffirmed 2026 adjusted EBITDA expectations at or near the midpoint of the prior range and highlighted material optionality to further reduce financing costs.Positive Updates
Offshore Pipeline Transportation YoY Growth
Offshore segment revenue/volumes were up ~40% year-over-year, driven by new deepwater production coming online (e.g., Shenandoah initial flows), underscoring strong demand through Genesis-owned infrastructure.
Negative Updates
Quarter Slightly Below Expectations
Aggregate first-quarter results came in 'a touch below' internal expectations; Offshore segment, while +40% YoY, missed near-term internal expectations due to scheduled producer turnarounds and a step-back in Shenandoah flows.
Read all updates
Q1-2026 Updates
Positive
Negative
Offshore Pipeline Transportation YoY Growth
Offshore segment revenue/volumes were up ~40% year-over-year, driven by new deepwater production coming online (e.g., Shenandoah initial flows), underscoring strong demand through Genesis-owned infrastructure.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance targeting adjusted EBITDA at or near the midpoint of the February range, which called for 15%–20% growth over a normalized 2025 baseline of roughly $500–$510 million (implying a 2026 adjusted EBITDA range of about $575M–$612M and a midpoint near $594M); they did lower expected 2026 segment margin from the Shenandoah field by about $12M–$15M versus prior guidance but still expect to hit the midpoint overall. On the balance sheet, completed transactions (a $750M senior unsecured note at 6.75%, tender/redemption of 7.75% 2028 notes, an upsized revolver and ~$135M repurchase of Series A preferreds) are reducing annual financing costs by ~ $12M today (remaining Series A face ≈ $394M), with additional refinancing/remediation opportunities that management estimates could free up roughly $20M (refinancing Series A) to $45M (full redemption) and another ~$35M from refinancing other bonds — together representing up to ~$80M+ of potential annual savings — and a target leverage of ~4x; operationally marine utilization is ~100% (blue-water days down ≈16% in Q1 for dry docks) and Salamanca is producing just over 40,000 bpd.Genesis Energy Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
33
Negative
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.68B | 1.63B | 2.97B | 3.18B | 2.79B | 2.13B |
| Gross Profit | 376.10M | 344.53M | 315.53M | 395.20M | 637.82M | 136.88M |
| EBITDA | 588.00M | 528.11M | 557.31M | 661.64M | 571.22M | 407.11M |
| Net Income | 35.47M | -8.21M | -63.95M | 117.72M | 75.46M | -165.07M |
Balance Sheet | ||||||
| Total Assets | 4.84B | 4.86B | 7.04B | 7.07B | 6.38B | 5.92B |
| Cash, Cash Equivalents and Short-Term Investments | 4.21M | 6.44M | 10.75M | 28.04M | 26.57M | 24.99M |
| Total Debt | 3.18B | 3.05B | 4.35B | 4.00B | 3.60B | 3.12B |
| Total Liabilities | 4.30B | 4.15B | 5.52B | 5.36B | 4.60B | 3.94B |
| Stockholders Equity | 68.37M | 238.18M | 1.10B | 1.34B | 1.47B | 1.43B |
Cash Flow | ||||||
| Free Cash Flow | 189.07M | 88.33M | -195.21M | -98.89M | -89.80M | 36.56M |
| Operating Cash Flow | 320.45M | 275.22M | 391.93M | 521.13M | 334.39M | 337.95M |
| Investing Cash Flow | -101.26M | 878.36M | -552.16M | -593.65M | -374.52M | -274.12M |
| Financing Cash Flow | -592.34M | -1.18B | 161.74M | 73.99M | 41.70M | -65.86M |
Genesis Energy Technical Analysis
Negative
16.83
Price Trends
15.38
Negative
16.42
Negative
16.06
Negative
Market Momentum
-0.20
Negative
46.15
Neutral
76.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GEL, the sentiment is Negative. The current price of 16.83 is above the 20-day moving average (MA) of 14.45, above the 50-day MA of 15.38, and above the 200-day MA of 16.06, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 46.15 is Neutral, neither overbought nor oversold. The STOCH value of 76.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GEL.
Genesis Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
88 Outperform | $3.95B | 7.39 | 15.85% | 3.19% | -2.77% | 1.00% | |
84 Outperform | $2.40B | 5.82 | 21.40% | 3.72% | -2.29% | 31.43% | |
83 Outperform | $4.11B | 7.92 | 27.13% | 6.12% | 14.50% | 69.57% | |
69 Neutral | $1.63B | 13.34 | 18.84% | 6.93% | 9.54% | 13.40% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $2.90B | 17.27 | 1917.10% | 9.78% | 13.04% | 6.21% | |
55 Neutral | $1.83B | -80.91 | 16.91% | 4.14% | -35.30% | 88.99% |
* Energy Sector Average
GEL
Genesis Energy
14.56
-1.68
-10.37%
GLP
Global Partners
48.33
0.08
0.17%
STNG
Scorpio Tankers
79.32
34.97
78.85%
TNK
Teekay Tankers
72.45
29.07
66.99%
DKL
Delek Logistics
54.21
14.00
34.81%
INSW
International Seaways
88.48
53.70
154.41%
Genesis Energy Corporate Events
Executive/Board Changes
Genesis Energy Announces Retirement of Board Member Davison
Neutral
Jun 26, 2026
Genesis Energy, L.P., a master limited partnership in the energy infrastructure sector, operates through a general partner overseen by a board of directors responsible for the partnership’s governance.On June 26, 2026, board member James E. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.