NGL Energy Partners (NGL)
NYSE:NGL
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Earnings Data
Report Date
Aug 06, 2026Before Open (Confirmed)
Period Ending
2027 (Q1)Consensus EPS Forecast
0.15Last Year’s EPS
0.04Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational momentum driven by record Water Solutions performance, meaningful volume growth (Q4 +10% and full-year +11%), successful refinancing actions (including a $950M refinancing and preferred redemptions), executed buybacks, and a clear growth project pipeline (LEX II expansion). Management also provided constructive 2027 guidance (~10% EBITDA growth) and conservative capex guidance. Key risks noted include a recent goodwill impairment, remaining high-cost preferred exposure that requires further paydown, concentration of growth in Water Solutions, and near-term absorption of incremental pipeline costs. Overall, the positive operational and balance-sheet developments and upward guidance materially outweigh the remaining capital-structure and concentration challenges.Company Guidance
Record Annual Adjusted EBITDA and Strong Q4
Adjusted EBITDA from continuing operations for fiscal 2026 was approximately $660 million (at the high end of guidance). Fourth-quarter adjusted EBITDA was approximately $176 million. Excluding the goodwill impairment charge, income from continuing operations was approximately $70 million for the quarter.
Water Solutions Delivered Record Performance
Water Solutions generated record adjusted EBITDA of approximately $153 million in Q4 and approximately $603 million for the full year, driving overall adjusted EBITDA growth of ~11% year-over-year for the partnership.
Material Volume Growth in Water Disposal
Produced water disposal volumes in Q4 were approximately 3.0 million barrels per day (a 10% increase vs. prior-year Q4). Total volumes paid on in Q4 were ~3.1 million bpd vs. ~3.0 million bpd in prior-year Q4. Full-year disposal volumes averaged ~2.9 million bpd, up ~11% year-over-year. Committed disposal volumes rose from 45% to 53% over the fiscal year (an 8 percentage-point increase).
LEX II Expansion Increases Capacity and Visibility
Announced LEX II expansion adding ~165,000 bpd capacity, taking capability to ~560,000 bpd and expandable up to 650,000 bpd. Expansion is underwritten by a long-term volume commitment and adds a 4-township committed area in Eddy County.
Capital Structure Improvements and Refinancing
Completed a $950 million refinancing transaction that extended maturities and provided cash to reduce preferred units. Redeemed ~285,000 Class D preferred units and repaid/converted a significant portion of higher-cost capital, lowering interest expense and improving liquidity. Management reports no near-term debt maturities and solid year-end liquidity.
Share Buyback Execution
Partnership repurchased 8.7 million common units under the buyback program at an average price of $5.72 per unit as part of a $50 million repurchase program, which management cites as accretive and validating confidence in the strategy.
2027 Guidance and Capital Allocation
Guided consolidated adjusted EBITDA for fiscal 2027 to $715 million–$725 million, implying roughly 10% year-over-year growth at the high end. Capital guidance is ~$200 million of growth capex (bulk for LEX II) and ~$45 million of maintenance capex, with most LEX II spend expected in the first 2–3 quarters of fiscal 2027.
Stability Gains from Portfolio Simplification
Sale of wholesale propane and rack marketing businesses materially reduced quarterly EBITDA volatility and working-capital swings. Liquids Logistics now smaller, more stable and less seasonal; Q4 adjusted EBITDA for Crude Oil Logistics was ~$17 million and Liquids Logistics ~$17 million.
NGL 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
NGL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 28, 2026 | $16.28 | $17.10 | +5.04% |
Feb 03, 2026 | $11.89 | $11.86 | -0.25% |
Nov 04, 2025 | $6.78 | $8.57 | +26.40% |
Aug 07, 2025 | $4.00 | $4.50 | +12.50% |
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 NGL Energy Partners (NGL) report earnings?
NGL Energy Partners (NGL) is schdueled to report earning on Aug 06, 2026, Before Open (Confirmed).
What is NGL Energy Partners (NGL) earnings time?
NGL Energy Partners (NGL) earnings time is at Aug 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 NGL EPS forecast?
NGL EPS forecast for the fiscal quarter 2027 (Q1) is 0.15.