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Genesis Energy Q3 2026 Earnings Results
Genesis Energy reports modest Q3 2026 earnings with 9% revenue growth but declining net income amid operational delays.
In brief
Genesis Energy reports modest Q3 2026 earnings with 9% revenue growth but declining net income amid operational delays. Genesis Energy reported $449.3 million Q3 2026 revenue, a 9% increase from 2025, but net income dropped to $2.4 million from $9.2 million due to production delays. Originally reported by The Motley…
Q3 2026 Results
Genesis Energy reported $449.3 million revenue, a 9% increase from Q3 2025.
Net Income Decline
Net income attributable to Genesis Energy dropped to $2.4 million from $9.2 million in Q3 2025.
Adjusted EBITDA
Adjusted EBITDA reached $130.5 million, down from $132.0 million in Q3 2025.
Offshore Pipeline Margin
Offshore pipeline transportation segment margin decreased to $97.8 million due to producer downtime.
Marine Transportation Margin
Marine transportation segment margin increased 12% year over year with higher utilization.
Onshore Transportation Margin
Onshore transportation and services segment margin rose 5% with higher Texas pipeline volumes.
Bank Leverage Ratio
Bank leverage ratio stood at 5.03x based on $607.5 million trailing 12-month EBITDA.
Available Cash
Available cash before reserves totaled $38.6 million, covering 1.58x common unit distribution.
Quarterly Distribution
Quarterly distribution increased 21% to $0.20 per common unit.
Series A Preferred Units
Series A cumulative preferred units reduced from $529 million to $311 million face value.
Unrestricted Cash
Unrestricted cash stood at $41.5 million as of September 30, 2026.
Senior Secured Credit
Senior secured credit facility maintained $900 million capacity with no borrowings.
Monument Field Production
Monument field production expected to reach 20,000 to 25,000 barrels per day in Q1 2027.
Salamanca Design Capacity
Salamanca design capacity projected at 60,000 to 70,000 barrels per day by early 2027.
Marine Fleet Utilization
Marine fleet utilization reached 100% with robust negotiated spot rates.
Inland Fleet Status
90% of inland barge fleet available for re-contracting after December 31, 2026.
The big picture
Genesis Energy reported $449.3 million Q3 2026 revenue, a 9% increase from 2025, but net income dropped to $2.4 million from $9.2 million due to production delays.
