DexCom earnings beat by $0.03, revenue topped estimates
HOUSTON - On Thursday, Genesis Energy, L.P. (NYSE:GEL) reported a wider-than-expected loss for the first quarter of 2025 as revenue declined year-over-year.
The company’s stock was unchanged in premarket trading following the earnings release.
The midstream energy company posted a net loss of $0.60 per unit for Q1, compared to analyst estimates of a $0.22 per unit loss. Revenue came in at $398.31 million, down from $434.45 million in the same quarter last year.
Genesis Energy’s results were impacted by several factors, including lower volumes in its offshore pipeline transportation segment due to producer-related mechanical issues affecting major fields connected to its infrastructure. The company also saw declines in its marine transportation and onshore transportation and services segments.
"While the results from our remaining businesses during the quarter came in slightly below our original expectations, I am happy to report we have successfully reached our targeted inflection point where our capital-intensive growth projects in the Gulf of America are all but complete and paid for," said CEO Grant Sims.
The company recently completed the sale of its soda ash business for $1.425 billion, using the proceeds to pay down debt and repurchase preferred units. Genesis Energy expects its offshore expansion projects, including the Shenandoah and Salamanca developments, to begin contributing to results later this year.
For full-year 2025, Genesis Energy forecasts adjusted EBITDA of $545-$575 million.
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