NGL - NGL Energy Partners GAAP EPS of $0.19 misses by $0.01 revenue of $2.14B misses by $490M
- NGL Energy Partners press release ( NYSE: NGL ): Q3 GAAP EPS of $0.19 misses by $0.01 .
- Revenue of $2.14B (-1.4% Y/Y) misses by $490M .
- Adjusted EBITDA (1) for the third quarter of Fiscal 2023 of $193.3 million, compared to $147.7 million for the third quarter of Fiscal 2022; Adjusted EBITDA for the first nine months of Fiscal 2023 of $459.4 million, compared to $385.1 million for the comparable period of 2022
- Operating income for the Water Solutions segment of $59.7 million for the third quarter of Fiscal 2023, compared to $19.9 million for the third quarter of Fiscal 2022
- Record Water Solutions’ quarterly Adjusted EBITDA (1) of $121.7 million for the third quarter of Fiscal 2023, a 47.1% increase compared to the third quarter of Fiscal 2022 and a 16.2% increase over the immediately preceding fiscal quarter
- In the face of significant inflationary pressure, Water Solutions managed to reduce operating expense to $0.25 per barrel versus $0.27 per barrel in the immediately preceding fiscal quarter
- Record produced water volumes processed of approximately 2.43 million barrels per day during the third quarter of Fiscal 2023, growing 31.9% from the same period in the prior year and 7.1% over the immediately preceding fiscal quarter
- Increasing Water Solutions Adjusted EBITDA (2) guidance from $430 million plus to $440 million plus for Fiscal 2023
- Reduced $98.1 million in principal on unsecured notes and equipment financing note in the quarter
- Anticipate all 2023 unsecured notes to be repaid no later than June 30, 2023.
- Shares +1.75% .
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NGL Energy Partners GAAP EPS of $0.19 misses by $0.01, revenue of $2.14B misses by $490M