NGL - NGL Energy Preferred: Arrearage Getting Cleaned Up Shortly Great Income After
2024-02-10 22:21:33 ET
Summary
- NGL reported Q3 earnings slightly above expectations, with adjusted EBITDA at $151.7 million.
- Water volumes were lower than in Q2 due to customers keeping more water at the wells, affecting the water segment's results.
- The company plans to pay down the preferred unit arrearage and increase asset sales, providing confidence for future growth.
- Preferred units are close to 15% yield for low-risk paper.
NGL Third Quarter Update:
NGL Energy Partners ( NGL ) reported earnings last night (Feb 8th). They had already given a look at Q3 numbers before the recent bond issues and loan refinancings so numbers weren't a huge surprise on the whole....
NGL Energy Preferred: Arrearage Getting Cleaned Up Shortly, Great Income After