NEW YORK - NGL Energy Partners LP (NYSE:NGL) reported second quarter fiscal 2025 results that fell short of analyst expectations, sending shares down 3% in after-hours trading on Tuesday.
The midstream energy company posted a net loss of $0.21 per common unit for the quarter ended September 30, 2024, compared to analyst estimates for earnings of $0.08 per unit. Revenue came in at $1.35 billion, below the consensus forecast of $1.58 billion.
NGL Energy Partners said adjusted EBITDA for Q2 was $147.3 million, down from $176.2 million in the same quarter last year. The company processed approximately 2.68 million barrels of produced water per day during the quarter, a 9.8% increase YoY.
"We continue to grow our disposed water volumes with the current quarter volumes increasing by approximately 9% over the preceding quarter," said CEO Mike Krimbill. However, he noted the company is lowering its full year adjusted EBITDA guidance to a range of $640 million to $650 million "as a result of projected warmer weather, lower crude oil prices and other Liquids Logistics results."
For the Crude Oil Logistics segment, physical volumes on the Grand Mesa Pipeline averaged approximately 63,000 barrels per day in Q2, down from 70,000 barrels per day a year ago.
The company said it had total liquidity of approximately $251.1 million as of September 30, 2024.
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