Mon, Mar 3, 6:15 PM (48 days ago)
**Genesis Energy, L.P. (GEL) Summary** For the fiscal year ended December 31, 2024, Genesis Energy reported a net loss of $63.9 million, a decline from a net income of $117.7 million in 2023. Revenue decreased by $210.8 million (7%) to $2.8 billion, primarily due to lower export pricing in the Alkali Business and increased operating costs, including a $33 million rise in depreciation expenses. Segment Margin fell to $673 million, down from $827 million in 2023, with significant declines in both the Offshore Pipeline Transportation and Soda and Sulfur Services segments. The company completed the sale of its Alkali Business for $1.425 billion on February 28, 2025, receiving about $1.039 billion in cash, which will be used to reduce debt and fund other corporate purposes. The credit facility was amended to increase leverage ratios temporarily and reduce borrowing capacity to $800 million. Key risks include commodity price volatility, regulatory changes affecting operations, and potential impacts from geopolitical events. The company maintains a strong liquidity position with $604.5 million available under its credit facility. Future growth is focused on long-term contracts in offshore pipeline services and optimizing existing assets.