Skip to main content
GEL $15.82 +0.70%
GEL logo

GEL · Genesis Energy LP

Track GEL — free
$15.82 +0.11 (+0.70%) At close · Aug 14
Market Cap
$1.93B
Shares
122.21M
All earnings calls

Earnings call · FY2023 Q4

Genesis Energy LP Q4 FY2023 Earnings Call

Genesis Energy LP Q4 FY2023 Earnings Call

Concluded Feb 15, 2024
Feb 15, 2024 13 turns
Period
FY2023 Q4
Runtime
Sources
3 artifacts

Executive readout · one minute

Call research workspace

Read the call alongside every captured source. Audio, transcript, slides and SEC filings stay in one workspace.

Soda Ash Market 32 Offshore Pipeline Transportation 14 Marine Transportation 13 Free Cash Flow and Capital Returns 8 2024 Guidance 6 Demand Drivers for Soda Ash 5

Management tone

Confident

Net tone +68 · low hedging

Grounding quotes
  • “the long-term story for Genesis has never been brighter and remains totally intact”
  • “Our Offshore Pipeline Transportation segment continued to perform in line with our expectations, driven in large part by steady and marginally increasing volumes across our system”
  • “we expect 2024 to be another strong, if not record year, driven in large part by the continuing tight supply and demand dynamics in the Jones Act market”
  • “Even with an optimized Granger on-line, we would therefore, reasonably expect the contribution margin from our soda ash business to be at or near the low end of our previously provided historical contribution margin range of $200 million to $300 million per year”

Forward guidance

3 guided metrics

Management's latest ranges and targets are included below.

Research coverage

3 live sources

Switch sources without leaving this page or losing your listening position.

Revenue · derived Q4 -$681.57M -195.5% YoY
Net income · derived Q4 $11.95M -71.5% YoY

Research materials

Open the source you need; every reader stays inside this workspace.

Guidance from the call

Stated verbally and extracted from the transcript.

Metric Guided
Adjusted EBITDA
2024
$680M – $740M
Incremental offshore segment margin
annual, when fully ramped
$100M – $110M
Free cash flow on an annualized basis after all cash obligations
starting in 2025
$250M – $350M

Quarter detail

How the reported period landed and where the business moved.

Capital returned

Dividend / share
$0.15
Full-screen source Call document