Genesis Energy, L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 28, 2022 at 09:08 am
Share
Genesis Energy, L.P. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 721.73 million compared to USD 503.86 million a year ago. Net income was USD 35.35 million compared to net loss of USD 41.68 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to basic loss per share from continuing operations of USD 0.49 a year ago.
For the six months, sales was USD 1,353.67 million compared to USD 1,025.07 million a year ago. Net income was USD 30.1 million compared to net loss of USD 75.91 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.92 a year ago.
Genesis Energy L.P. is a provider of integrated suite of midstream services to the Gulf of Mexico and the Gulf Coast region of the crude oil and natural gas industry, and producer of natural soda ash. The Company operates through four segments: Offshore Pipeline Transportation, Sodium and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. Its Offshore Pipeline Transportation segment includes its offshore crude oil and natural gas pipeline transportation and handling operations in the Gulf of Mexico. Its Sodium and Sulfur Services segment includes its alkali business and its sulfur removal business. Its Onshore Facilities and Transportation segment owns and/or leases its range of onshore crude oil and refined products infrastructure, including pipelines, trucks, terminals, and rail unloading facilities. The Companyâs Marine Transportation segment is a provider of transportation services by tank barge primarily for intermediate refined petroleum products.