Genesis Energy LP (NYSE:GEL) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Genesis Energy LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.7% to $0.28 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 22.97% to $1.15 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Genesis Energy LP reported adjusted EPS income of $0.28 per share. By that measure, the company missed the mean analyst estimate of $0.35. It beat the average revenue estimate of $1.13 billion.
Quoting Management: Grant Sims, CEO of Genesis Energy, said, “Our measured growth has allowed us to increase distributions to our unitholders for the thirty-first consecutive quarter, twenty-six of which have been 10% or greater over the prior year quarter and none were less than 8.7%.”
Key Stats (on next page)…