Genesis Energy Earnings: Everything You Must Know Now

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 43.48% to $0.33 in the quarter versus EPS of $0.23 in the year-earlier quarter.

Revenue: Rose 31.54% to $1.21 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Genesis Energy LP reported adjusted EPS income of $0.33 per share. By that measure, the company missed the mean analyst estimate of $0.35. It beat the average revenue estimate of $1.2 billion.

Quoting Management: Grant Sims, CEO of Genesis Energy, said, “We have increased distributions to our unitholders for the thirty-second consecutive quarter, twenty-seven of which have been 10% or greater over the prior year quarter and none were less than 8.7%. In the second quarter of 2013, a number of items, as discussed below, combined to negatively impact Available Cash before Reserves. Pro forma Available Cash before Reserves, excluding the effects of those items, for the second quarter of 2013 would have been approximately $52.2 million, providing 1.23 times coverage for our second quarter distribution, which is inclusive of the increase in our outstanding common units due to the conversion of our Class 3 waiver units. Pro forma Adjusted EBITDA, excluding the effects of those items, would have been $65.5 million for the second quarter of 2013. These results are reflective of our underlying businesses performing as expected.”

Key Stats (on next page)…

Revenue increased 5.79% from $1.15 billion in the previous quarter. EPS increased 17.86% from $0.28 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.40 and has not changed. For the current year, the average estimate is a profit of $1.48, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)