Increased crude oil prices and oil and gas operations—are they enough to turn around earnings for Tulsa’s NGL Energy Partners?
NGL plans to release its fiscal 2022 second quarter reporting after the close of markets on Tuesday, Nov. 9.
Then management will host an earnings call at 4 p.m. Central Standard Time to discuss the results.
The question remains…will losses improve or grow worse after NGL suffered a $134.5 million loss from continuing operations in the first quarter. The loss was far greater than the $33.8 million reported for the first quarter of Fiscal 2021.
Adjusted EBITDA was stale—$91.1 million for the first quarter of Fiscal 2022 compared to $91million a year earlier. But that was as the oil and gas industry was making improvements in its activity and production, prompting NGL CEO Mike Krimbill to express some optimism at the time.
“Overall, the partnership is pleased with the outlook for the future as both the macroeconomic environment and our Water Solutions business continue to improve,” Krimbill concluded.
