NGL’s 3Q earnings report coming next week



NGL Energy Partners LP plans to issue its fiscal third quarter report next week.

The company will release the earnings report after the close of markets on Thursday, February 8 and old a conference call at 4 p.m. Central Time. NGL’s management team will discuss the financial results with analysts, investors and others.

The midstream company experienced a large increase in net income in the second quarter, going from $3.6 million in the second quarter 2023 to $28.3 million in the Fiscal 2024 second quarter.

Its adjusted EBITDA also increased from $142.2 million to $176.2 million. NGL also saw a nearly 8% increase in its produced water volumes processed in the second quarter.

Mike Krimbill NGL’s CEO, said at the time that because of the growing Water Solutions segment, the company was increasing its Fiscal 2024 Adjusted EBITDA.

“Currently, we are reducing indebtedness on our ABL Facility, rather than the 2025 unsecured notes, as it is our highest cost of debt,” he added.