Genesis Energy, L.P. Reports First Quarter 2020 Results

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Go back to Genesis Energy, L.P. Reports First Quarter 2020 Results

Genesis Energy (GEL) Misses Q1 EPS by 1c, Revenues Miss

May 6, 2020 6:12 AM EDT

Genesis Energy (NYSE: GEL) reported Q1 EPS of $0.05, $0.01 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $539.92 million versus the consensus estimate of $640.07 million.

Grant Sims, CEO of Genesis Energy, said, For the quarter, our diversified businesses delivered financial results consistent with, if not slightly greater than, our expectations. The results were positively driven by solid pipeline volumes out of the Gulf of Mexico, strong crude-by-rail volumes out of Canada and robust demand for marine transportation across our different classes of assets. During the quarter, however, we began to recognize... More