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

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

Genesis Energy (GEL) Misses Q2 EPS by $2.76, Revenues Miss

August 5, 2020 6:11 AM EDT

Genesis Energy (NYSE: GEL) reported Q2 EPS of ($2.82), $2.76 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $388.47 million versus the consensus estimate of $484.49 million.

Grant Sims, CEO of Genesis Energy, said, "As we said in our first quarter call, we believed Genesis, and most other energy and industrial companies, would be facing generational economic headwinds from the widespread demand destruction resulting from shutting down large portions of the worlds economies to slow the spread of Covid-19. This turned out in fact to be the case, especially for... More