Genesis Energy, L.P. - GEL STOCK NEWS

Genesis Energy, L.P. (NYSE: GEL) has announced several executive promotions aimed at strengthening its leadership team. Ryan Sims has been appointed as President and Chief Commercial Officer, while Kristen Jesulaitis assumes the role of Chief Financial Officer and Chief Legal Officer. Louie Nicol has been promoted to Senior Vice President and Chief Accounting Officer. These promotions will enhance operational oversight and align with the company's strategic goals. Bob Deere, previously CFO, transitions to Chief Administrative Officer, focusing on IT and HR. The changes reflect the depth of Genesis’ executive talent and aim to ensure ongoing success.

Genesis Energy, L.P. (NYSE: GEL) is set to announce its First Quarter earnings for the period ending March 31, 2023 on May 4, 2023, prior to market opening. Investors can access the earnings conference call on May 4, 2023, at 8:30 a.m. Central time (9:30 a.m. Eastern time) through the company’s website, with a replay available shortly after the event.

Genesis operates primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico, providing services in offshore pipeline transportation, sodium minerals, and sulfur, among others, positioning it as a diversified midstream energy master limited partnership.

Genesis Energy, L.P. (NYSE: GEL) declared a quarterly cash distribution for common and Class A Convertible Preferred Units attributable to Q1 2023. The distribution of $0.15 per common unit (annualized $0.60) will be paid on May 15, 2023 to holders of record as of April 28, 2023. For preferred units, the distribution will be $0.9473 per unit (annualized $3.7890).

Genesis operates in the midstream energy sector, focusing on offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation, primarily in the Gulf Coast region and the Gulf of Mexico.

This press release also notes that distributions to foreign investors will be subject to federal income tax withholding.

Genesis Energy, L.P. (NYSE: GEL) will host investor meetings at two upcoming conferences. The first is the Barclays Select Series: Midstream Corporate Access Days in New York on February 27, 2023. The second is the J.P. Morgan Global High Yield & Leveraged Finance Conference in Miami from March 6-8, 2023. Interested investors can access presentation materials on the company's website at www.genesisenergy.com. Genesis is a diversified midstream energy master limited partnership, primarily operating in the Gulf Coast region, Wyoming, and the Gulf of Mexico.

Genesis Energy, L.P. (NYSE: GEL) has announced the availability of its 2022 tax packages, including Schedule K-1s, online. Unitholders can access their packages at www.PartnerDataLink.com/Genesis or through its homepage at www.genesisenergy.com. The company expects to complete mailing of these tax documents by March 6, 2023, and will provide Schedule K-3 electronically by the end of June 2023. For further assistance, unitholders can reach out to Partner DataLink at 855-502-0936.

Genesis Energy, L.P. (NYSE: GEL) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission. The report is available on the company’s website under the Investors section. Unitholders can request a hard copy of the Form 10-K free of charge via email or phone. As a diversified midstream energy master limited partnership based in Houston, Texas, Genesis Energy operates in areas including offshore pipeline transportation, sodium minerals and sulfur services, and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.

Genesis Energy, L.P. (NYSE: GEL) reported strong fourth-quarter results for 2022 with a net income of $42 million, reversing a net loss of $68.3 million in 2021. Operating cash flows totaled $81.8 million, while total segment margin reached $197.1 million. The company declared cash distributions on preferred units amounting to approximately $24 million. Adjusted EBITDA was $180.2 million, exceeding internal expectations despite unplanned downtime costing $10 million. Looking ahead, Genesis anticipates adjusted EBITDA of $780-$810 million for 2023, benefiting from a tight soda ash market and strong marine transportation demand.

Genesis Energy, L.P. (NYSE: GEL) will release its Fourth Quarter earnings for the period ending December 31, 2022, on February 22, 2023, before market opening.

The accompanying earnings conference call is scheduled for the same day at 8:00 a.m. Central time. Investors can access the call through Genesis Energy's website. A replay will be available about an hour post-event.