GENESIS ENERGY LP

Listed Company

GELCIK 0001022321NYSELarge AcceleratedPipe Lines (No Natural Gas)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.63B

Net Income

$-440.40M

Total Assets

$4.86B

Equity

—

Shares Out

88.65M

Op. Cash Flow

$252.83M

Business

GENESIS ENERGY LP is a growth-oriented master limited partnership that provides integrated midstream services for the crude oil and natural gas industry, and, prior to February 28, 2025, included trona-based soda ash production. The company offers transportation, storage, sulfur removal, blending, terminaling, processing, marine transportation and marketing of crude oil, refined products, sodium hydrosulfide and caustic soda. It manages four reportable divisions: offshore pipeline transportation, soda and sulfur services, marine transportation, and onshore facilities and transportation. Genesis distributes services and products across the Gulf of America, Gulf Coast and broader North American markets via pipelines, platforms, terminals, barges, railcars and trucks.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,630	1,661	1,721	2,789	2,125
General and administrative	86	58	65	67	61
Depreciation and amortization	232	207	199	—	—
Impairment expense	0	43	0	0	0
Total costs and expenses	1,372	1,491	1,516	2,474	2,050
OPERATING INCOME	258	170	205	315	76
Equity in earnings of equity investees	48	58	66	54	58
Other expense	−10	−15	−5	−11	−36
Income tax expense	−806,000	−2	−456,000	−3	−2
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	−393	−33	146	129	−138
DISCONTINUED OPERATIONS (Note 4):	−47	−31	−29	−23	−2
Loss from disposal of discontinued operations	−440	−64	118	75	−165
NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX	−73	−88	−91	−80	−75
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON UNITHOLDERS-BASIC	−513	−152	27	−5	−240
Basic Net income (Loss) per Common Unit (in dollars per unit)	−4.19	−1.24	0.22	−0.04	−1.96
Diluted Net Income (Loss) per Common Unit (in dollars per unit)	−4.19	−1.24	0.22	−0.04	−1.96
Basic Weighted Average Outstanding Common Units (in units)	122	122	123	123	123
Dilutive Weighted Average Outstanding Common Units (in units)	122	122	123	123	123
Interest expense, net	−265	−262	−219	−226	−234
Income (loss) from continuing operations before income taxes	31	−49	48	—	—
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	31	−51	47	—	—
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	8	18	99	—	—
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	−432	0	0	—	—
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	−424	18	99	—	—
Income (Loss) from Continuing Operations, Per Diluted Share	−0.73	−1.38	−0.59	—	—
Income (Loss) from Continuing Operations, Per Basic Share	−0.73	−1.38	−0.59	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	6	7	9	8	20
Accounts receivabletrade, net	608	480	760	722	400
Inventories	55	38	135	78	78
Other	17	19	41	27	39
Current assets held for discontinued operations	0	368	—	—	—
Total current assets	687	912	964	853	542
FIXED ASSETS, at cost	5,374	5,281	6,501	5,865	5,464
Less: Accumulated depreciation	−1,909	−1,741	−1,973	−1,768	−1,552
Net fixed assets	3,465	3,540	4,528	4,097	3,912
EQUITY INVESTEES	219	240	264	284	294
INTANGIBLE ASSETS, net of amortization	76	85	142	127	127
GOODWILL	302	302	302	302	302
RIGHT OF USE ASSETS, net	58	66	240	125	141
OTHER ASSETS, net of amortization	54	54	38	32	38
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	0	1,839	—	—	—
TOTAL ASSETS	4,861	7,038	7,019	6,366	5,906
Accounts payabletrade	491	388	589	428	264
Accrued liabilities	209	254	379	281	233
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	216	—	—	—
Total current liabilities	700	859	967	709	497
SENIOR SECURED CREDIT FACILITY	6	291	298	205	49
SENIOR UNSECURED NOTES, net of debt issuance costs, discount and premium	3,040	3,437	3,063	2,900	2,931
DEFERRED TAX LIABILITIES	17	17	18	17	14
OTHER LONG-TERM LIABILITIES	389	389	570	401	435
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	0	530	—	—	—
Total liabilities	4,153	5,522	5,308	4,591	3,926
Class A Convertible Preferred Units, 15,695,722 and 23,111,918 issued and outstanding at December 31, 2025 and 2024, respectively	553	814	814	892	790
COMMITMENTS AND CONTINGENCIES (Note 21)	—	—	—	—	—
Common units issued (in units)	122	122	122	123	123
Common units outstanding (in units)	122	122	122	123	123
Common unitholders, 122,464,318 units issued and outstanding at December 31, 2025 and 2024	−314	280	520	567	641
Accumulated other comprehensive income	0	9	8	6	−6
Noncontrolling interests	470	413	369	310	295
Total partners capital	156	702	897	884	930
TOTAL LIABILITIES, MEZZANINE CAPITAL AND PARTNERS CAPITAL	4,861	7,038	7,019	6,366	5,906

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion and amortization	251	313	280	—	—
Amortization and write-off of debt issuance costs, premium and discount	13	15	13	9	14
Cash distributions of earnings of equity investees	47	58	65	56	57
Non-cash effect of long-term incentive compensation plans	15	5	25	18	9
Deferred and other tax liabilities	573,000	291,000	−624,000	2	980,000
Unrealized losses (gains) on derivative transactions	−117,000	−8	37	−6	31
Other, net	24	25	17	21	13
Net changes in components of operating assets and liabilities	−89	31	4	−88	30
Net cash provided by operating activities	253	392	521	334	338
Payments to acquire fixed and intangible assets	−187	−587	−620	−424	−301
Proceeds from Divestiture of Businesses, Net of Cash Divested	997	0	0	—	—
Cash distributions received from equity investeesreturn of investment	22	23	26	20	27
Investments in equity investees	−892,000	−285,000	−4	−10	−352,000
Proceeds from asset sales	1	12	478,000	40	604,000
Other, net	0	0	4	0	0
Net cash provided by (used in) investing activities	832	−552	−594	−375	−274
Borrowings on senior secured credit facility	867	1,408	1,184	972	776
Repayments on senior secured credit facility	−1,151	−1,415	−1,091	−815	−1,371
Proceeds from issuance of senior unsecured notes (Note 11)	0	1,300	1,094	0	259
Repayment of senior unsecured notes (Note 11)	−414	−927	−876	−72	−81
Repayment of Alkali senior secured notes	0	−12	0	0	—
Debt issuance costs	−1	−28	−25	−6	−12
Redemption of Class A Convertible Preferred Units (Note 12)	−263	0	−75	0	0
Contributions from noncontrolling interests	68	36	75	23	703,000
Distributions to noncontrolling interests	−59	−37	−45	−32	−903,000
Distributions to Class A Convertible Preferred unitholders (Note 12)	−72	−88	−94	−75	−75
Distributions to common unitholders (Note 12)	−81	−75	−74	−74	−74
Repurchase of Class A Common Units (Note 12)	0	0	−1	0	0
Other, net	−3	−1	904,000	2	−84,000
Net cash provided by (used in) financing activities	−1,108	162	74	42	−66
Net increase (decrease) in cash and cash equivalents and restricted cash	−23	2	1	2	−2

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro