GENESIS ENERGY LP has recently released its 10-Q report, providing a detailed overview of its operations and financial performance. The company operates in the midstream segment of the crude oil and natural gas industry in the United States, with business segments including Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation.
In the 10-Q report, the company reported Net Income from Continuing Operations of $10.0 million during the three months ended June 30, 2025, compared to a Net Loss from Continuing Operations of $4.0 million during the same period in 2024. The increase in operating income from the company's segments, a decrease in interest expense, and a decrease in general and administrative expenses contributed to the positive net income. However, an increase in depreciation and amortization and an increase in other expenses related to the redemption of 2027 Notes partially offset these gains.
Cash flow from operating activities was $47.0 million for the 2025 Quarter, compared to $104.7 million for the 2024 Quarter. The decrease in cash flow from operating activities was primarily due to negative changes in working capital in the 2025 Quarter compared to the 2024 Quarter. Available Cash before Reserves to common unitholders was $32.2 million for the 2025 Quarter, a decrease of $5.4 million, or 14%, from the 2024 Quarter.
The company's total Segment Margin was $135.9 million for the 2025 Quarter, a decrease of $2.0 million, or 1%, from the 2024 Quarter. The Offshore Pipeline Transportation segment contributed $87.6 million to the total Segment Margin, followed by the Marine Transportation segment with $29.8 million and the Onshore Transportation and Services segment with $18.5 million.
The report also discussed the impact of market conditions on the company's operations, with a focus on assumptions about future operations and market conditions. The company emphasized that the uncertainties underlying these assumptions could cause estimates to differ significantly from actual results. Despite the uncertainties, the company believes the fundamentals of its core businesses remain strong and is focused on deleveraging its balance sheet.
In terms of revenues and costs, the company reported that its revenues for the 2025 Quarter decreased by 12% from the 2024 Quarter, while total costs and expenses decreased by 70.8 million between the two periods. The increase in operating income during the 2025 Quarter was primarily due to an increase in operating income from the offshore pipeline transportation segment and a decrease in general and administrative expenses.
The report also provided detailed information on the company's offshore pipeline transportation segment, including operating results and volumetric data. It highlighted the revenue, operating costs, and segment margin for the segment, along with volumetric data related to crude oil pipelines and natural gas transportation volumes.
Today the company's shares have moved 6.12% to a price of $17.69. For more information, read the company's full 10-Q submission here.
