NGL Energy Partners LP (NYSE:NGLpC.PFD)

Q1 2026 NGL Energy Partners LP Earnings Call Transcript

Aug 7, 2025 / 09:00 PM GMT

Release Date Price: $21.2 (-1.20%)

Transcript 10-Q

Key Points

Positve

NGL Energy Partners LP (NGL) successfully closed the sale of several assets, including the rack marketing business and a majority of the wholesale propane business, which helped pay down debt.
The company reported a 4% increase in consolidated adjusted EBITDA for the quarter, driven primarily by strong performance in the water solutions segment.
Water solutions adjusted EBITDA increased by 13.8% year-over-year, with physical water disposal volumes up by 12.4%.
Operating expenses in the water solutions segment were reduced by $0.02 per barrel compared to the previous year.
NGL Energy Partners LP (NGL) is well-positioned with 90% of its water volumes committed through acreage dedications and minimum volume commitments, with 80% of volumes from investment-grade counterparties.

Negative

Crude oil logistics EBITDA decreased significantly from $18.6 million in the prior year's first quarter to $9.6 million in the current quarter.
Volumes on the Grand Mesa pipeline decreased to 55,000 barrels per day from 63,000 barrels per day due to lower production and crude oil prices.
Liquid logistics adjusted EBITDA fell to $2.9 million from $5.7 million in the prior year, impacted by asset sales.
The company faces oil price uncertainty, which could impact customer activity levels in the water solutions segment.
Produced water volumes were lighter than expected, although they were still above internal budget forecasts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NGL.N - NGL Energy Partners LP
Q1 2026 NGL Energy Partners LP Earnings Call
Aug 07, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the NGL Energy Partners 1,226 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press 0 on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host Brad Cooper. You may begin.

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Unidentified_2 [2]
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Good afternoon and thank you to everyone for joining us on the call today.

Her comments today will include plans,

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