NGL Energy Partners LP(US:NGL) Businesswire·2025-11-04 21:37Financial Results - NGL Energy Partners LP reported a net income from continuing operations of $29.8 million for the second quarter of Fiscal 2026, compared to $7.5 million for the same period in Fiscal 2025 [6] - Adjusted EBITDA for the second quarter of Fiscal 2026 was $167.3 million, an increase from $149.4 million in the second quarter of Fiscal 2025 [6] - Total revenues for the quarter ended September 30, 2025, were $674.7 million, down from $756.5 million in the prior year [23] Water Solutions Segment - Operating income for the Water Solutions segment increased by $19.5 million to $92.4 million for the quarter ended September 30, 2025, driven by higher disposal revenues and increased water pipeline revenue [5][6] - The Partnership processed approximately 2.80 million barrels of produced water per day during the quarter, a 4.5% increase from 2.68 million barrels per day in the same quarter of the previous year [5][6] - Paid and physically disposed water volumes grew by 14% to 3.15 million barrels per day in the second quarter of Fiscal 2026 [6] Crude Oil Logistics Segment - Operating income for the Crude Oil Logistics segment decreased by $6.6 million to $8.2 million for the quarter ended September 30, 2025, primarily due to reduced gains on derivatives [10] - Physical volumes on the Grand Mesa Pipeline averaged approximately 72,000 barrels per day, an increase from 63,000 barrels per day in the prior year [10] Liquids Logistics Segment - Operating income for the Liquids Logistics segment increased by $3.7 million to $6.3 million for the quarter ended September 30, 2025, attributed to lower expenses related to the sale of the Wholesale Propane business and increased margins [11] Guidance Update - NGL increased its consolidated Adjusted EBITDA guidance for Fiscal 2026 to a range of $650 million to $660 million, up from the previous range of $615 million to $625 million [6] - The company expects Fiscal 2027 Adjusted EBITDA to exceed $700 million, supported by new contracts executed for over 500,000 barrels per day of produced water disposal [6] Capitalization and Liquidity - Total liquidity as of September 30, 2025, was approximately $359.1 million, with borrowings on the asset-based revolving credit facility totaling approximately $71.0 million [12] - The Partnership is in compliance with all debt covenants and has no upcoming debt maturities [12]