Genesis Energy(GEL) - 2023 Q3 - Earnings Call Presentation

Financial Performance & Guidance - Genesis Energy reaffirmed its Adjusted EBITDA guidance range for 2023 at $725 million to $745 million[4] - The company is on track to deliver record Adjusted EBITDA for 2023[4] - Genesis Energy exited the third quarter with a leverage ratio of 3.92x and expects to exit the year at or near 40x[4,7] - The company expects growth CapEx of $350 million to $400 million in 2023 and $150 million to $200 million in 2024[13] Segment Performance & Outlook - Offshore Pipeline Transportation reported a segment margin of $109267 thousand in 3Q 2023[7] - Soda & Sulfur Services reported a segment margin of $61957 thousand in 3Q 2023[7] - Marine Transportation reported a segment margin of $27126 thousand in 3Q 2023[7] - Onshore Facilities & Transportation reported a segment margin of $9547 thousand in 3Q 2023[7] - The company expects a step change in offshore volumes and segment margin contribution in 2025 when Shenandoah and Salamanca come on-line, with a combined 160kb/d production handling capacity[13] Capital Allocation & Strategy - Genesis Energy repurchased a total of $75 million of Series A corporate preferred at a discount to call premium and 114900 units at an average price of $909 per unit[4] - The company expects to generate roughly $200 million – $300 million per year of cash flow starting in 2025[13]