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Investor Relations14 Oct 2025
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NGL Energy Partners (NGL) investor relations material
NGL Energy Partners Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 Aug, 2025
Executive summary
Net income rose to $69.6 million for the quarter, up from $10.5 million year-over-year, driven by gains from asset sales and discontinued operations.
Adjusted EBITDA from continuing operations increased to $144.97 million, up from $138.6 million year-over-year, with Water Solutions contributing 92%.
Closed sale of non-core assets, including refined products, most wholesale propane, Limestone Ranch, and 17 NGL terminals, using proceeds to pay down ABL and other debt.
Repurchased $19 million of 2032 Senior Notes, 70,000 Class D preferred units, and over 4.7 million common units at $4.30/unit.
LEX II water pipeline project commenced operations, expanding capacity to 200,000 barrels per day.
Financial highlights
Q1 FY2026 Adjusted EBITDA: $144.97M, up from $144.34M in Q1 FY2025 and $134.66M in Q1 FY2024.
Net income attributable to the partnership was $68.9 million, up from $9.7 million in the prior year period.
Total revenues from continuing operations were $622.2 million, down from $759.2 million year-over-year, reflecting divestitures and lower commodity prices.
Water Solutions Adjusted EBITDA grew to $142.87M, with produced water volumes processed up 12.4% year-over-year.
Crude Oil Logistics Adjusted EBITDA declined to $9.58M, with Grand Mesa Pipeline volumes and revenues down year-over-year.
Outlook and guidance
Reaffirmed full-year adjusted EBITDA guidance of $615M–$625M, with potential for upward revision after Q2.
Capital expenditures for fiscal year ending March 31, 2026 expected to be $105 million.
Board will evaluate reinstatement of common unit distributions, considering leverage, liquidity, and business performance.
Focus remains on exceeding Adjusted EBITDA guidance and improving capital structure.
Long-term contracts with investment grade customers and minimum volume commitments provide high cash flow predictability.
Assess impact of consolidation in Delaware.
Explain Q1 water volume vs expectations.
Discuss strategy for Class D preferred units.
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Next NGL Energy Partners earnings date
Q2 20264 Nov, 2025
Next NGL Energy Partners earnings date
Q2 20264 Nov, 2025
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Eferix Drawings Google Play
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Frequently asked questions
NGL Energy Partners LP is a master limited partnership that provides midstream services including the transportation, storage, blending, and marketing of crude oil, water solutions, and liquid hydrocarbons. The company operates across North America. It is headquartered in Tulsa, Oklahoma, and its shares are listed on the NYSE.
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