NGL Energy Partners (NGL) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for NGL Energy Partners.

Analyst Coverage

Research analysts who have asked questions during NGL Energy Partners earnings calls.

Derrick Whitfield

Texas Capital

7 questions for NGL

Also covers: AMTX, ARIS, BG +21 more

Nevin Mathew

JPMorgan Chase & Co.

7 questions for NGL

Gregg Brody

Bank of America Merrill Lynch

1 question for NGL

Also covers: BORR, CLMT, CRK

James Anthony Spicer

TD Securities

1 question for NGL

Ned Baramov

Wells Fargo & Company

1 question for NGL

Also covers: AM, SUN, WES

Latest news

Recent press releases and 8-K filings for NGL.

NGL Energy Partners Reports Strong Q3 2026 Results with Increased EBITDA and Strategic Progress

NGL

Earnings

Guidance Update

New Projects/Investments

NGL Energy Partners reported Adjusted EBITDA from continuing operations of $172.5 million for Q3 2026, marking a 9.2% increase from the prior year.
The Water Solutions segment significantly contributed to growth, with its Adjusted EBITDA increasing by 16.5% to $154.5 million and setting a physical disposal volume record of 3.07 million barrels per day in Q3 2026.
The company is actively executing its financial strategy by redeeming 18,506 Class D Preferred Units and repurchasing 1.6 million common units during the quarter, with a future focus on eliminating the remaining Class D Preferred Units.
NGL maintains its full-year fiscal 2026 EBITDA guidance in the range of $650 million to $660 million and projects to exceed $700 million in fiscal 2027.
Strategic initiatives include the completion of the Western Express Pipeline expansion and an MOU with Natura Resources to explore large-scale produced water treatment using nuclear power and thermal desalination, with no CapEx demand to NGL on the nuclear side.

3 days ago

Transcript

NGL Energy Partners Reports Strong Q3 2026 Results with Increased EBITDA and Strategic Progress

NGL

Earnings

Guidance Update

New Projects/Investments

NGL Energy Partners reported Adjusted EBITDA from continuing operations of $172.5 million for Q3 2026, marking a 9.2% increase from the prior year, with the Water Solutions segment's Adjusted EBITDA growing 16.5% to $154.5 million.
The company maintained its full-year fiscal 2026 EBITDA guidance of $650 million to $660 million and anticipates exceeding $700 million of EBITDA for fiscal 2027.
Financial strategy execution included redeeming an additional 18,506 Class D Preferred Units and repurchasing 1.6 million common units in Q3 2026, with a continued focus on eliminating Class D Preferred Units.
The Water Solutions segment achieved record physical disposal volumes of 3.07 million barrels per day in Q3 2026 and an all-time daily record of over 3.5 million barrels per day in January.
Strategic developments include the completion of the Western Express Pipeline expansion, an MOU with Natura Resources for large-scale produced water treatment, and the ongoing development of an AI machine-based learning project to enhance operational efficiencies.

3 days ago

Transcript

NGL Energy Partners Reports Strong Q3 2026 Results with Record Water Volumes and Reaffirms Guidance

NGL

Earnings

Guidance Update

New Projects/Investments

NGL Energy Partners reported Adjusted EBITDA of $172.5 million for Q3 2026, marking a 9.2% increase from the prior year, primarily driven by a 16.5% increase in Water Solutions Adjusted EBITDA to $154.5 million.
The company achieved record physical water disposal volumes of approximately 3.07 million barrels per day in Q3 2026, and in early January, disposal volumes eclipsed 3.5 million barrels per day.
NGL reaffirmed its full-year fiscal 2026 EBITDA guidance in the range of $650 million-$660 million and projects to exceed $700 million in EBITDA for fiscal 2027.
In line with its financial strategy, NGL redeemed an additional 18,506 Class D Preferred Units during the quarter and repurchased 1.6 million common units, bringing total common unit repurchases to 8.7 million units since program inception.
Strategic initiatives include the completion of the Western Express Pipeline expansion and an MOU with Natura Resources for large-scale produced water treatment, with an AI machine-based learning project also expected to contribute to operational efficiencies this calendar year.

3 days ago

Transcript

NGL Energy Partners LP Reports Q3 FY'26 Adjusted EBITDA and Recent Strategic Actions

NGL

Earnings

Debt Issuance

Share Buyback

NGL Energy Partners LP reported consolidated Adjusted EBITDA of $172,561 for Q3 FY'26, with the Water Solutions segment contributing $154,496.
The company completed non-core asset sales totaling approximately $270 million as of May 5, 2025.
NGL reduced its Term Loan B SOFR margin from 4.5% to 3.75% on August 5, 2024, and further to 3.50% on September 18, 2025.
A common unit repurchase program of up to $50.0 million was authorized on June 5, 2024, and approximately 15% of outstanding Class D preferred units were repurchased as of October 17, 2025.

3 days ago

Presentation

NGL Energy Partners LP Announces Third Quarter Fiscal 2026 Results

NGL

Earnings

Guidance Update

Share Buyback

NGL Energy Partners LP reported income from continuing operations of $48.2 million for the third quarter of Fiscal 2026, an increase from $23.7 million in the third quarter of Fiscal 2025.
Adjusted EBITDA from continuing operations grew to $172.5 million for the third quarter of Fiscal 2026, up from $158.0 million in the prior year period.
The Water Solutions segment achieved record produced water volumes physically disposed of approximately 3.07 million barrels per day, representing a 17.1% increase compared to the third quarter of Fiscal 2025.
The company reaffirmed its full-year Fiscal 2026 Adjusted EBITDA guidance of between $650 million to $660 million and anticipates Adjusted EBITDA to exceed $700 million in Fiscal 2027.
NGL repurchased an additional 1,611,088 common units during the quarter, bringing the total repurchased under the program to 8,698,477 common units.

3 days ago

Press Release

NGL Energy Partners Subsidiary Forms Partnership for Advanced Water Treatment

NGL

New Projects/Investments

NGL Water Solutions Permian LLC, a subsidiary of NGL Energy Partners LP, has signed an agreement with Natura Resources LLC to combine Natura's 100-megawatt molten salt reactor with thermal desalination technology.
This partnership aims to pursue opportunities for large-scale produced water treatment and power generation in the Permian Basin, leveraging NGL's existing infrastructure and expected Texas Pollutant Discharge Elimination System (TPDES) permit.
The collaboration seeks to address the challenge of over 20 million barrels of produced water daily in the Permian Basin by creating a scalable solution for beneficial use, including power generation and critical mineral extraction.

4 days ago

Press Release

NGL Energy Partners Reports Q3 Fiscal 2026 Results

NGL

Earnings

Share Buyback

NGL Energy Partners reported Q3 fiscal 2026 revenue of $909.8 million, exceeding analyst estimates of $818.0 million, but its non-GAAP EPS of $0.10 missed the consensus of $0.1616, leading to a more than 9% share decline in after-hours trading.
The company achieved Consolidated Adjusted EBITDA of $172.5 million and net income of $48.2 million, reflecting improved profitability compared to the prior year despite a consolidated revenue decline.
The Water Solutions segment was a key growth driver, disposing of a record 3.07 million barrels per day of produced water and contributing $154.5 million in Adjusted EBITDA.
The board authorized a common unit repurchase program of up to $50 million.

4 days ago

Morningstar

NGL Energy Partners Reports Q2 FY2026 Results and Raises FY2026 EBITDA Guidance

NGL

Earnings

Guidance Update

Share Buyback

NGL Energy Partners LP reported mixed Q2 fiscal 2026 financial results, with revenue exceeding forecasts at $674.68 million, but earnings per share of $0.02 missed analyst expectations.
The company's consolidated Adjusted EBITDA for Q2 fiscal 2026 rose 12% year-over-year to $167.38 million, primarily driven by the Water Solutions segment, which contributed 85% of total EBITDA and showed significant operational improvements.
NGL increased its full-year fiscal 2026 Adjusted EBITDA guidance to $650-$660 million and projects fiscal 2027 Adjusted EBITDA to exceed $700 million.
Growth capital expenditures were raised to $160 million to support new contracts, and the company is actively redeeming Class D preferred equity and repurchasing common units.

Nov 5, 2025, 3:54 AM

Morningstar

NGL Reports Q2 FY'26 Adjusted EBITDA and Strategic Financial Actions

NGL

Earnings

Debt Issuance

Share Buyback

NGL reported Consolidated Adjusted EBITDA of $167,381 thousand for Q2 FY'26, with the Water Solutions segment contributing $151,902 thousand, representing 85% of the total value presented in the segment breakdown.
The company executed several strategic financial actions, including amending its Term Loan B agreement on September 18, 2025, to reduce the SOFR margin from 3.75% to 3.50%, and repurchasing 88,506 Class D preferred units (approximately 15% of outstanding) as of October 17, 2025.
NGL also announced non-core asset sales for approximately $270 million on May 5, 2025, and brought the LEX II water pipeline project into service on October 15, 2024, with an initial capacity of 200,000 barrels per day.
The Water Solutions segment is characterized by its extensive network in the Delaware Basin, including over 800 miles of pipelines and ~6.5 million bpd total permitted disposal capacity, supported by long-term, fixed-fee contracts with ~80% of current throughput from Investment Grade Counterparties.

Nov 4, 2025, 10:00 PM

Presentation

NGL Energy Partners Reports Strong Q2 2026 Results and Raises Full-Year Guidance

NGL

Earnings

Guidance Update

Share Buyback

NGL Energy Partners reported Q2 2026 Consolidated Adjusted EBITDA of $167.3 million, a 12% increase from the prior year, primarily driven by its Water Solutions business segment.
The company increased its full-year Adjusted EBITDA guidance from $615-$625 million to $650-$660 million and provided initial fiscal 2027 Adjusted EBITDA guidance of at least $700 million.
The Water Solutions segment's Adjusted EBITDA grew 18% to $151.9 million in Q2 2026, with physical disposal volumes reaching 2.8 million barrels per day and total volumes paid to dispose increasing 14% to 3.15 million barrels per day.
NGL is actively managing its capital structure by purchasing 88,506 Class D preferred units (15% of outstanding) for $10.4 million in annual distribution savings and repricing its term loan B, resulting in $15 million in annual interest savings.
Additionally, the company repurchased an additional 4.4 million common units in the quarter, bringing the total to approximately 6.8 million units (5% of outstanding) at an average price of $4.57 since the plan's inception.