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Earnings Call Summary | NGL Energy(NGL.US) Q3 2024 Earnings Conference

Earnings Call Summary | NGL Energy(NGL.US) Q3 2024 Earnings Conference

财报电话会议摘要 | NGL Energy (NGL.US) 2024 年第三季度财报会议
富途资讯 ·  02/09 13:50  · 电话会议

The following is a summary of the NGL Energy Partners LP (NGL) Q3 2024 Earnings Call Transcript:

以下是NGL Energy Partners LP(NGL)2024年第三季度财报电话会议记录摘要:

Financial Performance:

财务业绩:

  • NGL Energy closed a refinancing of $2.9 billion, extending the average maturity of debt.

  • S&P and Moody's raised the corporate credit rating following the refinancing.

  • Adjusted EBITDA for Water Solutions slightly decreased to $121.3 million; Crude Oil Logistics saw a drop to $17 million due to lower margins, while Liquids logistics increased to $22.4 million.

  • Due to robust free cash flows and profitable asset sales, leverage was reduced faster than projected.

  • The company cleared 50% of the arrearages on the three classes of preferred securities.

  • NGL reiterated previous guidance of over $500 million for water and $645 million for the partnership.

  • NGL Energy完成了29亿美元的再融资,延长了债务的平均到期日。

  • 标准普尔和穆迪在再融资后提高了企业信用评级。

  • 水务解决方案调整后的息税折旧摊销前利润略有下降至1.213亿美元;由于利润率降低,原油物流降至1700万美元,而液体物流增至2,240万美元。

  • 由于强劲的自由现金流和有利可图的资产销售,杠杆率的降低速度快于预期。

  • 该公司清偿了三类优先证券拖欠款的50%。

  • NGL重申了先前提出的水资源超过5亿美元和伙伴关系6.45亿美元的指导方针。

Business Progress:

业务进展:

  • Open season on the Grand Mesa Pipeline was closed and a new 5-year MVC agreement was signed, which will free up working capital.

  • The company announced the expansion of the LEX produced water pipeline system, increasing the capacity from 140k barrels per day to 340k barrels per day.

  • New agreements have been signed to capture disposal opportunities and improve water logistics.

  • Significant strides were made in area of debt management, leading to the reinstatement of Class B, C, and D distributions.

  • NGL aims to continue expanding its business footprint and increase adjusted EBITDA.

  • Several new growth projects and contracts will be disclosed alongside fiscal 2025 guidance.

  • Operational efficiencies, cost reductions, and asset sales have achieved increased EBITDA with the company set to continue capitalizing on these improvements.

  • 大梅萨管道的开放季已经结束,签署了一项新的为期5年的MVC协议,这将腾出营运资金。

  • 该公司宣布扩建LEX生产的水管道系统,将产能从每天14万桶增加到每天34万桶。

  • 已经签署了新的协议,以捕捉处置机会和改善水务物流。

  • 债务管理领域取得了重大进展,恢复了B、C和D类分配。

  • NGL的目标是继续扩大其业务足迹并增加调整后的息税折旧摊销前利润。

  • 除2025财年指导方针外,还将披露几个新的增长项目和合同。

  • 运营效率、成本降低和资产销售实现了息税折旧摊销前利润的增加,公司将继续利用这些改进。

More details: NGL Energy IR

更多详情: NGL 能源红外线

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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