Genesis Energy, L.p. · NYSE:GEL
Genesis Energy, L.p — Q4 2025 Earnings Presentation
10 slides from Genesis Energy, L.p's earnings presentation, Feb 12, 2026
Slide 1: Genesis Energy, L.P. 4Q 2025 Earnings Supplement
Genesis Energy, L.P. 4Q 2025 Earnings Supplement February 12, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved. Actual results may vary materially. All statements
Slide 3: Key Takeaways
Key Takeaways Offshore Ramping & Leading the Way; Long-Term Thesis Progressing • Long-term outlook and value proposition for Genesis remains in-tact – Reported Adjusted EBITDA(a) of $157.8 million in the fourth quarter and $544.3 million for the full year • Clear line of sight to Adjusted EBITDA(a)
Slide 4: Genesis Energy, L.P. – 4Q 2025 Update
Genesis Energy, L.P. – 4Q 2025 Update Key Segment and Operational Highlights • Offshore Pipeline Transportation – Initial 4 phase one Shenandoah wells produced well above MVC levels Financial Results • Expect Monument, a two well sub-sea tieback to Shenandoah, on- line late this year or early 2027 f
Slide 5: Reconciliations
Reconciliations
Slide 6: Balance Sheet & Credit Profile
Balance Sheet & Credit Profile Leverage Ratio & Common Unit Distribution Coverage Ratio ($ in 000s) 12/31/2025 Senior secured credit facility $6,400 Senior unsecured notes, net of debt issuance costs and discount 3,040,415 Less: Outstanding inventory financing sublimit borrowings (28,100) Less: Cash
Slide 7: Reconciliation: Segment Margin
Reconciliation Segment Margin ($ in 000s) YTD 3/31/2025 6/30/2025 9/30/2025 12/31/2025 2025 Income (loss) from continuing operations before income taxes ($36,417) $10,356 $23,029 34,343 $31,311 Net income attributable to noncontrolling interests (8,769) (10,417) (13,569) (14,408) (47,163) Corporate
Slide 8: Reconciliation: Available Cash Before Reserves
Reconciliation Available Cash Before Reserves ($ in 000s) YTD 3/31/2025 6/30/2025 9/30/2025 12/31/2025 2025 Net income (loss) attributable to Genesis Energy, L.P. ($469,075) ($406) $9,207 $19,871 ($440,403) Interest expense, net 70,038 60,754 66,407 67,530 264,729 Income tax expense 144 345 253 64 8
Slide 9: Reconciliation: Adjusted Debt & Adjusted Consolidated EBITDA
Reconciliation Adjusted Debt & Adjusted Consolidated EBITDA ($ in 000s) Long-term debt 2025 2024 2023 2022 2021 2020 Senior secured credit facility $6,400 $291,000 $298,300 $205,400 $49,000 $643,700 Senior unsecured notes, net of debt issuance costs, discount and premium 3,040,415 3,436,860 3,062,95
Slide 10: Reconciliation: Select Items
Reconciliation Select Items ($ in 000s) YTD 3/31/2025 6/30/2025 9/30/2025 12/31/2025 2025 Applicable to all Non-GAAP Measures Differences in timing of cash receipts for certain contractual arrangements (a) ($8,287) ($9,071) ($7,091) $4,552 ($19,897) Unrealized losses (gains) on derivative transactio