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NGL Energy Partners (NGL) Reports Wider Q1 Loss, Sales Beat

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Wider-Than-Expected Loss: Midstream operator NGL Energy Partners LP (NGL - Free Report) reported fiscal first-quarter 2020 loss per unit from continuing operations of 96 cents, significantly wider than the Zacks Consensus Estimate of 7 cents loss.

Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for fiscal first-quarter earnings being revised 16.7% downward over the last 30 days.

Coming to earnings surprise history, the diversified energy master limited partnershiphas a bad record, having missed the Zacks Consensus Estimate thrice in the last four reports, as shown in the chart below:

NGL Energy Partners LP Price and EPS Surprise

 

NGL Energy Partners LP Price and EPS Surprise

NGL Energy Partners LP price-eps-surprise | NGL Energy Partners LP Quote

Revenues: Revenues of $6.6 billion beat the Zacks Consensus Estimate of $5.5 billion.

Key Stats: First-quarter adjusted EBITDA for the Crude Oil Logistics unit was $52.1 million, surging 71% from the year-ago EBITDA of $30.4 million. The Zacks Consensus Estimate was $46.9 million.

In the Water Solutions segment, the partnership reported adjusted EBITDA of $41.1 million,6.5% less than the year-ago period. The Zacks Consensus Estimate was $45.9 million.

The Refined Products and Renewables unit reported adjusted loss of $11.2 million, compared to profit of $3.8 million in April-June quarter of 2018. The Zacks Consensus Estimate was $10.1 million.

First-quarter adjusted EBITDA for the Liquids unit was $12.4 million, rising 14.5% from the year-ago EBITDA of $10.8 million. The Zacks Consensus Estimate was $13.1 million.

Zacks Rank: Currently, NGL Energy Partners carries a Zacks Rank #3 (Hold).

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

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