NGL Energy Partners (NGL) Tops Q4 EPS by 3c, Beat on Revenues

NGL Energy Partners (NYSE: NGL) reported Q4 EPS of $0.14, $0.03 better than the analyst estimate of $0.11. Revenue for the quarter came in at $3.85 billion versus the consensus estimate of $2.49 billion.

Fiscal Year 2018 Guidance

For fiscal 2018, the Partnership expects to generate Adjusted EBITDA of approximately $500 million to $525 million, which includes Adjusted EBITDA for Grand Mesa Pipeline of approximately $130 million. Distributable Cash Flow is expected to be between $300 million and $325 million and would generate over $100 million, or about 1.3x, distribution coverage at our current annualized distribution rate, including distributions on the Class A Preferred Units. The Partnership currently expects to spend approximately $150 million to $200 million on growth capital expenditures during fiscal 2018.

Highlights

• Net income for the fourth quarter and Fiscal 2017 was $26.5 million and $143.9 million, respectively, compared to a net loss of $207.0 million and $187.1 million, respectively, for the fourth quarter and Fiscal 2016
• Adjusted EBITDA for the fourth quarter of Fiscal 2017 was $121.0 million and $380.8 million for all of Fiscal 2017, compared to $154.0 million for the fourth quarter of Fiscal 2016 and $424.1 million for Fiscal 2016
• Distributable Cash Flow for the fourth quarter of Fiscal 2017 was $84.0 million and totaled $234.8 million for the year
• Growth capital expenditures and other investments totaled approximately $84 million during the fourth quarter, the majority of which was related to the acquisition of the natural gas liquid terminals from Murphy Energy Corporation
• Fiscal 2018 Adjusted EBITDA guidance of approximately $500 million to $525 million and expected distribution coverage of approximately 1.3x

For earnings history and earnings-related data on NGL Energy Partners (NGL) click here.

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