Genesis Energy, L.P. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 18, 2021 at 04:40 pm IST
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Genesis Energy, L.P. Announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was USD 453.140 million compared to USD 604.329 million a year ago. Operating loss was USD 30.932 million compared to operating Income of USD 70.939 million a year ago. Net loss was USD 85.156 million compared to net income of USD 22.368 million a year ago. For the full year, sales was USD 1,824.655 million compared to USD 2,480.820 million a year ago. Operating loss was USD 245.958 million compared to operating Income of USD 272.703 million a year ago. Net loss was USD 416.678 million compared to net income of USD 95.999 million a year ago.
Genesis Energy L.P. is a provider of integrated suite of midstream services to the Gulf of Mexico and the Gulf Coast region of the crude oil and natural gas industry, and producer of natural soda ash. The Company operates through four segments: Offshore Pipeline Transportation, Sodium and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. Its Offshore Pipeline Transportation segment includes its offshore crude oil and natural gas pipeline transportation and handling operations in the Gulf of Mexico. Its Sodium and Sulfur Services segment includes its alkali business and its sulfur removal business. Its Onshore Facilities and Transportation segment owns and/or leases its range of onshore crude oil and refined products infrastructure, including pipelines, trucks, terminals, and rail unloading facilities. The Companyâs Marine Transportation segment is a provider of transportation services by tank barge primarily for intermediate refined petroleum products.