NGL Energy Partners reports Q3 EPS 19c vs (35c) last year

Reports Q3 revenue $2.14B vs $2.17B last year. "Our Water Solutions segment continues to see strong disposal volume and skim oil growth, achieving record Adjusted EBITDA and water volumes processed in the quarter. This strong performance plus the return of working capital has allowed us to lean into the repurchase of our 2023 notes, $97.5 million in the current quarter. The current remaining balance is approximately $203 million, and our plan is to call the remaining 2023 notes no later than June 30, 2023. Paying off the 2023 notes is a key strategic goal as we look to drive down absolute debt and further reduce leverage. We are increasing guidance for our Water Solutions’ Adjusted EBITDA from over $430 million to over $440 million for full year Fiscal 2023 and maintaining $630 million plus consolidated Adjusted EBITDA guidance. Due to the increasing activity and volumes in the Delaware Basin, we are adjusting our capital expenditure guidance to a range of $115 million – $125 million in order to keep up with our customers growth," stated Mike Krimbill, NGL‘s CEO. "As we’ve discussed before, we continue to work on sales of non-core assets in the fourth quarter that will continue to drive leverage lower," Krimbill concluded.