NGL Energy Partners LP (NGL) stock plunged 7.09% in after-hours trading on Monday, February 10, 2025, following the release of the company's fiscal third-quarter 2025 financial results.
For the quarter ended December 31, 2024, NGL reported a net loss of $0.12 per share, missing analysts' consensus estimate of $0.13 earnings per share. Revenue of $1.55 billion also fell short of the $1.72 billion expected by analysts. Adjusted EBITDA of $147.7 million declined slightly from $151.7 million in the prior-year quarter.
NGL's results were weighed down by lower propane and refined products margins in its Liquids Logistics segment due to reduced customer demand and aggressive pricing by competitors. The segment also recorded $9.5 million in losses on derivative instruments. The company's Water Solutions segment saw higher costs related to $10.5 million in losses on asset disposals or impairments. While produced water volumes processed increased 10.4% year-over-year, skim oil revenue was impacted by lower realized crude prices.
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