NGL Energy Partners LP Reports $990 Million in Quarterly Revenues, Significant Growth Across Segments

NGL Energy Partners LP reported significant financial growth in its latest quarterly results, with total revenues reaching $990 million for the three months ended June 30, 2026, a substantial increase from $622 million in the same period last year. The partnership's operating income also rose to $145.3 million, compared to $97.5 million in the prior year, reflecting a 49% increase. Net income attributable to NGL Energy Partners LP was $78.7 million, up from $68.9 million a year earlier, resulting in a basic income per common unit of $0.48, compared to $0.04 in the previous year.

The financial performance was bolstered by strong contributions from all three operational segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment saw revenues increase by $53.1 million, driven by higher water disposal service fees and increased volumes processed. The Crude Oil Logistics segment experienced a revenue surge of $271.8 million, primarily due to higher crude oil prices and increased production. However, the Liquids Logistics segment reported a slight decline in operating income, attributed to lower propane sales following the sale of its wholesale propane business in the previous year.

Operationally, NGL Energy Partners LP has made strategic moves, including the expansion of its Lea County Express Pipeline System, which is expected to increase capacity significantly by the end of 2026. This expansion is supported by a long-term volume commitment contract, indicating a focus on enhancing service capabilities and customer commitments. The partnership also reported a total of 124.8 million common units outstanding as of July 31, 2026, reflecting a slight increase in unit count.

The company’s balance sheet showed total assets of approximately $4.18 billion, with current assets exceeding current liabilities by about $92.9 million. Cash and cash equivalents decreased to $5.1 million from $8.5 million at the end of the previous quarter, while accounts receivable also saw a decline. The partnership's long-term debt stood at $3.26 billion, with a significant portion attributed to its ABL Facility and the 2026 Term Loan B, which are subject to variable interest rates.

Looking ahead, NGL Energy Partners LP anticipates continued growth driven by its strategic initiatives and operational efficiencies. The partnership plans to maintain its focus on capital expenditures, with an estimated $200 million allocated for growth and $45 million for maintenance in the fiscal year ending March 31, 2027. The board of directors is also evaluating the potential reinstatement of common unit distributions, contingent on financial performance and market conditions.