**NGL Energy Partners LP Announces Fiscal Year Results and Strategic Repositioning**
NGL Energy Partners LP (NYSE: NGL) has released its financial results for the fiscal year ended March 31, 2026, showcasing a revenue of $3.16 billion compared to $3.47 billion in the previous fiscal year. The company reported a net loss attributable to NGL Energy Partners LP of $142.3 million, a stark contrast to the net income of $39.4 million reported for the year ended March 31, 2025. This shift in profitability was primarily influenced by a $273 million decrease in operating income within the Crude Oil Logistics segment, largely due to a goodwill impairment charge and lower pipeline revenue. Adjusted EBITDA from continuing operations increased to $660.2 million from $622.9 million in the prior year, reflecting underlying operational improvements despite the overall net loss.
The company has strategically repositioned its business by completing several dispositions during the fiscal year, including the sale of certain investments in unconsolidated entities within its Water Solutions segment, its refined products business, and most of its wholesale propane business. These actions are part of a broader effort to capitalize on core areas of competitive strength, focus on generating stable cash flows, and improve the company's credit profile. The company's employee headcount stood at 449 as of March 31, 2026, spread across 14 states and Canada, with a significant portion dedicated to the Water Solutions segment.
Key operational developments include the Water Solutions segment processing approximately 1.063 billion barrels of produced water during the year, solidifying its position as a leading independent produced water transportation and disposal company. The Crude Oil Logistics segment transported approximately 72,000 barrels per day of crude oil on the Grand Mesa Pipeline. The Liquids Logistics segment sold approximately 1.2 billion gallons of natural gas liquids, or 3.17 million gallons per day. These figures reflect the ongoing operations of the company after the aforementioned dispositions.
Looking ahead, NGL Energy Partners LP is focused on positioning itself as a leading pure-play water solutions company, prudently managing its balance sheet to reduce debt and leverage, and operating in a safe and environmentally responsible manner. The company also completed a debt refinancing transaction, closing a $950 million seven-year senior secured term loan "B" credit facility and amending its asset-based revolving credit facility. The board of directors of the GP expects to evaluate the reinstatement of the common unit distributions in due course, taking into account a number of important factors, including the company's leverage, liquidity, the sustainability of cash flows, capital expenditures and the overall performance of its businesses.
About NGL Energy Partners LP
NGL Energy Partners LP is a diversified midstream energy company providing water solutions, crude oil transportation, storage, and liquids logistics services across key U.S. oil and gas producing regions. It operates long-term, fee-based contracts with major producers, offering environmentally responsible water disposal, recycling, and transportation. The company focuses on stable cash flows, strategic asset management, and industry relationships within the North American energy infrastructure sector.
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