NGL Energy Partners LP Reports $3.47 Billion Revenue and Strategic Business Shift

**NGL Energy Partners LP Reports Fiscal Year Performance Amid Strategic Shift**

NGL Energy Partners LP (NYSE: NGL) has released its 10-K filing, detailing the company's financial performance for the fiscal year ended March 31, 2025, alongside significant strategic repositioning. The partnership reported total revenues of $3.47 billion, a decrease from $4.15 billion in the prior fiscal year. Cost of sales amounted to $2.51 billion, compared to $3.19 billion in the previous year, while operating income stood at $329.4 million, an increase from $161.9 million. Net income attributable to NGL Energy Partners LP was $39.4 million, a significant improvement from a net loss of $143.8 million in the prior fiscal year.

A key aspect of NGL Energy Partners' recent activities involves a strategic shift in its business portfolio. The company completed the wind-down of its biodiesel business and executed an agreement to sell its refined products business, which closed on April 30, 2025. As a result, the financial results of these operations have been classified as discontinued operations, with prior periods retrospectively adjusted. Additionally, NGL Energy Partners finalized the sale of 17 natural gas liquids terminals and most of its wholesale propane business on April 30, 2025. These strategic moves are aimed at focusing on core areas of competitive strength and generating stable cash flows.

Operationally, the Water Solutions segment processed approximately 958.3 million barrels of produced water during the fiscal year, solidifying its position as a leading independent water transportation and disposal company. The Crude Oil Logistics segment transported an average of 61,000 barrels of crude oil per day on the Grand Mesa Pipeline. The Liquids Logistics segment sold approximately 1.6 billion gallons of natural gas liquids, or 4.26 million gallons per day. The company also completed the expansion of its Lea County Express Pipeline System, increasing its capacity from 140,000 barrels per day to 340,000 barrels per day.

Looking ahead, NGL Energy Partners is focused on prudently managing its balance sheet, reducing debt, and maintaining sufficient liquidity to finance growth projects. The company is also committed to operating in a safe and environmentally responsible manner, focusing on consistent annual cash flows from operations under multi-year contracts that minimize commodity price risk and generate fee-based revenues. The board of directors of the general partner expects to evaluate the reinstatement of common unit distributions in due course, taking into account leverage, liquidity, sustainability of cash flows, capital expenditures, and overall business performance. At the end of the fiscal year 2025, the company had 569 employees across 27 states and Canada.