NGL Energy Partners Q1 earnings call highlights. August 5, 2026 Key points. * NGL Energy Partners reported a strong fiscal Q1 2027: Consolidated adjusted EBITDA rose nearly 30% year over year to $186.2 million, driven by record produced-water disposal volumes and a 26% increase in Water Solutions EBITDA. * Water Solutions growth projects are expanding contracted capacity: Produced-water commitments reached approximately 1.77 million barrels per day, while the LEX II Extension is expected to add transportation capability and enter service by year-end. * The partnership raised fiscal 2027 guidance to $725 million-$735 million of adjusted EBITDA and expects leverage to decline toward four times by year-end; it also plans to redeem about half of its remaining Class D preferred securities, with a common-unit distribution potentially returning afterward. * MarketBeat previews the top five stocks to own by September 1st. NGL Energy Partners NYSE: NGL reported a strong start to fiscal 2027, led by record produced-water disposal volumes and higher earnings from its Water Solutions segment, while raising its full-year adjusted EBITDA outlook by $10 million. The partnership said consolidated adjusted EBITDA from continuing operations rose to $186.2 million in the fiscal first quarter from $143.9 million a year earlier, an increase of nearly 30%. Water Solutions generated $179.9 million of adjusted EBITDA, up 26% from $142.9 million in the prior-year period and representing 91% of partnership EBITDA for the quarter. "We are pleased to report a strong start to fiscal 2027 and continued execution on our multi-year strategy of de-leveraging the balance sheet through high-return water growth projects," CFO Brad Cooper said on the company's earnings call. Record water volumes drive results. NGL physically disposed of approximately 3.32 million barrels per day of produced water during the quarter, a company record and a 19.6% increase from 2.77 million barrels per day in the first quarter of fiscal 2026. Total volumes for which the company was paid, including deficiency volumes, were 3.43 million barrels per day, compared with 3.06 million barrels per day a year earlier. Cooper attributed the Water Solutions earnings growth primarily to higher disposal volumes from contracted producer customers, as well as increased skim-oil revenue. Skim-oil volumes rose with physical water disposal activity, while a slight increase in skim-oil percentage and higher crude prices on unhedged skim-oil barrels also benefited results. Water Solutions operating expenses were $0.21 per barrel in the quarter, down $0.01 per barrel from the comparable prior-year period. Cooper said higher volumes should continue to dilute the fixed-cost component of the business over time. The company said more than 90% of its produced water is delivered by investment-grade counterparties, while Water Solutions accounted for more than 85% of trailing 12-month adjusted EBITDA. Growth projects and contracted capacity. During the quarter, NGL executed its LEX II Extension project, which will expand the long-haul LEX Pipeline System to 81 miles. The system is expected to have the capability to transport approximately 560,000 barrels per day of produced water from Eddy and Lea counties in New Mexico to Andrews County, Texas. Discover more Stock Screener Tool Market Cap Calculator Company News The extension is supported by a newly signed long-term volume commitment that includes increased volume commitments and an additional four-township committed area in Eddy County. NGL expects the project to enter service by the end of the calendar year. Including the new agreement and other recently executed commitments, NGL said total produced-water volume commitments reached approximately 1.77 million barrels per day, representing roughly 53% of its total volumes. Permitted injection capacity increased by about 200,000 barrels per day during the quarter to 5.62 million barrels per day. Doug White, executive vice president of Water Solutions, said the company added 200,000 barrels per day of new capacity for recently signed deals in the quarter and expects to develop another 300,000 barrels per day during the remainder of the fiscal year. The total 500,000 barrels per day of capacity is contracted, he said. White said NGL is also working on potential fiscal 2028 agreements and expects to bring on between 16 and 18 wells this year, along with surface and pipeline expansions. He said the company does not view its development activity as constrained by capacity, describing execution and the timing of new contracts as the key considerations. Guidance raised, capital spending weighted to early year. Based on first-quarter outperformance and confidence in customer activity, NGL raised its fiscal 2027 adjusted EBITDA guidance to a range of $725 million to $735 million, from prior guidance of $715 million to $725 million. CEO Mike Krimbill said Water Solutions is experiencing 10% annual growth while margins remain steady. He added that fiscal 2027 growth capital expenditures will exceed $200 million, with most spending occurring during the first two quarters. A significant portion of the EBITDA from those projects is not expected to be recognized until fiscal 2028. "If it continues, we anticipate further increases in EBITDA guidance," Krimbill said of the company's performance. Elsewhere, Crude Oil Logistics adjusted EBITDA was $8.96 million, compared with $9.6 million in the year-earlier quarter. Grand Mesa Pipeline volumes averaged about 74,000 barrels per day, up from 55,000 barrels per day a year earlier. Liquids Logistics adjusted EBITDA increased to $10.3 million from $2.9 million, primarily due to additional contracted activity at the company's remaining butane terminals. Cooper said most earnings from the butane blending business are expected in the back half of the fiscal year. Class D preferreds and distribution outlook. NGL said it reduced leverage in the first quarter despite growth capital spending being concentrated in the first half of the fiscal year. Krimbill said long-term debt is expected to remain relatively flat until the second half, while leverage declines each quarter. The company expects to redeem about 50% of its remaining Class D preferred securities during fiscal 2027, while leaving the balance outstanding. Krimbill said NGL has investment opportunities expected to produce returns exceeding the cost of the preferreds, making a full redemption not the company's highest use of cash. Class D holders can put the securities to NGL no earlier than Jan. 1, 2028. Krimbill said the company is preparing for that possibility and believes any such obligation could be financed. Cooper said NGL has line of sight to debt leverage of four times by the end of the fiscal year, excluding preferred securities. He added that restoring a common-unit distribution could return to consideration after the company redeems about half of the Class D preferreds, though the decision would also depend on leverage and capital needs for growth projects. Looking ahead, Krimbill said NGL is positioning itself to potentially build another large-diameter water pipeline, pursue merger-and-acquisition opportunities, and reinstate a common-unit distribution. He said the company is not currently in discussions regarding acquisitions. About NGL Energy Partners (NYSE:NGL). NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions. The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. 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NGL Energy Partners (NYSE:NGL) releases quarterly earnings results, beats estimates by $0.37 EPS. August 4, 2026 Key points. * NGL Energy Partners beat quarterly earnings estimates, reporting EPS of $0.48 versus the $0.11 consensus estimate, while revenue reached $989.99 million compared with expectations of $346.13 million. * Consolidated adjusted EBITDA rose nearly 30% year over year to $186.2 million, prompting management to raise fiscal 2027 adjusted EBITDA guidance by $10 million to $725 million-$735 million. Water Solutions also posted record disposal volumes and a 26% increase in segment EBITDA. * The company signed more than 200,000 barrels per day of new commitments, authorized a $100 million share repurchase program, and expects to redeem about half of its remaining Class D preferreds; shares nevertheless fell 1.3% in Tuesday trading. * MarketBeat previews the top five stocks to own by September 1st. NGL Energy Partners (NYSE:NGL - Get Free Report) announced its quarterly earnings data on Tuesday. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.37, FiscalAI reports. NGL Energy Partners had a negative return on equity of 47.64% and a negative net margin of 4.51%.The firm had revenue of $989.99 million during the quarter, compared to analysts' expectations of $346.13 million. Here are the key takeaways from NGL Energy Partners' conference call: * Fiscal 2027 adjusted EBITDA guidance was raised by $10 million to $725 million-$735 million after consolidated first-quarter adjusted EBITDA rose nearly 30% year over year to $186.2 million. * Water Solutions delivered record physical disposal volumes of 3.32 million barrels per day, up 19.6% year over year, while contracted volumes and higher skim-oil revenue drove segment adjusted EBITDA up 26% to $179.9 million. * NGL signed more than 200,000 barrels per day of new volume commitments during the quarter and plans to develop another 300,000 barrels per day of contracted capacity this fiscal year, supporting continued growth into fiscal 2028. * Growth capital spending is expected to exceed $200 million this fiscal year and will be concentrated in the first half, keeping long-term debt relatively flat before leverage declines in the second half. * Management expects to redeem approximately 50% of the remaining Class D preferreds this fiscal year and said a common-unit distribution could potentially be reinstated in fiscal 2027, while also evaluating another large water pipeline and future M&A. NGL Energy Partners trading down 1.3%. Shares of NYSE NGL traded down $0.21 during trading on Tuesday, reaching $15.79. 156,743 shares of the company traded hands, compared to its average volume of 301,106. The firm's fifty day simple moving average is $15.86 and its 200 day simple moving average is $14.01. The stock has a market cap of $1.97 billion, a P/E ratio of -4.81 and a beta of 0.60. NGL Energy Partners has a 12-month low of $3.94 and a 12-month high of $18.80. Discover more MarketBeat Portfolio Tools Stock Market News Stock Split Calculator NGL Energy Partners announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued. Institutional trading of NGL Energy Partners. Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in shares of NGL Energy Partners by 9.4% in the fourth quarter. Wells Fargo & Company MN now owns 34,800 shares of the oil and gas company's stock valued at $348,000 after buying an additional 3,000 shares in the last quarter. XTX Topco Ltd lifted its position in shares of NGL Energy Partners by 9.0% during the 4th quarter. XTX Topco Ltd now owns 37,579 shares of the oil and gas company's stock valued at $376,000 after buying an additional 3,103 shares in the last quarter. Massar Capital Management LP lifted its position in shares of NGL Energy Partners by 23.2% during the 2nd quarter. Massar Capital Management LP now owns 28,143 shares of the oil and gas company's stock valued at $120,000 after buying an additional 5,295 shares in the last quarter. CreativeOne Wealth LLC grew its stake in NGL Energy Partners by 33.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 23,571 shares of the oil and gas company's stock valued at $141,000 after acquiring an additional 5,871 shares during the period. Finally, Royal Bank of Canada grew its stake in NGL Energy Partners by 71.2% in the 4th quarter. Royal Bank of Canada now owns 14,454 shares of the oil and gas company's stock valued at $145,000 after acquiring an additional 6,009 shares during the period. Hedge funds and other institutional investors own 40.62% of the company's stock. Wall Street analyst weigh in. Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of NGL Energy Partners from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Weiss Ratings cut shares of NGL Energy Partners from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy". About NGL Energy Partners. NGL Energy Partners LP is a publicly traded master limited partnership that provides midstream infrastructure and marketing services for the energy industry. The company focuses on the transportation, storage, fractionation and marketing of natural gas liquids (NGLs) and refined petroleum products. Through its integrated operations, NGL Energy Partners serves producers, processors, refiners and industrial customers across key U.S. energy-producing regions. The partnership's asset base includes pipelines, storage terminals, fractionation plants, and distribution facilities. Further reading. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider NGL Energy Partners, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NGL Energy Partners wasn't on the list. While NGL Energy Partners currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys. Discover the 10 Best High-Yield Dividend Stocks for 2026 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.