NuStar Energy L.P. (NYSE:NS) Q2 2023 Earnings Conference Call August 3, 2023 10:00 AM ET
Company Participants
Pam Schmidt - Vice President of Investor Relations
Brad Barron - Chairman & Chief Executive Officer
Tom Shoaf - Executive Vice President & Chief Financial Officer
Conference Call Participants
Michael Blum - Wells Fargo
Chris Jeffrey - Mizuho
Selman Akyol - Stifel
Operator
Good day, and thank you for standing by. Welcome to the NuStar Energy LP Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised, today’s conference is being recorded.
I would now like to hand the conference over to your speaker today Pam Schmidt, Vice President of Investor Relations. Please go ahead.
Pam Schmidt
Good morning, and welcome to today’s call. On the call today are NuStar Energy LP’s Chairman and CEO, Brad Barron; and our Executive Vice President and CFO, Tom Shoaf; as well as our Executive Vice President of Business Development, and Engineering, Danny Oliver, along with other members of our management team.
Before we get started, we would like to remind you that during the course of this call, NuStar management will make statements about our current views concerning the future performance of NuStar that are forward-looking statements. These statements are subject to the various risks, uncertainties, and assumptions described in our filings with the Securities and Exchange Commission. Actual results may differ materially from those described in the forward-looking statements.
During the course of this call, we will also refer to certain non-GAAP financial measures. These non-GAAP financial measures should not be considered as alternatives to GAAP measures. Reconciliations of certain of these non-GAAP financial measures to US GAAP may be found in our earnings press release and if applicable, additional reconciliations may be located on the financials page of the Investors section of our website at nustarenergy.com.
With that, I will turn the call over to Brad.
Brad Barron
Good morning. Thank you all for joining us today to hear about our solid quarterly results, our progress on our strategic initiatives and our positive outlook for the rest of 2023.
Let’s get started with a few highlights of our second quarter results. We generated $169 million of total EBITDA in the second quarter, comparable to second quarter 2022 adjusted EBITDA of $174 million. Our pipeline segment EBITDA was up around 5% in the second quarter over the same period in 2022.