NuStar Energy L.P. (NYSE:NS) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET
Company Participants
Pam Schmidt – Vice President-Investor Relations
Brad Barron – President and Chief Executive Officer
Tom Shoaf – Executive Vice President and Chief Financial Officer
Danny Oliver – Executive Vice President-Business Development and Engineering
Conference Call Participants
Doug Irwin – Citi
Noah Katz – JPMorgan
Chris Jeffrey – Mizuho
Selman Akyol – Stifel
Operator
Good day and thank you for standing by. Welcome to the NuStar Energy L.P. Third 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 turn 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 L.P.'s Chairman and CEO, Brad Barron; our Executive Vice President and CFO, Tom Shoaf; and our Executive Vice President of Business Development and Engineering, Danny Oliver, as well as 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 U.S. 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 here 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 third quarter. We generated $180 million of total EBITDA in the third quarter, up $2 million compared to the third quarter of 2022’s EBITDA of $178 million. Our Pipeline segment EBITDA was up almost 10% in the third quarter compared to the same period in 2022.