Genesis Energy, L.P. (NYSE:GEL) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET

Company Participants

Dwayne Morley - Vice President-Investor Relations

Grant Sims - Chief Executive Officer

Ryan Sims - President & Chief Commercial Officer

Conference Call Participants

TJ Schultz - RBC

Michael Blum – Wells Fargo

Operator

Good morning, ladies and gentlemen, and welcome to the Genesis Energy Second Quarter 2023 Earnings Conference Call. After the prepared remarks, there will be an opportunity to ask questions. Instructions will be given at that time.

And without further ado, I will now turn the program over to Dwayne Morley.

Dwayne Morley

Thanks, Chris. Good morning. Welcome to the 2023 second quarter conference call for Genesis Energy. Genesis has four business segments. The Offshore Pipeline Transportation segment is engaged in providing the critical infrastructure to move oil produced from the long-lived world-class reservoirs from the deepwater Gulf of Mexico to onshore refining centers. Sodium and Sulfur Services segment includes trona, trona-based exploring, mining, processing, producing, marketing and selling activities, as well as the processing of sour gas streams to remove sulfur at refining operations.

The Onshore Facilities and Transportation segment is engaged in the transportation, handling, blending, storage and supply of energy products, including crude oil and refined products. The Marine Transportation segment is engaged in the maritime transportation of primarily refined petroleum products. Genesis’ operations are primarily located in Wyoming, Gulf Coast states and the Gulf of Mexico.

During this conference call, management may be making forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The law provides safe harbor protection to encourage companies to provide forward-looking information. Genesis intends to avail itself of those safe harbor provisions and directs you to its most recently filed and future filings with the Securities and Exchange Commission.

We also encourage you to visit our website at genesisenergy.com, where a copy of the press release we issued today is located. The press release also presents a reconciliation of non-GAAP financial measures to the most comparable GAAP financial measures.

At this time, I would like to introduce Grant Sims, CEO of Genesis Energy, L.P. Mr. Sims will be joined by Kristen Jesulaitis, Chief Financial Officer and Chief Legal Officer; Ryan Sims, President and Chief Commercial Officer; and Louie Nicol, Chief Accounting Officer.

Grant Sims

Good morning to everyone, and thanks for listening in. As we mentioned in our earnings release this morning, our financial results for the second quarter were slightly ahead of our internal expectations and once again demonstrated the resilient earnings power of our diversified market-leading businesses.