Genesis Energy, L.P. (NYSE:GEL) Q2 2022 Results Conference Call July 28, 2022 10:00 AM ET
Company Participants
Dwayne Morley - VP, IR
Grant Sims - CEO
Bob Deere - CFO
Ryan Sims - SVP, Finance & Corporate Development
Conference Call Participants
Karl Blunden - Goldman Sachs
T.J. Schultz - RBC
Operator
Greetings, and welcome to the Genesis Energy LP Second Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Dwayne Morley, Vice President of Investor Relations.
Dwayne Morley
Good morning. Welcome to the 2022 Second Quarter Conference Call for Genesis Energy. Genesis has 4 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. The Sodium Minerals and Sulfur Services segment includes trona and 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 products. Genesis' operations are primarily located in Wyoming, the 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 provisions -- 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'd like to introduce Grant Sims, CEO of Genesis Energy LP. Mr. Sims will be joined by Bob Deere, Chief Financial Officer; and Ryan Sims, Senior Vice President, Finance and Corporate Development.
Grant Sims
Good morning to everyone, and thanks for listening in. The second quarter was a great quarter for Genesis as our market-leading businesses exceeded our internal expectations, setting the stage for what we believe is significant growth and improving financial performance over the coming quarters and years. These results were largely driven by a return to normal operations and increasing volumes in our offshore segment relative to the first quarter as well as sequential quarterly growth in each of our other segments, which is reflective of the constructive backdrop for each of our specific businesses.