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NGL Energy Partners NGL Q2 2026 earnings

Reported November 4, 2025 · After market close

Revenue$674.7MMiss by $26.1M
EPS$0.02
Revenue estimate$700.8M

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$734.6M
EPS estimate$0.22

Financials

Q2 2026

Income statement

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Revenue$674.7M-10.8%
Gross profit$253.7M+8.6%
Operating income$94.3M+15.7%
Net income$29.3M+1,093%

Balance sheet

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Cash & equivalents$8.7M+92.6%
Total debt$3.0B-6.2%
Total equity$123.8M-33.2%
Total assets$4.3B-12.0%

Cash flow

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Operating cash flow$40.5M+502%
CapEx$30.9M-79.1%
Free cash flow$9.5M+107%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$767.08M+28.6%
Enterprise value$3.79B-0.9%
P/E6.1×—
P/S0.2×+0.1×

Profitability

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Gross margin30.8%+5.7pp
Operating margin11%—
Net margin3.9%+2.5pp
FCF margin7.2%+6.8pp

Returns & leverage

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Return on equity81.1%+62.1pp
Debt / equity24.5×+7.1×
Current ratio1.3×0.0×

Segments

By product

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Crude oil sales$239.9M-3.9%
Disposal service fees$179.8M+15.5%
Butane sales$114.0M-7.7%
Propane$31.7M-64.7%
Crude oil transportation and other$7.0M-59.0%

By segment

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Liquids Logistics$244.7M-26.0%
Crude Oil Logistics$220.0M-9.8%
Water Solutions$209.7M+15.3%

By geography

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Non-US$21.0M-23.4%

FAQ

When did NGL Energy Partners report Q2 2026 earnings?
NGL Energy Partners (NGL) reported Q2 2026 earnings on November 4, 2025 after market close.
What were NGL Energy Partners's Q2 2026 revenue and EPS?
NGL Energy Partners reported revenue of $674.7M and eps of $0.02 for Q2 2026.
Did NGL Energy Partners beat estimates in Q2 2026?
Revenue missed the consensus estimate of $700.8M by $26.1M.
How did NGL Energy Partners's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 50.1% from $1.4B a year earlier.
Where can I find NGL Energy Partners's Q2 2026 SEC filings?
You can read the 10-Q periodic report (0001504461-25-000021) directly on SEC EDGAR. The filing index links above go to sec.gov.