Filing Flows › Genesis Energy LP (GEL) › Q2 2025
Genesis Energy LP (GEL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Genesis Energy LP (GEL) reported revenue of $377M for the second quarter 2025 (Q2 2025), -12% from a year earlier and -5% from the quarter before. Operating margin was 17.9%, net earnings $10.0M (2.7% of revenue).
Genesis Energy LP, Q2 2025: revenue $377M (-12% year over year), operating margin 17.9%, net earnings $10.0M, operating cash flow $47.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $377M | -5% | -12% |
| Operating profit | $67.7M | +208% | +36% |
| Net earnings | $10.0M | — | — |
| Operating cash flow | $47.0M | +89% | -55% |
What changed
Revenue was $377.3M in Q2 2025, down 12% year over year and down 5% from the previous quarter. Fee-based revenues was the largest line at 59% of revenue. Product sales lost $74.8M year over year (down 35%), 142% of the total change.
Operating profit was $67.7M, a 17.9% margin (up 6.4 points year over year). Total costs fell 19% while revenue fell 12%. Net earnings were −$406K. The effective tax rate was 3.3%.
Operating cash flow was $47.0M (down 55% year over year), 469% of net income including minority interests. Non-cash charges added back $55.9M of depreciation and amortization and $3.2M of share-based compensation. Working capital and other items used $22.1M. Capital expenditures of $54.6M exceeded it, leaving free cash flow of −$7.6M.
Questions
What was Genesis Energy LP's revenue in the second quarter 2025?
Genesis Energy LP (GEL) reported revenue of $377M for the second quarter 2025 (Q2 2025), -12% from a year earlier and -5% from the quarter before.
Was Genesis Energy LP profitable in the second quarter 2025?
Operating profit was $67.7M (17.9% of revenue) and net earnings $10.0M.
Source: Genesis Energy LP 10-Q on SEC EDGAR.