Filing Flows › Genesis Energy LP (GEL) › Q3 2025
Genesis Energy LP (GEL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Genesis Energy LP (GEL) reported revenue of $414M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +10% from the quarter before. Operating margin was 19.0%, net earnings $9.2M (2.2% of revenue).
Genesis Energy LP, Q3 2025: revenue $414M (+4% year over year), operating margin 19.0%, net earnings $9.2M, operating cash flow $70.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $414M | +10% | +4% |
| Operating profit | $78.6M | +16% | +62% |
| Net earnings | $9.2M | — | — |
| Operating cash flow | $70.3M | +50% | -20% |
| Free cash flow | $43.3M | — | — |
What changed
Revenue was $414.0M in Q3 2025, up 4% year over year and up 10% from the previous quarter. Fee-based revenues was the largest line at 58% of revenue. Fee-based revenues added $46.1M year over year (up 24%), 276% of the total change. Product sales declined 15%.
Operating profit was $78.6M, a 19.0% margin (up 6.8 points year over year). Of the extra revenue versus a year earlier, 180% reached operating profit, above the 12% margin then. Total costs fell 4% while revenue rose 4%. Net earnings were $9.2M. The effective tax rate was 1.1%.
Operating cash flow was $70.3M (down 20% year over year), 308% of net income including minority interests. Non-cash charges added back $57.1M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $13.8M. Capital expenditures of $27.0M left free cash flow of $43.3M.
Questions
What was Genesis Energy LP's revenue in the third quarter 2025?
Genesis Energy LP (GEL) reported revenue of $414M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +10% from the quarter before.
Was Genesis Energy LP profitable in the third quarter 2025?
Operating profit was $78.6M (19.0% of revenue) and net earnings $9.2M.
Source: Genesis Energy LP 10-Q on SEC EDGAR.