Filing Flows › NGL Energy Partners LP (NGL) › Q1 FY27
NGL Energy Partners LP (NGL) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Aug 4, 2026
NGL Energy Partners LP (NGL) reported revenue of $990M for the first quarter fiscal 2027 (Q1 FY27), +59% from a year earlier and +4% from the quarter before. Operating margin was 14.7%, net earnings $78.7M (8.0% of revenue).
NGL Energy Partners LP, Q1 FY27: revenue $990M (+59% year over year), operating margin 14.7%, net earnings $78.7M, operating cash flow $77.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $990M | +4% | +59% |
| Operating profit | $145M | — | +49% |
| Net earnings | $78.7M | — | +14% |
| Operating cash flow | $77.0M | -30% | +132% |
What changed
Revenue was $990.0M in Q1 FY27, up 59% year over year and up 4% from the previous quarter. Product was the largest line at 78% of revenue. Product added $337.9M year over year (up 77%), 92% of the total change.
Operating profit was $145.3M, a 14.7% margin (down 1.0 points year over year). Of the extra revenue versus Q1 FY26, 13% reached operating profit, below the 16% margin then. Total costs grew 61% against revenue growth of 59%. The fastest-growing cost line was Cost of revenue (+79%). Net earnings were $78.7M, up 14% year over year. The effective tax rate was -0.4%.
Operating cash flow was $77.0M (up 132% year over year), 96% of net earnings. Non-cash charges added back $66.7M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $71.8M. Capital expenditures of $108.8M exceeded it, leaving free cash flow of −$31.7M.
Questions
What was NGL Energy Partners LP's revenue in the first quarter fiscal 2027?
NGL Energy Partners LP (NGL) reported revenue of $990M for the first quarter fiscal 2027 (Q1 FY27), +59% from a year earlier and +4% from the quarter before.
Was NGL Energy Partners LP profitable in the first quarter fiscal 2027?
Operating profit was $145M (14.7% of revenue) and net earnings $78.7M.