Filing Flows › NGL Energy Partners LP (NGL) › Q2 FY27
NGL Energy Partners LP (NGL) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Nov 5, 2026
NGL Energy Partners LP (NGL) reported revenue of $987M for the second quarter fiscal 2027 (Q2 FY27), +46% from a year earlier and -0.3% from the quarter before. Operating margin was 2.4%, net loss $42.6M (4.3% of revenue).
NGL Energy Partners LP, Q2 FY27: revenue $987M (+46% year over year), operating margin 2.4%, net loss $42.6M, operating cash flow $94.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $987M | -0.3% | +46% |
| Operating profit | $23.9M | -84% | -75% |
| Net earnings | −$42.6M | -154% | -245% |
| Operating cash flow | $94.6M | +23% | +134% |
What changed
Revenue was $986.6M in Q2 FY27, up 46% year over year and roughly flat from the previous quarter. Product was the largest line at 78% of revenue. Product added $281.2M year over year (up 58%), 90% of the total change.
Operating profit was $23.9M, a 2.4% margin (down 11.5 points year over year). Operating profit fell $70.3M even though revenue rose $311.9M versus Q2 FY26, so costs grew faster than sales. Total costs grew 66% against revenue growth of 46%. The fastest-growing cost line was Cost of revenue (+73%). The quarter ended with a net loss of $42.6M, after a profit of $80.1M the previous quarter. Net interest and other expense of $66.4M was the main reason.
Operating cash flow was $94.6M (up 134% year over year). Non-cash charges added back $68.0M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items added $65.0M. Capital expenditures of $118.0M exceeded it, leaving free cash flow of −$23.4M.
Questions
What was NGL Energy Partners LP's revenue in the second quarter fiscal 2027?
NGL Energy Partners LP (NGL) reported revenue of $987M for the second quarter fiscal 2027 (Q2 FY27), +46% from a year earlier and -0.3% from the quarter before.
Was NGL Energy Partners LP profitable in the second quarter fiscal 2027?
Operating profit was $23.9M (2.4% of revenue) and net loss $42.6M.