Filing Flows › NGL Energy Partners LP (NGL) › Q4 FY26
NGL Energy Partners LP (NGL) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed May 28, 2026
NGL Energy Partners LP (NGL) reported revenue of $950M for the fourth quarter fiscal 2026 (Q4 FY26), -2% from a year earlier and +4% from the quarter before. Operating margin was -21.8%, net loss $287M (30.2% of revenue).
NGL Energy Partners LP, Q4 FY26: revenue $950M (-2% year over year), operating margin -21.8%, net loss $287M, operating cash flow $110M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $950M | +4% | -2% |
| Operating profit | −$207M | -288% | -304% |
| Net earnings | −$287M | -708% | -2190% |
| Operating cash flow | $110M | -40% | -29% |
| Free cash flow | $78.4M | +71% | -33% |
What changed
Revenue was $949.5M in Q4 FY26, down 2% year over year and up 4% from the previous quarter. Product was the largest line at 80% of revenue.
Operating costs exceeded revenue by $206.6M, an operating margin of -21.8%. Total costs grew 30% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+138%). The quarter ended with a net loss of $286.8M, after a profit of $48.2M the previous quarter.
Operating cash flow was $110.0M (down 29% year over year). Non-cash charges added back $66.3M of depreciation and amortization. Working capital and other items added $330.6M. Capital expenditures of $31.6M left free cash flow of $78.4M.
Questions
What was NGL Energy Partners LP's revenue in the fourth quarter fiscal 2026?
NGL Energy Partners LP (NGL) reported revenue of $950M for the fourth quarter fiscal 2026 (Q4 FY26), -2% from a year earlier and +4% from the quarter before.
Was NGL Energy Partners LP profitable in the fourth quarter fiscal 2026?
Operating loss was $207M (-21.8% of revenue) and net loss $287M.