NGL Energy: Plunges as Q4 adjusted earnings sink on winter storm hit

NGL Energy Partners LP

04/06/2021 14:01

** Shares of oil and gas refiner  NGL.N  down as much as
18.53% at $2.55 premarket
    ** Co's Q4 adjusted EBITDA from continuing operations fell
to $94.3 million from $161.8 million a year earlier, hit by
lower volumes in each of its operating segments
    ** February winter storm Uri reduced not only volumes at the
lease in all areas of co's operations, including the DJ Basin,
but also refinery demand due to outages on the United States
Gulf Coast - NGL
     ** Co expects to generate excess cash flow in fiscal 2022,
which will be utilized to repay outstanding indebtedness and
improve leverage
    ** Up to last close, stock up ~30% YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))