GEL FY 2013 Earnings Report — Genesis Energy, L.P. Revenue & Financial Results | Market Cap Arena

Genesis Energy, L.P.GEL

FY 2013 Earnings

Reported February 27, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.1B	—	$4.1B	—	1.6%
Op. Income	$111M	—	$114M	—	-2.6%
Gross Margin	3.8%	—	3.8%	—	-0.0pp
Net Margin	2.1%	—	2.4%	—	-0.3pp
EPS (Diluted)	$1.03	—	$1.23	—	-16.3%
Free Cash Flow	-$205M	—	$43M	—	-577.8%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$4.0B
GROSS PROFIT	$158M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$0
Operating Expenses	$47M
Cost & Expenses	$4.0B
OPERATING INCOME	$111M
Interest Income	$0
Interest Expense	$49M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$85M
Income Tax Expense	$845.0K
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$65M
EBIT	$111M
EBITDA	$172M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$4.0B
GROSS PROFIT	$158M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$0
Operating Expenses	$47M
Cost & Expenses	$4.0B
OPERATING INCOME	$111M
Interest Income	$0
Interest Expense	$49M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$85M
Income Tax Expense	$845.0K
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$65M
EBIT	$111M
EBITDA	$172M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$86M
Depreciation & Amortization	$65M
Stock-Based Compensation	$12M
Deferred Income Tax	-$152.0K
Other Non-Cash Items	$21M
Change in Working Capital	-$46M
OPERATING CASH FLOW	$138M
Capital Expenditure	-$343M
Acquisitions (Net)	-$325M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$13M
NET CASH FROM INVESTING	-$656M
Net Debt Issuance	$433M
Common Stock Repurchased	$0
Common Dividends Paid	-$168M
Other Financing Activities	$251M
NET CASH FROM FINANCING	$515M
FREE CASH FLOW	-$205M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$9M
Short-Term Investments	$0
Net Receivables	$368M
Inventory	$85M
Other Current Assets	$73M
TOTAL CURRENT ASSETS	$535M
PP&E (Net)	$1.1B
Goodwill	$325M
Intangible Assets	$63M
Long-Term Investments	$772M
Tax Assets	$0
Other Non-Current Assets	$38M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$2.9B
Account Payables	$316M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$447M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$16M
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.8B
Common Stock	$1.1B
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$199M
Other Equity	$601M
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$1.3B
Net Debt	$1.3B