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To: Celtictrader who wrote (31739)	8/8/2019 7:33:06 AM
From: Celtictrader	Read Replies (1) \| Respond to of 34328

NGL-August 8, 2019 6:45 AM EDT NGL Energy Partners LP Announces First Quarter Fiscal 2020 Financial Results TULSA, Okla. --(BUSINESS WIRE)--Aug. 8, 2019-- NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today reported net income for the quarter ended June 30, 2019 of $8.0 million , compared to a net loss of $169.3 million for the quarter ended June 30, 2018 . Highlights include: Adjusted EBITDA for the first quarter of Fiscal 2020 was $86.8 million , which includes an $11.2 million loss related to our Refined Products and Renewables segment for the period, compared to $80.3 million for the first quarter of Fiscal 2019 Announced the sale of a significant portion of the Partnership’s Refined Products business for approximately $300 million , including equity consideration, inventory and net working capital, based on June 30, 2019 values and subject to actual values at closing Closed the acquisition of the assets of Mesquite Disposals Unlimited, LLC (“Mesquite”) on July 2, 2019 Issued 1,800,000 of 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units for net proceeds of $42.6 million and $450 million of 7.500% Senior Notes Due 2026 for net proceeds of $442.1 million Redeemed all $240 million of Class A Preferred Units at a total cost of $265.1 million plus accrued and unpaid distributions Growth capital expenditures, including acquisitions and other investments, totaled approximately $214.7 million during the first fiscal quarter of Fiscal 2020, of which approximately $197.9 million related to investments in the Partnership’s Water Solutions segment Fiscal 2020 Adjusted EBITDA guidance target of $600 million remains unchanged “With our accomplishments over the past several months, we continue to significantly improve the stability of cash flow and focus on our three core businesses,” stated Mike Krimbill , NGL’s CEO. “Each of those core operating units is performing at or above our expectations while experiencing significant growth in our Water Solutions and Liquids platforms, as evidenced by our recent Mesquite disposal system and DCP terminal acquisitions. With the Refined Products transaction we announced this morning, we will reduce indebtedness and the volatility of our earnings.” finance.yahoo.com