NGL Energy Partners LP (NYSE: NGL) experienced a pre-market plunge of 7.27% on Tuesday, following the release of its third-quarter earnings report, which revealed mixed results across its business segments.
While the company's Water Solutions segment reported a strong performance, with adjusted EBITDA increasing to $132.7 million from $121.3 million in the prior year and a 12% year-over-year rise in physical water disposal volumes, other segments faced challenges.
The Biodiesel segment recorded a negative adjusted EBITDA of $12.1 million during the quarter, negatively impacting the company's overall performance. Additionally, the Liquid Logistics segment saw a significant drop in adjusted EBITDA, falling to $8.2 million from $26.3 million in the prior year, primarily due to the winding down of the Biodiesel business.
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