NGL Energy Partners (NGL) Is Up 6.5% After EPS Turns Positive On Strong Q1 2026 Results

• NGL Energy Partners LP reported past first-quarter 2026 results, with revenue rising to US$989.99 million and net income to US$78.73 million, and earnings per share from continuing operations turning from a loss to US$0.48.

• The swing from a basic loss per share from continuing operations of US$0.26 a year earlier to positive earnings highlights a meaningful shift in the partnership's operating performance and profitability profile.

• We'll now examine how this move from a loss to positive earnings per share shapes NGL Energy Partners' broader investment narrative.

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What Is NGL Energy Partners' Investment Narrative?

To own NGL Energy Partners today, you need to believe that its volatile earnings record can gradually give way to more consistent profitability, while the balance sheet and preferred distribution load remain manageable. The latest quarter's move from a loss to US$0.48 in earnings per unit supports that case in the short term and helps explain some of the very strong recent unit price gains, but it does not erase the sizeable loss reported for FY2025 or the history of uneven results. Near term, the key catalysts are whether this improved operating performance is repeated in coming quarters and how aggressively management continues its unit buybacks alongside high-cost preferred payouts. The fresh earnings beat strengthens the bullish narrative, but it also raises the bar for what investors expect next.

However, investors should be aware of the ongoing pressure from sizeable preferred distributions.NGL Energy Partners' shares have been on the rise but are still potentially undervalued by 27%. Find out what it's worth .

Exploring Other Perspectives

The Simply Wall St Community's single fair value estimate of US$24.63 suggests some see meaningful upside, yet recent earnings volatility and heavy preferred obligations could still weigh on NGL's long-term performance, so it is worth comparing several viewpoints before deciding.

Explore another fair value estimate on NGL Energy Partners - why the stock might be worth as much as 37% more than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your NGL Energy Partners research is our analysis highlighting 3 key rewards that could impact your investment decision.

• Our free NGL Energy Partners research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate NGL Energy Partners' overall financial health at a glance.