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Genesis Energy, L.P. Extends Common Unit Repurchase Program

1. Genesis Energy extends its equity repurchase program through December 2026. 2. Only 114,900 Class A common units purchased under the program so far.

Shares Buyback
-0.91%Current Return
VS
-0.08%S&P 500
$13.2103/04 08:00 AM EDTEvent Start
$13.0903/05 02:34 PM EDTLatest Updated
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FAQ

Why Bullish?

Extending the buyback program signals confidence in future performance, similar to past successful buybacks seen in various companies which often led to stock price increases.

How important is it?

The buyback program indicates management's strong future outlook, which is critical for investor confidence and can positively influence stock price.

Why Long Term?

Extended buybacks typically support price stabilization and potential appreciation over time, evidenced by previous examples such as other energy companies maintaining their stock value post-announcement.

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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced that its Board of Directors has extended its common equity repurchase program for its outstanding Class A common units (the “Program”). The Program, approved on August 8, 2023, was originally scheduled to expire on December 31, 2024. The Board has extended the Program through December 31, 2026, unless expanded and extended prior thereto. To date, Genesis has purchased only 114,900 Class A common units under the Program.

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