Shares of Genesis Energy LP (GEL) plunged 6.06% in pre-market trading on Thursday following the release of its disappointing first-quarter 2025 financial results. The midstream energy company's earnings fell significantly short of analysts' expectations, triggering a sell-off among investors.

Genesis Energy reported a net loss from continuing operations of $0.60 per share for Q1 2025, considerably worse than the FactSet estimate of a $0.23 loss per share. The company's financial performance deteriorated substantially compared to the same period last year, with the net loss widening from $0.15 per share in Q1 2024 to $0.60 per share. Revenue for the quarter came in at $398.311 million, down from $434.45 million in the previous year. The company's bottom line was severely impacted, with a reported net income of -$460.306 million for the quarter.

Despite the weak financial results, Genesis Energy maintained a positive outlook on its operational environment. The company stated that it does not anticipate any significant impact from proposed or increased tariffs. Additionally, Genesis Energy expressed confidence that recent fluctuations in commodity prices have not affected the activity levels of its producer customers in the Gulf of America. However, investors seem to be focusing on the immediate financial underperformance, as reflected in the sharp stock price decline.