NGL: revenue $990.0M, net income $78.7M. NGL revenue +59%, net income +1052% on below-the-line tax/interest shift; new lawsuit targets disposal ops

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Net income to common surged 1052% YoY to $61.2M while operating income rose only 49% to $145.3M — the bottom-line gain came from below-the-line items (lower net interest/tax deductions), not operations.

  MD&A: Operating Income & Key Financials verify on EDGAR →
• high

  New lawsuit filed July 29, 2026 alleges NGL's saltwater disposal operations flooded plaintiff's mineral estate; claims include gross negligence and seek unspecified economic/exemplary damages plus injunctive relief. Concurrent regulatory complaint seeks permit suspension for certain Reeves County wells.

  Legal Proceedings verify on EDGAR →
• high

  Water Solutions operating income jumped $53.6M YoY (to $138.6M) on 543k bbl/day volume growth and the LEX II pipeline expansion (165k bbl/day capacity, online end-2026), backed by new long-term contracts. Remaining performance obligations rose 76% to $688.7M.

  MD&A: Water Solutions verify on EDGAR →