FIRST CUT: Genesis beats earnings forecast on strong generation demand

Jonathan Underhill
Tue, 28 Aug 2018

By Gavin Evans Aug. 29 (BusinessDesk) - Genesis Energy reported an 8 percent increase in full-year operating earnings after dry, still weather boosted demand for coal- and gas-fired generation from its Huntly site. Earnings before interest, tax, depreciation, amortisation and changes in financial instruments climbed to $360.5 million in the year ended June 30, from $332.5 million a year before. Net profit fell to $19.8 million, down 83 percent from $118.7 million the year before. The change reflects higher depreciation, and a generatio...

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