Genesis beats earnings forecast; signals higher 2019 capex

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. Despite an unplanned maintenance shut at one of the firm’s Tekapo plants, generation volumes increased 11 percent. The firm also benefitted fro...

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