Genesis signals 15% 1H earnings decline, maintains FY guidance

Thu, 23 Jan 2020

Genesis Energy says first-half operating earnings will be down about 15 percent on the previous year’s record result due to a combination of low hydro storage and high fuel costs.The country’s biggest energy retailer today reported stronger volumes and lower costs at its electricity and gas retailing business in the six months ended Dec. 31, but posted reduced hydro production and higher gas and coal costs for its generation arm than the year before.“The continued momentum from our retail segment is pleasing, however, the ongoing fuel constrain...

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