Genesis raises forecast; lifts 1H earnings 30%

Genesis Energy has raised its full-year earnings guidance citing low national hydro storage and expected demand for generation from its gas and coal-fired plants at Huntly.The company, which earlier this month said it would make its third dual-fuel Rankine unit at Huntly available this winter due to the dry conditions, now expects to report earnings before interest, tax, depreciation, amortisation and changes in financial instruments of $415 million to $425m for the year ended June 30. Its previous forecast range was $395m-to-$415m.“Genes...