Genesis trims guidance on low inflows, South Island prices

Fri, 21 Feb 2020

Genesis Energy has trimmed its full-year guidance, citing low North Island inflows since January and on-going weak South Island wholesale prices.The company today reported a 16 percent decline in first-half operating earnings – as signalled due to low hydro production and increased gas and coal costs – but trimmed the top end of its full-year guidance by $10 million.It is now forecasting June-year earnings before interest, tax, depreciation, amortisation and changes in financial instruments of $360 million to $370 million. A month ago that rang...

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