Manawa Energy cuts $20m from earnings guidance

Tue, 18 Oct 2022

Manawa Energy trimmed its 2023 earnings guidance by as much as $20 million, citing a difficult first half and increased development spending. The company previously said underlying earnings would be between $140m and $160m. Today, Manawa said it expected earnings to be between $127.5m and $140m in the March 2023 year.The revised guidance was due to a “challenging first half” with volatile prices and hydro inflows, increased operational spending for development work, and repairs due to weather damage.Manawa said the new guidance...

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