Market underwhelmed by Genesis outlook

Market underwhelmed by Genesis outlook
Genesis is going “above and beyond” to ensure gas supply for industrial consumers, says CEO Malcolm Johns. (Image: Supplied)
Pattrick Smellie
Genesis Energy shares fell sharply at the opening of trading on the NZX after the company announced forward guidance for earnings well short of market expectations.In a client note giving first impressions, Jarden described the forward outlook for operating earnings as a “big disappointment”.Genesis published guidance for earnings before interest, tax, depreciation and amortisation (ebitda) of between $430 million and $460m for the year to June 2026, with the top end below the $470.4m ebitda reported for the latest financial year.At...

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