Z Energy cuts annual earnings guidance on rising crude oil prices, supply disruptions

Mon, 22 Jan 2018

By Sophie Boot Jan. 23 (BusinessDesk) - Z Energy cut its annual guidance by about $20 million following a weaker-than-expected performance in the December quarter, due to a shutdown of the New Zealand Refining fuel pipeline to Auckland and the rising price of crude oil. The company said replacement cost operating earnings before interest, tax, depreciation, amortisation and fair value adjustments (ebitdaf) will be between $430 million and $455 million in the year to March 31, down from a previous range of $445 million-to-$475 million. ...

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