Z Energy cuts earnings guidance by $30M due to extended refinery outage, high crude prices

Tue, 17 Jul 2018

By Gavin Evans July 18 (BusinessDesk) - Z Energy, the country’s biggest fuel retailer, has cut full-year earnings guidance by $30 million due to an extended shutdown at the Marsden Point oil refinery and high crude prices in the June quarter. The company is now forecasting operating earnings of $420 million to $455 million for the year through March 2019, down from previous guidance of $450 million to $485 million in earnings before interest, tax, depreciation and changes in financial instruments. The Wellington-based company attribute...

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