Morningstar lifts Genesis Energy fair value, raises FY26 profit outlook after forecast hike

Genesis Energy

23/04/2026 20:30

** Morningstar lifts Genesis Energy’s GNE.NZ fair value and FY26 outlook after the New Zealand energy retailer upgraded its earnings outlook

** Investment research firm nudges fair value up 2% to NZ$2.55, citing stronger near-term earnings, with the stock's last close at a discount to the improved fair value

** Also lifts FY26 EBITDA forecasts by 6% to NZ$535 million ($313.78 million), implying 14% annual growth, while keeping long-term assumptions largely intact, anchored to average rainfall

** Morningstar estimates 9-month gross profits to March surged YoY with Kupe JV’s outlook lifted by war-driven energy prices, keeping earnings comfortably ahead despite sharply lower oil-led volumes

** Stock down 1.5% YTD

($1 = 1.7050 New Zealand dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))