New Zealand's Genesis Energy jumps to 2‑month high on FY26 earnings forecast hike

Genesis Energy

23/04/2026 01:30

** Genesis Energy GNE.NZ shares climb up to 1.31% to NZ$2.320, marking their highest level since February 27

** Energy retailer's stock fifth‑biggest gainer on the benchmark NZ50 .NZ50, which is up 0.2%

** Co lifts FY26 normalised operating earnings forecast to NZ$515 million-NZ$545 million ($303.64 million-$321.33 million), from NZ$490 million-NZ$520 million

** Says upgrade reflects better hydrology and more supportive wholesale conditions, among other reasons

** Co also reports Q3 electricity sales of 1,380  gigawatt hour (GWh), down 94 GWh YOY, hurt by fewer customers and other reasons

** YTD, GNE down 1.9%, outperforming the NZ50's 4.3% decline

($1 = 1.6961 New Zealand dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

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