NZ's Genesis Energy jumps on FY23 EBITDAF guidance hike

Genesis Energy

14/10/2022 24:57

** Shares of New Zealand's Genesis Energy Ltd  GNE.NZ  rise
as much as 5.3% to NZ$2.760, set for their best day since June
17 if gains hold 
    ** Co raises FY23 EBITDAF guidance to NZ$500 mln ($282.05
million) from NZ$455 mln, FY22 EBITDAF NZ$440.3 mln  urn:newsml:reuters.com:*:nNZW8hThbD
    ** Co says EBITDAF performance in Q1 higher than expected
due to favourable trading conditions like higher hydro inflows
and thermal generation flexibility 
    ** Stock hits highest level since Oct. 7
    ** GNE down 8.4% YTD, as of last close 
($1 = 1.7727 New Zealand dollars)
 (Reporting by Nausheen Thusoo)
 ((Nausheen.Thusoo@thomsonreuters.com;))