Genesis Energy: Highest percentage gain in 2 years on guidance raise
28/07/2022 19:30
** Pipeline and storage company's shares GEL.N climb as
much as 18% to $10.09; highest percentage gain in nearly 2 years
** Raises full profit guidance on rising Gulf Of Mexico
transportation volumes, growth in soda ash volumes urn:newsml:reuters.com:*:nBw28Fg4Ba
** Says "we do not foresee a realistic scenario where the
remainder of 2022 and 2023 do not meet or exceed our
expectations, regardless of any potential headwinds associated
with a slowdown of the broader economy"
** Q2 adjusted EBITDA rose 49% to $210.1 mln, highest in 15
qtrs and above analysts estimate of $174.52 mln
** Up to Wednesday's close, stock had fallen ~5% this year
(Reporting by Arathy S Nair)
((RM: arathys.nair.thomsonreuters.com@reuters.net))