GNE - Genesis Energy

[Grimy]

DRP strike price announced - $3.26 . Closing price today $3.06. Doesn't always work in the holders favour.

[Sideshow Bob]

Letter in the mail yesterday announcing our bottled gas was going up in price - around 7%.

They blamed imported gas, not mentioning Kupe. There was a subtle dig about reducing NZ production/supplies, without mentioning govt policies.

[MauroNZ]

It seems not very encouraging, any thoughts?

* EBITDAF $167 million, down $30 million on HY19 of $197.5 million
* Net Profit $9 million, down $40 million on HY19 of $49 million
* Underlying Earnings $16 million, down $26 million on HY19 of $42 million
* Earnings Per Share 0.90 cents, down 4.01 cps from 4.91 cps
* Underlying Earnings Per Share 1.53 cents, down 2.61 cps from 4.14 cps
* Final Dividend Per Share 8.525 cents, up 0.9% from HY19 of 8.45 cents
* Free Cash Flow $94 million, down 17% on HY19 of $113 million

[bull....]

It seems not very encouraging, any thoughts?

* EBITDAF $167 million, down $30 million on HY19 of $197.5 million
* Net Profit $9 million, down $40 million on HY19 of $49 million
* Underlying Earnings $16 million, down $26 million on HY19 of $42 million
* Earnings Per Share 0.90 cents, down 4.01 cps from 4.91 cps
* Underlying Earnings Per Share 1.53 cents, down 2.61 cps from 4.14 cps
* Final Dividend Per Share 8.525 cents, up 0.9% from HY19 of 8.45 cents
* Free Cash Flow $94 million, down 17% on HY19 of $113 million

it was fine , most gentailers lost money due to hydro levels etc in the last year. they have only lowered guidance by 10m for 2020 yr and raised div so nothing to worry about. enjoy the divs

[trader_jackson]

it was fine , most gentailers lost money due to hydro levels etc in the last year. they have only lowered guidance by 10m for 2020 yr and raised div so nothing to worry about. enjoy the divs

Yup, enjoy the dividends, because it doesn't look like they will be going up much from now on...

I'm trying to figure out how this is worth $3.3b... before it was all due to the FCF, now even this is showing signs of flattening off so not sure how they will keep increasing dividends (ideally, above the rate of inflation)

[bull....]

Yup, enjoy the dividends, because it doesn't look like they will be going up much from now on...

I'm trying to figure out how this is worth $3.3b... before it was all due to the FCF, now even this is showing signs of flattening off so not sure how they will keep increasing dividends (ideally, above the rate of inflation)

dont think your find any of the gentailers increasing divs by much going forward.

[King1212]

Best yield stock at the current market ... reliable n not exposed to coronavirus impact...

[Davexl]

Best yield stock at the current market ... reliable n not exposed to coronavirus impact...

Fully agree with that observation, one of the very few shares I have left alone - with the rest in cash.

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...738/317140.pdf

Not a great result it has to be said and the record (driest ever since records began), conditions continue in the upper north island.
Rio Tinto not done with their smelter review either.
On the other hand on the look through to more normal conditions nothing wrong with a 6.9% gross yield for a pretty safe utility. Disc: Very small holding.

[macduffy]

The market's certainly not fazed by the result. SP up 4.5c today, going against the trend of other gentailers.