Genesis Energy Limited (GNE) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. Welcome to Genesis Energy Half Year Results 2026 Analyst Briefing. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Malcolm Johns, Chief Executive Officer. Please go ahead. Good morning and thank you for joining us. Before we get into the detail, let me briefly outline how we will run today's session. I'll start by covering a quick snapshot of the half-year FY26 and our core investor value proposition before stepping through progress on our Gen35 strategy delivery. Julie will then take you through the group financial performance, FY26 guidance and our outlook to FY32. We will then move to the equity raise we announced to the market today before we open for questions. Let me start by recapping the highlights of our record first half earnings performance. Our FY26 half year normalized EBITDAF was a record 307 million. Over the past 18 months, we have stepped up leveraging our market leading flexibility to drive earnings outcomes. Across FY25, we leveraged our flexibility to defend earnings during periods of low hydro and low wind. For the first half of FY26, we again leveraged our flexibility, but this time to optimize earnings during periods of high hydro and high wind. This is Genesis's competitive advantage and core investor proposition, earnings resilience, no matter the weather. Group operating cash flow for the half was $183 million up 298% on the prior period. Net debt remains well managed and within our target range to support our BBB Plus investment grade credit rating. Over the last calendar year, ...