Oil Price Relief for No-Moat Z Energy with Earnings Guidance Increased. FVE Upgraded to NZD 8.30.
Z Energy has upwardly revised fiscal 2019 earnings guidance by around 5% to NZD 420-450 million in replacement cost, or RC, EBITDA, accounting for a decline in the crude price and reversal of the price lag. In a falling crude market, Z Energy enjoys better retail and commercial trading conditions as fuel becomes cheaper for customers, and reduced their price-sensitivity shifts consumption towards full-service offerings. Prior to crude’s retreat, Z Energy had been experiencing the most challengin...Z Energy is engaged in the marketing of petroleum based products.
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