Genesis Energy (GNE) Q1 2026 TU earnings summary

Executive summary

• Achieved strong Q1 FY26 performance, leveraging above-average hydrological conditions and improved retail pricing discipline to optimize portfolio and support FY26 guidance.

• Hydro generation rose significantly, while thermal generation dropped due to reduced reliance on coal and gas.

• Digital investment and customer-focused initiatives, including CRM and billing re-platform, are progressing on schedule.

Financial highlights

• Total electricity sales reached 1,874 GWh, up 188 GWh year-over-year; total customers increased 0.9% to 502,765.

• Electricity netback improved 14.7% year-over-year to $181/MWh.

• Hydro generation was 904 GWh (+218 GWh), while thermal generation fell to 784 GWh (–498 GWh) compared to Q1 FY25.

• Kupe gas sales were 1.6 PJ (–0.2 PJ), LPG sales 7.6 kt (–0.4 kt), and oil production 32 kbbl (–17.7%).

Outlook and guidance

• Positioned to achieve FY26 guidance, supported by strong water security and ongoing digital transformation.

• Investor Day in November 2025 will provide further details on long-term strategy and capital allocation.