0026 GMT - Viva Energy's latest operational update was another disappointment to Jefferies. Viva signaled around A$750 million in annual Ebitda, some 9% below Jefferies' A$824 million forecast. Viva's earnings were hit by a refining outage, lower fuel margins in its Convenience and Mobility business, and illicit tobacco sales. "Pleasingly, Commercial & Industrial continues to deliver dependable growth, and this setback, while disappointing, doesn't change our positive thesis," analyst Michael Simotas says. "Viva has a best-in-class network, with opportunity to deliver material upside when converted to OTR." Viva bought gas station and convenience store owner OTR last year. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 28, 2025 19:26 ET (00:26 GMT)
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