2338 GMT - Beach Energy is facing earnings pressure in Australia's east and west. Macquarie says milder weather and full storage in Australia's eastern states are combining with other headwinds to drive natural-gas prices lower. It now assumes a spot price of A$9.00 per gigajoule along the east coast in 4Q. Macquarie also highlights ongoing struggles at Beach's Waitsia gas plant in Western Australia. Waitsia has yet to achieve a consistent, steady ramp up after producing gas for the first time in December. Macquarie says the plant is running at 132 terajoules per day so far this quarter. "This could start to impact FY27 guidance setting," says Macquarie, which rates Beach at underperform. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 18, 2026 19:38 ET (23:38 GMT)
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