FTSE 250 movers: Diversified Energy surges on guidance upgrade

(Sharecast News) - FTSE 250 (MCX) 22,028.73 -0.36%

Diversified Energy surged as the gas producer boosted full-year guidance following a strong third quarter.

Shares in Diversified Energy moved sharply higher on Tuesday, after the gas producer boosted full-year guidance following a strong third quarter.

Average net daily production at the FTSE 250 firm, which is also listed in New York, jumped 36% in the three months September end, to 1,127m cubic feet of gas equivalent per day.

Revenues surged 105% to $500m, while adjusted earnings before interest, tax, depreciation and amortisation rocketed 149% at $286m.

Rusty Hutson, chief executive, said: "Our growing portfolio of high-quality assets continued to deliver exceptional results this quarter, demonstrating Diversified's ability to generate substantial value in volatile markets.

"Given our momentum on synergy capture, numerous portfolio optimisation opportunities and strong third-quarter performance, we are raising our financial guidance ranges for the fiscal year."

Diversified is now forecasting full-year adjusted EBITDA of between $900m and $925m, up from previous guidance of between $825m and $875m. Its adjusted free cash flow target was increased to $440m from $420m.

As at 0830 GMT, Diversified's London-listed shares had jumped 10% at 1,056.17p. In New York, they had put on 2% in pre-market trading.

Diversified is currently in the process of switching its primary listing to New York.

Hutson said: "We continue to believe that our proposed re-domestication to the US and the change in our primary listing, which includes full SEC reporting for domestic issuers, beginning with the year-end 2025 results, will offer several benefits that are in the best interest of all shareholders."

Diversified's assets, employees and operational headquarters are all based in America.

Diversified published its third-quarter numbers on Monday evening, after London had closed.

Miners were among the worst performers as copper and iron ore prices fell, with Endeavour and Hochschild both down.

Budget carrier Wizz Air said on Tuesday that passenger numbers had grown by double-digit percentages in October as it continued to refocus its network towards its core Central and Eastern Europe markets.

Wizz Air it carried 6.36m passengers in October, up 13.1% year-on-year, with seat capacity rising 13% to 6.85m, while load factor held steady at 92.9%, unchanged from the same month a year earlier.

On a rolling 12-month basis, passenger numbers were up 7.8% at 67.38m, while load factor increased by 1.1 percentage points to 91.2% and capacity increased by 6.5% to 73.88m.

Wizz Air also noted. that it had officially opened its new base at Zvartnots Airport in Armenia on 1 October, with a plan to carry over 1.2m passengers to and from the airport this year, and announced that it will open its 36th base in Podgorica, Montenegro, with two A321neos set to operate from the airport.

FTSE 250 - Risers

Diversified Energy Company (DEC) 1,046.00p 8.62% Ceres Power Holdings (CWR) 322.00p 8.05% Pantheon Infrastructure (PINT) 107.50p 3.37% Vietnam Enterprise Investments (DI) (VEIL) 756.00p 2.44% B&M European Value Retail S.A. (DI) (BME) 175.45p 2.30% Derwent London (DLN) 1,775.00p 2.25% Tritax Big Box Reit (BBOX) 152.60p 2.14% Oxford Biomedica (OXB) 668.00p 2.14% VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 460.50p 1.99% British Land Company (BLND) 384.60p 1.96%

FTSE 250 - Fallers

Carnival (CCL) 1,851.00p -5.85% Hochschild Mining (HOC) 311.20p -4.95% Anglo-Eastern Plantations (AEP) 1,270.00p -4.51% AO World (AO.) 101.40p -4.34% Ninety One (N91) 222.40p -3.97% Raspberry PI Holdings (RPI) 354.30p -3.62% SSP Group (SSPG) 146.30p -3.56% Endeavour Mining (EDV) 2,936.00p -3.42% Aston Martin Lagonda Global Holdings (AML) 60.10p -3.06% Wizz Air Holdings (WIZZ) 1,025.00p -2.94%