Genesis Energy reported third quarter earnings per unit, excluding a one-time tax benefit, of 29 cents on November 6, matching the Zacks Consensus Estimate but beating the year-ago earnings by 7%.

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On an adjusted basis, earnings of 64 cents per share (excluding a tax settlement and the sale of the advertising unit) were up 8.5% and in line with estimates.

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In the longer term, the government hopes to persuade Congress to tax cigarettes and alcohol on their value, rather than a fixed sum per unit sold.

ECONOMIST: The Philippines