EDP Lifts Earnings Guidance After Quarterly Profit Nearly Doubles

EDP raised its full-year profit outlook after reporting third-quarter net profit of 462 million euros, up from 243 million euros a year earlier. The Portuguese utility said it was outperforming on delivery of its business plan across all segments.

Today, 11:37· Money Talk· 121 reads

EDP Lifts Earnings Guidance After Quarterly Profit Nearly Doubles

The company now expects recurring net profit of 1.4 billion to 1.5 billion euros for the full year, compared with its previous guidance of about 1.4 billion euros. It also lifted its forecast for recurring earnings before interest, taxes, depreciation and amortization to about 5.4 billion euros from 5.3 billion euros.

EDP said gains from renewable-energy asset sales in the U.S., Poland and Italy were concentrated in the third quarter. Quarterly recurring Ebitda rose 26% to 1.44 billion euros, while revenue increased 4% to 4.38 billion euros.

EDP Lifts Earnings Guidance After Quarterly Profit Nearly Doubles

Comments (0)