E.On: stock down despite cofirming 2022 earnings estimates
(CercleFinance.com) - E.
ON's business performance was in line with expectations in Q1. The group's adjusted EBITDA of about 2.1 billion euros was about 360 million euros below last year's figure.
Adjusted EBITDA in the Customer Solutions segment fell by 330 million euros from the previous year to 414 million euros.
The Energy Infrastructure Solutions unit achieved a 14% y-o-y increase in EBITDA to about 200 million euros.
Adjusted net profit reached 679 million euros, 16% below the previous year's figure of 809 million euros.
The group's CFO confirmed E.ON's earnings guidance for FY 2022, expecting adjusted EBITDA of 7.6 to 7.8 billion euros, with adjusted net income of 2.3 to 2.5 billion euros (i.e. EPS of 88 cents to 96 cents). E.ON is also on track with its growth strategy and targets through to 2026.
Something seems to be wrong somewhere though - the share is down over 4% an hour into trading this morning.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
ON's business performance was in line with expectations in Q1. The group's adjusted EBITDA of about 2.1 billion euros was about 360 million euros below last year's figure.
Adjusted EBITDA in the Customer Solutions segment fell by 330 million euros from the previous year to 414 million euros.
The Energy Infrastructure Solutions unit achieved a 14% y-o-y increase in EBITDA to about 200 million euros.
Adjusted net profit reached 679 million euros, 16% below the previous year's figure of 809 million euros.
The group's CFO confirmed E.ON's earnings guidance for FY 2022, expecting adjusted EBITDA of 7.6 to 7.8 billion euros, with adjusted net income of 2.3 to 2.5 billion euros (i.e. EPS of 88 cents to 96 cents). E.ON is also on track with its growth strategy and targets through to 2026.
Something seems to be wrong somewhere though - the share is down over 4% an hour into trading this morning.
Copyright (c) 2022 CercleFinance.com. All rights reserved.