E.ON Q3 results meet expectations, guidance maintained

Investing.com -- E.ON's (ETR:EONGn ) third-quarter 2024 financial results met market expectations, with an adjusted EBITDA of €1.8 billion and an adjusted net income that slightly exceeded forecasts by 2%.

The Networks division performed as anticipated, incorporating an estimated €700 million boost from German pension recoveries. 

However, the Energy Retail segment showed softer results, suggesting minimal earnings contributions anticipated for the fourth quarter—a shift that could make the half-year distribution of earnings less dramatic than the previous year.

E.ON has maintained its guidance for the full year, forecasting EBITDA in the range of €8.8 to €9 billion, with 74–76% of this target already covered by the first nine months. 

The company's net income outlook remains on course, with a target of €2.8 to €3 billion, approximately 73%–79% fulfilled, albeit slightly below E.ON’s historical averages. 

Morgan Stanley (NYSE:MS ) points out that while this guidance is achievable, the performance does not imply any substantial revision in market forecasts.

The company’s longer-term 2028 objectives were also reiterated, with E.ON projecting an EBITDA exceeding €11 billion and net income reaching approximately €3.3 billion. 

Additionally, the planned capital expenditure of €42 billion over 2024–2028 remains intact, alongside the annual dividend growth target of 5%.

On the balance sheet, E.ON closed the third quarter with economic net debt of €41 billion, consistent with forecasts. Year-to-date capital spending is up by 20% from last year and represents about 65% of the company's full-year capital allocation.

Source: Investing.com

Последние публикации
European markets trade higher as Trump pick boosts sentiment
25.11.2024 - 10:00
BYD says it will launch new generation of blade batteries next year
25.11.2024 - 10:00
Anglo to sell Australian coal mines to Peabody for up to $3.78 billion
25.11.2024 - 10:00
Indonesia stocks higher at close of trade; IDX Composite Index up 1.53%
25.11.2024 - 10:00
Indian parliament disrupted over Adani bribery allegations, bonds slide to year low
25.11.2024 - 10:00
Blackstone to list Spain's Cirsa shares in Madrid early 2025, Expansion says
25.11.2024 - 10:00
RBC sees S&P 500 rallying 11% through end of 2025
25.11.2024 - 10:00
Bangladesh panel seeks global legal firm for power deals probe, including Adani
25.11.2024 - 09:00
Japan stocks higher at close of trade; Nikkei 225 up 1.08%
25.11.2024 - 09:00
UniCredit launches €10.1 bln takeover bid for Banco BPM
25.11.2024 - 09:00
China EV stocks rise on reports of progress towards EU tariff deal
25.11.2024 - 09:00
Anglo American agrees to sell Aussie coal mines for up to $3.78 billion to Peabody Energy
25.11.2024 - 09:00
South Korea prosecutors seek 5-yr jail term for Samsung Elec chief in appeals case
25.11.2024 - 09:00
Taiwan stocks higher at close of trade; Taiwan Weighted up 1.55%
25.11.2024 - 08:00
Chinese vice commerce minister meets with Nvidia senior executive
25.11.2024 - 08:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?