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Investing.com -- A2a (BIT:A2A) shares dropped 2% after the company confirmed its fiscal year 2025 guidance at the upper end of its previously issued ranges, despite posting a bottom-line beat in the second quarter.
The Italian utility company now expects to achieve Ordinary EBITDA of €2.17-2.20 billion for the fiscal year, which falls slightly below the Bloomberg consensus estimate of €2.21 billion. A2a also guided for Ordinary net income in the range of €680-700 million, compared to Bloomberg consensus of €691 million.
While the company’s second quarter results implied a 10% bottom-line beat compared to analyst expectations, its Ordinary EBITDA came in approximately 2% below consensus estimates. Initial analysis suggests that depreciation and amortization (D&A) and financing components were the key factors affecting the quarterly performance.
The market reaction appears to reflect investor concerns about the company’s ability to exceed current consensus estimates for the full year, despite the positive second quarter bottom-line results.
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