EU and US could reach trade deal this weekend - Reuters
Investing.com -- Shares of Energias de Portugal (EDP) dropped 1% today, despite the company reporting first-quarter earnings that exceeded consensus estimates.
The company’s recurring EBITDA came in at €477 million, surpassing the compiled consensus of €467 million and marking a 20% increase YoY. Recurring net income also beat expectations at €66 million against the consensus of €58 million, representing a significant 44% YoY rise. However, reported net income was €52 million, and net debt stood at €8.924 billion.
The decline in EDP’s stock price reflects market reactions that may have been influenced by factors beyond the earnings beat. While the company showcased a strong financial performance with underlying improvements, investors could be weighing other elements such as broader market conditions, debt levels, or future growth prospects.
RBC commented on EDP’s financial results, stating that they "show significant underlying improvement."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.