RWE Says 2023 Earnings to Exceed Outlook
By Pierre Bertrand
RWE said that earnings for 2023 will exceed its outlook.
The German energy company said that it made 4.54 billion euros ($4.93 billion) in adjusted net income in the year, compared with its outlook range of EUR3.3 billion to EUR3.8 billion.
Adjusted earnings before interest, taxes, depreciation and amortization came to EUR8.38 billion, compared with guidance of EUR7.1 billion to EUR7.7 billion.
RWE said the result reflected the better-than-expected performance of its hydro, biomass and gas segment as well as in the supply and trading business in the fourth quarter of the year.
RWE said adjusted earnings before interest and taxes came to EUR6.35 billion. It had forecast EUR5.0 billion to EUR5.6 billion.
Figures are preliminary and full results are set to be released on March 14. RWE's dividend target remains unchanged at EUR1.0 a share.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
January 26, 2024 07:13 ET (12:13 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth