Trending: Iberdrola's Net Profit Boosted by Mexico Asset Sale
1037 GMT - Iberdrola is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the Spanish energy company raised its net profit outlook for the year after its Mexico asset sale supported its first-quarter earnings. The sale boosted first-quarter earnings by 1.72 billion euros ($1.84 billion) and helped net profit jump 85% to EUR2.76 billion. Iberdrola also raised its net profit outlook to high-single-digit growth. The company previously expected 5% to 7% growth and the new guidance implies a beat on consensus of more than 3%, according to RBC Capital Markets. Citi analyst Jenny Ping in a research note said that the effect of the Mexico asset sale would dissipate and "likely be partially offset by the rest of the business during subsequent quarters." Dow Jones & Co. owns Factiva. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
April 24, 2024 06:52 ET (10:52 GMT)
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