EDP reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
EDP announced earnings per share of €0.06 on revenue of €3.5B. Analysts polled by anticipated EPS of €0.05 on revenue of €4.68B. That with comparison to EPS of €0.05 on revenue of €3.74B in the same period a year before. EDP had reported EPS of €0.06 on revenue of €6.61B in the previous quarter. Analysts are expecting EPS of €0.07 and revenue of €4.89B in the upcoming quarter.
EDP shares are up 6% from the beginning of the year , still down 17.23% from its 52 week high of €4.99 set on February 19. They are outperforming the PSI 20 which is down 18.9% year to date.
EDP follows other major Utilities sector earnings this month
EDP's report follows an earnings beat by EDP Renovaveis on Thursday, who reported EPS of €0.07 on revenue of €487M, compared to forecasts EPS of €0.06 on revenue of €428M.
REN had matched expectations on Thursday with first quarter EPS of €0.02 on revenue of €163.94M, compared to forecast for EPS of €0.02 on revenue of €166.65M.
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