REN reported on Thursday first quarter earnings that matched analysts' forecasts and revenue that fell short of expectations.
REN announced earnings per share of €0.02 on revenue of €163.94M. Analysts polled by anticipated EPS of €0.02 on revenue of €166.65M. That with comparison to EPS of €0.06 on revenue of €168.82M in the same period a year before. REN had reported EPS of €0.05 on revenue of €230.7M in the previous quarter. Analysts are expecting EPS of €0.06 and revenue of €179.22M in the upcoming quarter.
REN shares are down 11% from the beginning of the year , still down 14.72% from its 52 week high of €2.82 set on February 20. They are outperforming the PSI 20 which is down 19.04% year to date.
REN follows other major Utilities sector earnings this month
REN'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.
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