RWE 9-month core earnings top expectations, backs full-year outlook
Stronger wind conditions lift RWE's adjusted core earnings in the first nine months above market expectations, supporting the German power producer's confidence in its annual targets. The company says earnings should come in toward the upper end of its forecast range and maintains its dividend target at 1.32 euros per share.
Highlights
- RWE reports adjusted core earnings of 4.58 billion euros for the first nine months, beating analyst expectations of 4.43 billion euros.
- RWE confirms full-year adjusted EBITDA guidance of 5.75 billion to 6.35 billion euros and expects results at the upper end of that range.
- RWE maintains its dividend target of 1.32 euros per share, citing improved operating conditions and stronger renewable generation from favorable wind patterns.
Nine-month earnings and guidance outlook
As reported by Reuters, RWE posts adjusted core earnings of 4.58 billion euros for the first nine months of the year, above analyst expectations of 4.43 billion euros in a company-provided poll.The company confirms its full-year guidance and expects adjusted earnings before interest, taxes, depreciation and amortization of 5.75 billion euros to 6.35 billion euros. It also says earnings are expected toward the upper end of that range.
Implications for investors and the power sector
RWE also maintains its dividend target of 1.32 euros per share, reinforcing its shareholder payout plans as operating conditions improve.The update points to the benefit of more favourable wind conditions for renewable generation, a key earnings driver for large European utilities with significant exposure to wind power.
Earlier, we looked at DAX buying momentum as the index held above key moving averages in bullish trade.
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