Iberdrola Earnings Climb 23% on Growth in Power and Retail [Financial Post (Toronto, Ontario, Canada)]
IBERDROLA SA S/ADR (IBDRY)
NASDAQ:AMEX Investor Relations:
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Iberdrola SA reported a 23% jump in profit, reflecting a robust performance in power generation and retail, and raised full-year guidance. The Spanish utility has benefited from higher electricity production — with hydro output particularly strong — as well as a drop in procurement costs for natural gas. Power prices also picked up during the past six months, while an expansion of Iberdrola's regulated grid business promises steady returns. Earnings before interest, taxes, depreciation and amortization rose to €13.27 billion ($14.3 billion) in the first nine months of 2024, the company said Wednesday in a statement. Iberdrola raised the interim dividend by 14%, and said it expects similar growth in full-year net income. Ebitda at the utility's Spanish generation and retail division rose 17% year on year. That was enough to offset lower results f
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