Investing.com - Red Electrica reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Red Electrica announced earnings per share of €0.3217 on revenue of €483.6M. Analysts polled by Investing.com anticipated EPS of €0.31 on revenue of €486.56M.
Red Electrica shares are down 9% from the beginning of the year, still down 13.63% from its 52 week high of €17.64 set on June 19, 2020. They are under-performing the IBEX 35 which is up 8.85% from the start of the year.
Red Electrica shares gained 1.21% in intra-day trade following the report.
Red Electrica follows other major Utilities sector earnings this month
Red Electrica's report follows an earnings beat by Enagas on April 19, who reported EPS of €0.35 on revenue of €240.6M, compared to forecasts EPS of €0.3475 on revenue of €242.32M.
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