Dow Jones Newswires: Iberdrola backs profit guidance after 9 month earnings rise

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By Giulia Petroni


Iberdrola SA on Wednesday said that earnings for the first nine months of the year rose and backed its 2022 profit guidance.

The Spanish energy company said net profit rose to 3.10 billion euros ($3.07 billion) in the period from EUR2.41 billion in the previous year, driven by a strong performance in the U.S. and Brazil as well as a 14% increase in investments.

Earnings before interest, taxes, depreciation and amortization increased to EUR9.53 billion from EUR8.16 billion, with positive trends across geographies excluding Spain.

Revenue was rose 35% on year to EUR37.90 billion.

Iberdrola reaffirmed its full-year net profit outlook of between EUR4 billion and EUR4.2 billion. It also said it approved an interim shareholder remuneration of 18 European cents a share that will be payable in January.


Write to Giulia Petroni at giulia.petroni@wsj.com


This article was originally published by Marketwatch.com. Read the original article here.

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