Investing.com - Red Electrica reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Red Electrica announced earnings per share of €0.32 on revenue of €500.5M. Analysts polled by Investing.com anticipated EPS of €0.35 on revenue of €503.95M. That with comparison to EPS of €0.36 on revenue of €499.74M in the same period a year before.Red Electrica had reported EPS of €0.35 on revenue of €530.04M in the previous quarter.Analysts are expecting EPS of €0.32 and revenue of €490.99M in the upcoming quarter.
Red Electrica shares are down 12% from the beginning of the year and are trading at €15.665 , down-from-52-week-high.They are outperforming the STOXX 600 which is down 16.66% year to date.
Red Electrica follows other major Utilities sector earnings this month
Red Electrica's report follows an earnings matched by Enagas on Tuesday, April 21, 2020, who reported EPS of €0.43 on revenue of €283.3M (NYSE:MMM), compared to forecasts EPS of €0.43 on revenue of €284.28M.
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