By Adria Calatayud

EDP-Energias de Portugal raised its full-year earnings guidance, saying it made a strong start to 2026 thanks in part to a sound performance of its electricity-networks business and renewables growth in the U.S.

The Portuguese utility said it now expects recurring earnings before interest, taxes, depreciation and amortization for 2026 to be 5.2 billion euros ($6.11 billion), up from a previous forecast of between 4.9 billion and 5 billion euros. Recurring net profit is anticipated at about 1.3 billion euros, at the top end of its prior guidance range of 1.2 billion to 1.3 billion euros.

EDP said its first-quarter results benefited from the start of new regulatory periods in Spanish and Portuguese electricity networks, while earnings in its renewables business were mostly driven by the U.S. However, lower prices weighed on its generation business.

The group reported a net profit for the first quarter of 378 million euros, down 12% from the year-earlier period. On a recurring basis, net profit declined 9% to 399 million euros.

Revenue was 4.05 billion euros compared with 4.08 billion euros a year before, while recurring Ebitda fell 3% to 1.38 billion euros.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

May 07, 2026 03:36 ET (07:36 GMT)

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