0811 GMT - SSE PLC's third quarter was positive, lifting fiscal 2023 guidance for adjusted earnings per share to more than 150 pence from prior guidance of at least 120 pence--well above market consensus of 130 pence, RBC Capital Markets says. The energy company's flexible generation and gas storage optimization earnings more than offset lower renewables output and hedge buyback costs, RBC analysts say in a research note. "We were expecting a higher EPS number for the full year than previous guidance given SSE's favorable exposure to the current market environment through its generation and storage businesses, however the new guidance is still materially above [our estimates]," the Canadian bank says. RBC retains its outperform rating and 2,050 pence price target. Shares are up 1.2% at 1,723 pence. (joseph.hoppe@wsj.com)

(END) Dow Jones Newswires

January 20, 2023 03:11 ET (08:11 GMT)

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