Iberdrola quarterly profit drops 15% y/y, in line with estimates

Iberdrola reported first-quarter net profit of 1.71 billion euros, essentially in line with the 1.72 billion euro LSEG analyst consensus. Electricity output rose 1.6%, indicating modest operational growth. The release is broadly neutral and looks like routine earnings news with limited immediate market impact.

Analysis

Iberdrola reported first-quarter net profit of 1.71 billion euros, essentially in line with the 1.72 billion euro LSEG analyst consensus. Electricity output rose 1.6%, indicating modest operational growth. The release is broadly neutral and looks like routine earnings news with limited immediate market impact.