Portugal's EDP upgrades recurring profit outlook again after strong earnings

EDP

06/11/2026 08:35

LISBON, Nov 6 (Reuters) - Portugal's largest utility EDP EDP.LS raised its full-year recurring net profit guidance for the third time this year on Friday, to between €1.4 billion and €1.5 billion ($1.6 billion to $1.7 billion) after nine-month recurring net income rose 22%.
EDP had forecast annual recurring net profit of €1.4 billion in July.
It said expectations that 2026 recurring earnings before interest, taxes, depreciation and amortization would reach €5.4 billion, above its previous €5.3 billion forecast, underpinned the higher recurring net profit guidance.
The company said in a statement that its third guidance upgrade this year was driven by "outperforming execution of its business plan across all segments".
EDP said on Thursday recurring net profit rose 22% from a year earlier to €1.19 billion in the first nine months, helped by strong earnings from its renewables arm and higher regulatory returns at its Iberian networks business.
Subsidiary EDP Renewables EDPR.LS, the world's fourth-largest wind power producer, posted nine-month recurring net profit of €439 million, more than double a year earlier, on strong US growth and higher capital gains.
     
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(Reporting by Sergio Goncalves; Editing by Emelia Sithole-Matarise)
((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters Messaging: sergio.goncalves.reuters.com@reuters.net/))