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E.ON Q1 Adj. Net Income Down; Reaffirms 2022 Outlook

E.ON Group reported that its first quarter adjusted net income was 679 million euros, down 16 percent from 809 million euros in the previous year.

The company's first-quarter adjusted EBITDA of about 2.1 billion euros was about 360 million euros below the prior-year figure. The first-quarter earnings were lower due to higher energy prices.

E.ON confirmed it intends to invest a total of 5.3 billion euros in 2022.

The company reaffirmed its full-year 2022 forecast. It anticipates adjusted EBITDA of 7.6 billion euros to 7.8 billion euros and adjusted net income of 2.3 billion euros to 2.5 billion euros, which corresponds to adjusted earnings per share of 88 to 96 cents.

The company said it is also right on course with its growth strategy and targets through 2026.

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