National Grid shares are trading lower after the company reported a year-over-year decrease in FY24 revenue results. The company plans to invest an estimated $75 billion in the US and UK over the next five years.
Portfolio Pulse from Benzinga Newsdesk
National Grid shares are trading lower following a year-over-year decrease in FY24 revenue results. The company plans to invest $75 billion in the US and UK over the next five years.
May 23, 2024 | 3:13 pm
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National Grid (NGG) shares are trading lower due to a year-over-year decrease in FY24 revenue results. Despite this, the company plans to invest $75 billion in the US and UK over the next five years.
The decrease in FY24 revenue results is a negative indicator for investors, leading to a drop in share price. However, the planned $75 billion investment could be seen as a long-term positive, but it does not offset the immediate negative impact of the revenue decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100