Engie reports 11% fall in nine-month earnings
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Engie, a French utility company, reported an 11% decline in nine-month earnings due to lower income from its gas trading business, despite increased hydropower and renewable energy output.
November 07, 2024 | 7:00 am
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Engie's nine-month earnings fell by 11%, primarily due to decreased income from its gas trading business, despite increased output in hydropower and renewable energy.
The 11% decline in earnings is significant and primarily attributed to lower income from gas trading, which is a key part of Engie's business. This negative earnings report is likely to impact the stock price negatively in the short term.
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