RWE Jumps Most in 4 Months as Quarterly Profit Beats Estimates
- First-quarter net income is 29% above analyst forecasts
- Utility says proposed nuclear risk premium ‘irresponsible’
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RWE AG rose the most in almost four months in Frankfurt trading, boosted by first-quarter profit that beat analyst estimates as “unusually high earnings” from trading countered slumping power prices.
Adjusted net income for Germany’s largest power producer slipped 2.3 percent to 857 million euros ($979 million), the Essen-based company said Thursday in a statement. The figure beat the 664 million-euro median estimate of 7 analysts surveyed by Bloomberg. The utility reiterated its forecast of 500 million euros to 700 million euros for the year.