By Christian Moess LaursenEngie backed its guidance after its renewables and flexible generation segments helped buoy first-quarter earnings. The dip was driven by sharp declines from its networks and global energy management and sales businesses, although these were largely offset by rising earnings from renewables, flexible generations and energy solutions, the company said. Similarly, EBIT excluding earnings from nuclear power fell 3.7% to EUR3.7 billion. Paris-based Engie--one of the biggest energy companies in Europe--reaffirmed its expectations for they year, still targeting EBIT excluding nuclear between EUR7.5 billion and EUR8.5, along net recurring income of between EUR4.2 billion and EUR4.8 billion. Write to Christian Moess Laursen at christian.moess@wsj.com(END) Dow Jones NewswiresMay 17, 2024 02:22 ET (06:22 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal May 17, 2024 12:26 UTC