Naturgy Energy Group SA

NTGY: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Naturgy Earnings: Strong Results, but Guidance Unchanged

Tancrede Fulop , Andrea Burigana

Apr 29, 2026

Naturgy reported a strong set of first-quarter results. EBITDA was up 6.5% year over year to EUR 1.36 billion, supported by positive contributions across all divisions, and net income of EUR 530 million was up 5% year over year, exceeding FactSet consensus. Full-year guidance was reaffirmed.

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Naturgy Energy Group SA

Naturgy Earnings: Strong Results, but Guidance Unchanged

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