Iberdrola Raises Guidance After Networks Unit Aids Earnings

By Adria Calatayud

Iberdrola raised its full-year guidance after it reported higher adjusted earnings for the first quarter driven by the performance of its networks business.

The Spanish utility said Wednesday that it now expects adjusted net profit to grow more than 8% this year, excluding capital gains from asset sales, up from its previous guidance of an increase of about 6%. For 2025, the company reported an adjusted net profit of 6.23 billion euros ($7.30 billion).

Iberdrola said a solid first-quarter result and expectations of a strong performance for the rest of the year drove the guidance uplift. The company said it has a minimal exposure to commodities as it passes through costs to customers and that it doesn't expect a significant short-term impact from volatility in fossil-fuel markets.

For the first quarter, Iberdrola made an adjusted net profit of 1.865 billion euros, up 11% on year. It said the performance of its networks business was a key driver of adjusted earnings.

On a reported basis, the company's net profit declined 15% to 1.71 billion euros. Revenue fell 4.5% to 12.02 billion euros.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

April 29, 2026 03:02 ET (07:02 GMT)