E.ON SE said its normalized net income for the first quarter amounted to 22 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 58 cents per share.

EPS declined 34.0% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €454.3 million, a decrease of 31.8% from €665.9 million in the prior-year period.

The normalized profit margin dropped to 4.3% from 5.9% in the year-earlier period.

Total revenue declined 7.1% year over year to €10.56 billion from €11.36 billion, and total operating expenses came to €10.13 billion, compared with €10.07 billion in the prior-year period.

Reported net income decreased 5.0% year over year to €628.0 million, or 31 cents per share, from €661.0 million, or 34 cents per share.