Endesa SA said its first-quarter normalized net income was 19 euro cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.

EPS fell 34.1% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €201.4 million, a decline of 34.1% from €305.6 million in the prior-year period.

The normalized profit margin fell to 3.9% from 6.6% in the year-earlier period.

Total revenue rose 10.4% on an annual basis to €5.12 billion from €4.64 billion, and total operating expenses climbed 14.9% year over year to €4.77 billion from €4.15 billion.

Reported net income decreased 26.0% on an annual basis to €253.0 million, or 24 cents per share, from €342.0 million, or 32 cents per share.