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E.ON SE swings to profit in Q3

E.ON SE said its normalized net income for the third quarter was 13 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share result swung to a profit from the prior-year loss of 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €248.1 million, compared with a loss of €392.3 million in the year-earlier period.

The normalized profit margin declined to negative 24.2% from negative 1.5% in the year-earlier period.

Total revenue grew year over year to €27.12 billion from €25.86 billion, and total operating expenses increased on an annual basis to €26.20 billion from €25.65 billion.

Reported net income totaled a loss of €7.26 billion, or a loss of €3.72 per share, compared with a loss of €869.0 million, or a loss of 45 cents per share, in the prior-year period.