By Mauro Orru

Iberdrola lifted its profit guidance for the year after posting higher earnings for the first nine months.

The Spanish energy company on Thursday reported net profit of 3.64 billion euros ($3.85 billion), up from EUR3.10 billion in the first nine months of last year.

Earnings before interest, taxes, depreciation and amortization climbed 13% to EUR10.78 billion.

Iberdrola said its board of directors approved an interim dividend of EUR0.20 a share, up 11% on year.

Revenue slipped 1.9% on year to EUR37.19 billion.

For the year, Iberdrola expects double-digit net profit growth, up from a previous forecast of high single-digit growth.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

October 26, 2023 02:55 ET (06:55 GMT)

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