Engie posts first quarter earnings in line with expectations

Engie reported first-quarter EBIT excluding nuclear of €3.4 billion, matching analyst expectations and down 8.4% year-on-year as warmer weather reduced French gas sales and deliveries. The results, released May 7, were in line with the LSEG consensus and therefore are unlikely to trigger a large market reaction, suggesting limited near-term impact on French equities and the France 40 index. The miss versus prior-year performance reflects weather-driven demand weakness rather than an operational surprise.