GDF Suez Confirms Earnings Target
PARIS (AP) ¿ French utility GDF Suez SA said Thursday it is on track to achieve targeted improvements in 2009 earnings despite a dip in sales over the first nine months of the year.
The gas and electricity provider said revenue slipped 1.2 percent to euro57.9 billion ($87 billion) in the nine months through Sept. 30, down from euro58.6 billion a year earlier.
GDF Suez's revenues were boosted last year when commodities such as gas and oil reached record-high prices around the middle of the year.
In a statement, Chairman and Chief Executive Gerard Mestrallet said that despite the lower level of activity over the first nine months, GDF Suez confirms its objectives for the year.GDF Suez targets higher earnings before interest, tax, depreciation and amortization this year than the euro13.9 billion it reported last year. GDF Suez shares were down 0.6 percent at euro29.46.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV