AGL shares climb on upgraded earnings guidance
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More news: Shares in AGL Energy lifted at market open on the ASX after the energy retailer increased its full-year underlying EBITDA and NPAT guidance.
Shares were up 5.9% to $9.87 by 10:30am AEST. Over the past 12 months its shares have risen 10.82%.
AGL hikes full-year earnings guidance
The news: AGL Energy has lifted its full-year earnings guidance as higher consumer demand and plant improvements helped boost the energy company's performance.
The numbers: AGL now expects underlying EBITDA for FY24 between $2.12 billion and $2.2 billion, up from a range of $2.025 billion and $2.175 billion.
Underlying NPAT guidance was also increased to $760 million to $810 million, up from $680 million to $780 million.
The context: AGL said that the updated guidance reflected "the continued strong operational and financial performance of the business" since it reported a four-fold increase in underlying net profit for the first half in February.
The company said that its recent performance had been boosted by improved plant availability, flexibility and generation, higher consumer demand over the summer period in NSW and Queensland, and continued strong customer markets performance.
The source: ASX announcement
