By Pierre Bertrand


Uniper shares fell, reversing earlier gains Wednesday, after the German gas importer reiterated it expected lower earnings in 2024.

At 1137 GMT shares were trading 6.5% lower at EUR55.54, after having traded up 4.9% earlier in the session.

Uniper reiterated during its post-earnings conference call that it expected earnings this year to normalize, reflecting lower commodity prices.

The company guided for between 700 million euros ($759.2 million) and EUR1.1 billion in adjusted net income this year, with between EUR1.5 billion and EUR2 billion in 2024 adjusted earnings before interest, taxes, depreciation, and amortization.

The company reported EUR7.16 billion in adjusted Ebitda and EUR4.43 billion in adjusted net income in 2023.

Analysts at UBS said Uniper's guidance for the year came below consensus of EUR2.2 billion for adjusted Ebitda and EUR1.0 billion in adjusted net income.

"Updated hedges show a slight worsening of prices in Germany and the Nordics for 2024 and 2025, although newly disclosed 2026 hedges look strong albeit at low volumes," UBS analysts said.


Write to Pierre Bertrand at pierre.bertrand@wsj.com


(END) Dow Jones Newswires

02-28-24 0654ET