French utility beat analyst expectations in the first half as strong natural gas trading and higher electricity transmission tariff income offset weaker gas deliveries in warmer-than-average weather, prompting a higher 2026 outlook.
Engie reported a 3.3% increase in first-half earnings and raised its 2026 outlook after strong natural gas trading and higher income from electricity transmission tariffs outweighed weaker gas deliveries caused by warmer-than-average weather. The state-backed French utility posted January-to-June EBIT excluding nuclear of €5.3 billion, up from €5.1 billion a year earlier and above the €5.1 billion analyst consensus compiled by LSEG. It now expects full-year 2026 EBIT excluding nuclear of €9.2 billion to €10.2 billion, versus a previous range of €8.7 billion to €9.7 billion, and raised its outlook for group share of net recurring income to €4.9 billion to €5.5 billion from €4.6 billion to €5.2 billion. A newer topic also cited first-half 2026 EPS of $0.66 versus a $0.33 estimate and revenue of $41.52 billion, but those figures were not present in the more detailed company results summary.