Decline in Revenues1 cent per share profit.
Declines in revenues due to regulatory changes in Spain and the non-recurrence in the spike of European market prices seen in 2022. Still within 2023 guidance, but operating profits took a hit. Same as Orsted.
Like Orsted's CEO, Mike Crawley foresees a bright future. But Orsted's cash flow has already improved greatly, whereas NPI's cashflow continues to decline. However, both stocks have seen a steep decline in their prices.
Just hanging on to hope with thin threads.
COPENHAGEN (Reuters) - Denmark's Orsted, the world's No. 1 offshore wind farm developer, on Thursday reported second-quarter operating profit below expectations and confirmed its full-year guidance.
Mads Nipper, Group President and CEO of rsted, expressed his satisfaction with the results. He stated: "We're pleased with the results for the first half year of 2023, where our Offshore business is back with strong earnings." 4C Offshore.
Also of note was a strong free cash flow improvement. Has the turnaround started?