05:04 AM EDT, 04/21/2026 (MT Newswires) -- Barclays expects Energias de Portugal (EDP.LS), d/b/a EDP, to report "more normalized"first-quarter results, consistent with the Portuguese utility's guidance, the research firm said in a Monday earnings preview note.

EDP's recurring net profit is anticipated to come in at 357 million euros in the quarter, down 19% compared with the "exceptionally strong"numbers in the same year-ago period.

"[We] forecast 1Q26 recurring EBITDA of EUR1,320m (higher electricity networks profitability following an increase in Portuguese allowed returns, partly offset by a normalisation in the Hydro, Clients &EM subdivision), recurring net profit of EUR357m and net debt of ~EUR15.7bn,"analysts noted.

Looking ahead, the company is expected to confirm its outlook for full-year 2026. EDP is scheduled to release its first-quarter results on May 7, according to its website.

The stock is rated equal weight, with a price target of 4.50 euros.