EDF shares fall after new profit warning due to nuclear outages

PARIS (Reuters) – Shares in EDF fell 1.8% on Thursday after the French utility warned outages at its nuclear power plants would result in a steeper-than-expected cut in power output and thus have a greater than previously estimated impact on 2022 core earnings.

By 0701 GMT, EDF shares were down 1.8% at 8.21 euros, extending losses of over 15% so far this year.

EDF said the impact of the outages largely related to a programme of inspections and repairs the company is carrying out on some of its reactors would have a negative impact of around 18.5 billion euros on the group’s core earnings this year instead of the 14 billion euros previously forecast.

(Reporting by Dominique Vidalon; editing by Richard Lough)