Centrica's Profit Warning Reflects Distressing Operating Trends
Narrow-moat Centrica has released its nine-month trading statement. The group is guiding for 2017 EPS of GBX 12.50, 17% below the GBX 15 expected by the market. Adjusted for a GBX 0.8 one-off, 2017 guided EPS would amount to GBX 13.3, reflecting a deteriorating operating backdrop in the U.S. and the U.K. Management tried to reassure regarding the sustainability of the current dividend of GBX 12 by stating that it is willing to operate with a payout ratio above historical levels for a "period of ...Centrica is an energy and services company. Co.'s segment are: Energy Supply and Services, which supplies gas and electricity in the U.K. and North America; Connected Home, which supplies energy solutions and technologies to residential customers; Distributed Energy and Power, which supplies energy solutions, generation and technologies to commercial and industrial customers; Energy Marketing and Trading, which trades and optimizes energy; Exploration and Production, which produces and processes gas and oil and develops new fields; Central Power Generation, which generates power from combined cycle gas turbines, wind and nuclear assets; and Centrica Storage, gas storage in the U.K.
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