Uniper Reports First-Quarter Loss After Decline in Energy Prices
German utility Uniper SE confirmed a first-quarter loss after a drop in energy prices since the start of the year.
Uniper reported a loss in adjusted earnings before interest, taxes, depreciation and amortization of €139 million ($157 million) in the first quarter, compared with profit of €885 million a year earlier.
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Josh Nelson, head of Global Equity "An expanding opportunity set in stock markets was on its way prior to last year's U.S. presidential election; the trade policies implemented since then have merely sped up the process. We believe this will lead to an expansion of investable stocks in the U.S. and abroad. We are returning to an investing environment in which more sectors and regions can generate meaningful returns—an environment demanding diversification and favoring active management. The broadening of equity market leadership is likely to favor value stocks and select emerging markets." Ken Orchard, head of International Fixed Income "The U.S. administration's tariffs and the massive German fiscal expansion have broken historical precedent and shifted the global fixed income landscape, resulting in a weaker outlook for developed market sovereign bonds and a stronger one for credit and some emerging markets. The likelihood of a global recession—with the U.S. leading the downturn—has also increased. However, instead of a traditional recession, what may transpire—especially in the U.S.—is a longer period of subpar growth with both higher unemployment and higher inflation." Tim Murray, Capital Markets strategist "In times of rapid geopolitical change, we tend to lean more heavily than usual on asset class valuations when making portfolio allocation decisions. Even after the concentrated selling pressure on growth stocks and value's relative outperformance in early 2025, value stocks look relatively more attractive than growth stocks moving forward. In a typical economic growth downturn or recession, we would expect U.S. equities to hold up better than international stocks. But we believe the underlying dynamics of this year's slump may be different, leading us to modestly favor non-U.S. shares." ABOUT T. ROWE PRICE Founded in 1937, T. Rowe Price (NASDAQ: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages USD $1.56 trillion in assets under management as of April 30, 2025, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and IMPORTANT INFORMATION This material is being furnished for general informational and/or marketing purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as the primary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial, and tax advice before making any investment decision. The T. Rowe Price group of companies, including T. Rowe Price Associates, Inc., and/or its affiliates, receives revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. T. Rowe Price Investment Services, Inc., distributor. T. Rowe Price Associates, Inc., investment adviser. T. Rowe Price Associates, Inc., and T. Rowe Price Investment Services, Inc., are affiliated companies. © 2025 T. Rowe Price. All Rights Reserved. T. ROWE PRICE, INVEST WITH CONFIDENCE, and the Bighorn Sheep design are, collectively and/or apart, trademarks of T. Rowe Price Group, Inc. View original content to download multimedia: SOURCE T. Rowe Price Group Sign in to access your portfolio
