By Javi West Larrañaga

April 10 (Reuters) - The outlook for European corporate health has improved, the latest LSEG I/B/E/S forecasts showed on Thursday, as energy companies are set to rake in a windfall from higher crude prices.

Companies included on Europe's benchmark STOXX 600 index .STOXX are expected to report growth of 4.2% in first-quarter earnings, on average, according to the LSEG data, compared to the 4% rise estimated last week.

That is mostly due to the energy sector, whose earnings are forecast to jump by 23.6% year-on-year, while the rate for the rest is seen at 1.9%, on average.

• Although crude prices have softened since the two-week ceasefire deal between the U.S. and Iran was announced, futures are still up by about 30% to 50% compared to before the conflict

• Q1 profits of European majors were expected to grow at a very modest 0.9% at the beginning of the year

• Estimates have improved in recent weeks, especially after the conflict in the Middle East began, though the average is skewed by the energy sector

• Earnings of utilities and real estate companies on the index are expected to drop by 12.2% and 13.6%, respectively

• Companies' performance over the next months will hinge on the duration of the conflict, investors say

• According to the data, revenues of STOXX 600 firms are also expected to grow, though at a slower rate than earnings, by 1.6%