The raised guidance and strong operational cash flow ($289M in 9M 2026) signal accelerating project execution and financial health. Monitor the pace of construction milestones for the 8.7 FGW mature portfolio, particularly CO-Bar and the new European storage projects, as these drive the 2028 revenue target of $2.2B-$2.3B.
Price Chart
Executive Summary
Enlight Renewable Energy reported Q3 2026 total revenues and income of $231M, up 40% YoY, and Adjusted EBITDA of $154M, up 38% YoY. The company raised its 2026 guidance for revenues and income to $810M-$830M and Adjusted EBITDA to $575M-$590M, citing strong operating results, electricity trading in Israel, and higher European electricity prices. Net income was $34M, up 4% YoY, but excluding a $20M PPA termination charge and other items, net income rose 76%.
Key Financial Metrics
Key Facts
- Q3 2026 total revenues and income of $231M, up 40% YoY from $165M.
- Q3 2026 Adjusted EBITDA of $154M, up 38% YoY from $112M.
- Q3 2026 net income of $34M, up 4% YoY from $32M; excluding one-time items, net income increased 76%.
- Q3 2026 operating cash flow of $104M, up 26% YoY from $83M.
- 2026 guidance raised: revenues and income now expected $810M-$830M (prior $790M-$820M); Adjusted EBITDA now $575M-$590M (prior $565M-$585M).
- U.S. segment revenues and income grew 90% YoY to $80M; Europe segment grew 16% to $52M; MENA segment grew 27% to $99M.
- Total portfolio reached 46.2 FGW, up 7.1% from Q2 2026; mature portfolio (operating, under construction, pre-construction) at 12.7 FGW.
- All five phases of the 2.4 FGW CO-Bar complex in Arizona are now under construction; $2.6B financing closed.
- Company recorded a $20M pre-tax PPA termination expense for the Rustic Hills and Gemstone projects in the U.S.
- Cash and cash equivalents at topco level totaled $420M; consolidated long-term debt of $5.6B, 86% at fixed rates.
Financial Impact
Q3 revenues and income grew 40% YoY to $231M; Adjusted EBITDA grew 38% to $154M; 2026 guidance raised by $15M at the midpoint for both revenue and Adjusted EBITDA.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| MENA | $98.6M | +27.0% |
| Europe | $52.2M | +16.0% |
| U.S. | $80.2M | +90.0% |
Risk Factors
- PPA termination expense of $20M for Rustic Hills and Gemstone projects indicates potential for further contract renegotiations or cancellations.
- Consolidated long-term debt of $5.6B and heavy capital expenditure ($2.1B in 9M 2026) create refinancing and execution risk.
- Exposure to electricity price volatility in Europe and merchant market exposure in the U.S. could impact project returns.
- Geopolitical risk from operations in Israel and reliance on U.S. tax credits under the IRA.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-004975 |
| Exhibit: exhibit_99-2.htm | 0001178913-26-004975 |
| Document: zk2636315.htm | 0001178913-26-004975 |
| Document: 0001178913-26-004975-index-headers.html | 0001178913-26-004975 |
| Document: 0001178913-26-004975-index.html | 0001178913-26-004975 |
| Document: 0001178913-26-004975.txt | 0001178913-26-004975 |
| Earnings Context (Synthetic; results releases only) | 0001178913-26-004975 |
Track record
36 reports on ENLT
6 of 9 bullish or bearish reports moved the stock their way by T+1. Best: +38.14% at T+20 after the Mar 30, 2026 report. 8 of 9 went positive at some point.
Filters
- Nov 10, 2026today 6-K Neutral 4/10 Entry $70.73 Now $70.52 −0.30% settles Nov 12
- Nov 10, 2026today 424B5 Neutral 3/10 Entry $69.39 Now $70.52 +1.63% settles Nov 12
- Nov 9, 20261d ago Institutional Cluster Neutral 3/10 Entry $69.93 to $70.52 Now $70.52 +0.84% ▲ +0.84% +1.21% vs SPY
- Nov 3, 20267d ago 6-K Bullish 6/10 Viewing No price data
- Nov 3, 20267d ago Press Release Bullish 6/10 Entry $64.75 to $67.65 Now $70.52 +8.91% ▲ +4.48% +2.83% vs SPY
- Nov 2, 20268d ago 3 Neutral 1/10 Entry $66.49 to $64.75 Now $70.52 +6.06% ▼ −2.62% −2.92% vs SPY
- Oct 28, 202613d ago 6-K Neutral 2/10 Entry $67.83 to $68.89 Now $70.52 +3.97% ▲ +1.56% +1.94% vs SPY
- Oct 13, 202628d ago Press Release Neutral 1/10 Entry $70.44 to $69.12 Now $70.52 +0.11% ▼ −1.87% −0.79% vs SPY
- Oct 13, 202628d ago 6-K Neutral 2/10 Entry $70.44 to $69.12 Now $70.52 +0.11% ▼ −1.87% −0.79% vs SPY
- Oct 5, 20265w ago Insider Cluster Neutral 3/10 Entry $65.94 to $67.58 Now $70.52 +6.95% ▲ +2.49% +1.94% vs SPY
US Market Status
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