Enlight Renewable Energy Stock Earnings Reports

Enlight Renewable Energy reported a strong start to 2026 with Q1 revenue of $200M (up 54% YoY) and adjusted EBITDA of $154M (up 58% YoY, excluding the Sunlight cluster sale). Growth was driven by new U.S. projects (Roadrunner, Quail Ranch), strong wind in Israel and Europe, increased electricity trading in Israel, and FX tailwinds. The U.S. is now the largest segment (37% of revenue) after ramping key projects. Enlight expanded its global portfolio to over 41 factored GW (8% sequential growth) and advanced ~0.5 factored GW into construction in Q1, including CO Bar 3 (475 MW PV). In the U.S., 20 factored GW have completed system impact studies and the company expects to safe-harbor 15–17 factored GW by mid-2026 (with optionality for another 2–4 GW). Europe and MENA remain priority growth areas, with a focus on energy storage (14 GWh portfolio, 4.9 GWh in the mature portfolio) and agrivoltaics in Israel (~3 factored GW in land agreements). Management reaffirmed full-year 2026 guidance: revenues $755–785M and adjusted EBITDA $545–565M, and reiterated a path to a >$2.1B annual revenue run-rate by end-2028. Financially, Enlight strengthened liquidity, raising approximately $740M in Q1 (including $422M equity and $304M project finance), increasing topco cash to $709M, plus subsidiary cash and ample credit/LC capacity. Near-term risks include project timing shifts (some CODs moved modestly into early 2028 for improved returns), interconnection timing constraints for 2030 safe-harbor objectives, and potential supply-chain ripple effects from global geopolitical events, though management emphasized active supplier diversification and growing domestic battery sourcing to mitigate tariff and logistics risks.