Shares of Enlight Renewable Energy Ltd. (ENLT) are soaring 7.48% in pre-market trading on Wednesday following the company's impressive third-quarter results and upward revision of its 2025 guidance. The renewable energy firm reported earnings that surpassed analysts' expectations and showed significant year-over-year growth.
Enlight posted a Q3 earnings per share (EPS) of $0.16, handily beating the FactSet estimate of $0.09. This represents a 33.33% increase from the $0.12 per share reported in the same quarter last year. The company's revenue for the quarter came in at $165 million, up 46% year-over-year, driven by new project connections and expanded operations. Notably, the company's net income for Q3 increased by 33% year-over-year to $32 million.
In light of its strong performance, Enlight raised its full-year 2025 guidance. The company now expects revenue in the range of $555-565 million, up from its previous forecast of $520-535 million. Additionally, the adjusted EBITDA guidance was increased to $405-415 million. Enlight's CEO, Adi Leviatan, attributed the impressive results to the company's strength, team dedication, and focused business strategy. The 23% expansion in Enlight's portfolio, which now includes 37.0 FGW (Factored GW) of generation and storage capacity, further underscores the company's growth potential in the renewable energy market. With these positive developments, Enlight appears well-positioned for continued growth in the clean energy sector.
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