Enlight Renewable Energy Ltd. (NASDAQ:ENLT) reported first-quarter results on Tuesday that significantly exceeded analyst expectations, lifting its shares by 5.18% in premarket trading.
The company posted adjusted earnings per share of $0.16, beating estimates by $0.10, while revenue reached $200 million—well above the $163.83 million consensus, representing a 22% outperformance.
Revenue Growth Across All Segments
Total revenues and income climbed 54% year-on-year to $200 million, supported by strong contributions from all business segments. Electricity sales generated $156 million, up 43%, while income from tax benefits rose to $43 million compared with $20 million in the same period last year.
Guidance Reaffirmed
Enlight reaffirmed its full-year 2026 outlook, expecting total revenues and income between $755 million and $785 million, implying growth of around 32% versus 2025. Adjusted EBITDA is projected in the range of $545 million to $565 million, representing a 27% increase. The midpoint of the revenue guidance at $770 million is above analyst expectations.
Profitability and Cash Flow Improve
Adjusted EBITDA came in at $154 million, compared with $132 million a year earlier. Excluding gains related to the sale of stakes in the Sunlight cluster, adjusted EBITDA totaled $142 million, marking a 58% increase from $89 million in the first quarter of 2025.
Cash flow from operating activities also rose sharply, increasing 58% to $100 million.
CEO Highlights Strong Momentum
“2026 is off to a strong start, reflected in consistent and impressive over 50% growth across Enlight’s financial metrics,” said Adi Leviatan. “These strong results are a direct testament to the structural resilience of the renewable energy sector, and to Enlight’s proven execution capabilities in particular.”
Expanding Portfolio and Funding
The company expanded its portfolio to 21.5 gigawatts of generation capacity and 69 gigawatt-hours of energy storage, totaling 41.25 FGW—an 8% increase compared with the end of 2025.
The mature portion of the portfolio includes 6.4 gigawatts of generation capacity and 17.9 gigawatt-hours of storage, totaling 11.6 FGW.
During the quarter, Enlight secured approximately $740 million in financing, including $422 million from an equity issuance and $304 million in project financing for its Crimson Orchard project in Idaho.