Engie has raised its full-year profit outlook for 2026, with the Ebit (earnings before interest and taxes) excluding nuclear operations now anticipated to be between $8.7 billion and $9.7 billion. This marks a substantial increase from the previously projected range of $8.2 billion to $9.2 billion. The company reported an Ebit excluding nuclear of $8.8 billion, reflecting a 1.5% decrease year-over-year on a gross basis but a 2.2% increase organically. Additionally, the EBITDA reached $13.4 billion.
Engie also adjusted its net recurring income guidance for 2026, now expecting it to be in the range of $4.6 billion to $5.2 billion, an improvement from the earlier forecast of $4.2 billion to $4.8 billion. This revised outlook comes after a strong performance in which Engie's shares have risen by 25% since the beginning of the year. The company's results and strategic portfolio adjustments, including the acquisition of UK Power Networks, are key factors in this positive forecast.
Analyst reactions have been largely supportive, with JP Morgan upgrading its stance on Engie from 'neutral' to 'overweight'. Barclays also maintained its 'overweight' rating, citing a 'compelling' investment case after Engie's strong first-quarter performance. The company's strategic moves, such as the acquisition of UK Power Networks for a cash consideration of $12.3 billion (£10.5 billion) and an enterprise value of $18.6 billion (£15.8 billion), are expected to have an immediate positive impact on results.
