CEZ stock reports higher profit as 2026 guidance rises

Published on 10/06/2026 at 14:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CEZ stock stood at CZK 1,347 on October 6, 2026, while H1 net income rose 10 percent to CZK 18.1 billion. Management lifted EBITDA guidance to CZK 109-114 billion.

CEZ, CZ0005112300, Illustration mit AI erstellt.

CEZ stock (ISIN CZ0005112300) was trading at CZK 1,347 on October 6, 2026 at 2:32 p.m. CEST, giving the company a market capitalization of CZK 723.1 billion. The key earnings signal is stronger net income despite weaker operating profit: as Yahoo Finance reported from the August 11, 2026 earnings call, CEZ lifted its full-year 2026 guidance.

Guidance moves higher

CEZ raised its 2026 EBITDA guidance from CZK 107-112 billion to CZK 109-114 billion. Adjusted net income guidance moved from CZK 30-34 billion to CZK 31-35 billion, giving investors a clearer earnings range for the full year.

The upgrade came as the company balanced lower power prices against higher distribution earnings, stronger nuclear generation and higher electricity prices linked to the conflict in the Persian Gulf, according to Yahoo Finance. The new EBITDA range is CZK 2 billion above the previous midpoint comparison, while the adjusted net income range is also CZK 1 billion higher at both ends.

Profit rises while EBITDA falls

For the first half of 2026, CEZ generated net income of CZK 18.1 billion, up 10 percent from CZK 16.5 billion in the first half of 2025. EBITDA fell 20 percent to CZK 59 billion as lower power prices reduced generation earnings, showing why the statutory profit increase does not represent a broad-based operating expansion.

Operating cash flow increased 55 percent to CZK 26 billion in the first half, while net debt reached CZK 200 billion, according to Yahoo Finance. The combination leaves the guidance upgrade as the central operating issue, while the lower EBITDA base remains a counter-factor for valuation.

Analysts remain cautious

MarketScreener lists an Underperform consensus from 11 analysts, with an average price target of CZK 1,097.38, a high target of CZK 1,540 and a low target of CZK 600. The spread shows that analysts place very different values on CEZ's power-price exposure, state influence and planned restructuring.

Market data place the October 6 price between a 52-week low of CZK 1,086 and a high of CZK 1,398. The next company checkpoint listed by Moneyo is the publication of first-three-quarter results on November 12, 2026.

CEZ stock holds a wide valuation debate

CEZ stock was last at CZK 1,347 on the Prague Stock Exchange on October 6, 2026 at 2:32 p.m. CEST, down CZK 2, or 0.15 percent, from the previous close. The market is therefore weighing a higher full-year earnings range against a 20 percent H1 EBITDA decline and an Underperform analyst consensus.