Drax raises 2026 outlook as Drax stock trades at EUR 9.65

Published on 10/06/2026 at 11:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA consensus was GBP 698.00 million for 2026. Drax stock costs EUR 9.65 on October 6, 2026 versus EUR 9.70, down 0.52 percent.

Geometrisches Bauhaus-Poster mit stilisierten Kühltürmen und Schriftzug ENERGY — Bauhaus-Poster mit geometrischen Kühltürmen und Schriftzug ENERGY, passend zu Drax Group plc, ISIN GB00B1VNSX38, Illustration mit AI erstellt.

Drax (ISIN GB00B1VNSX38) was trading at EUR 9.65 at Lang & Schwarz on October 6, 2026 at 11:08 a.m. CEST, down 0.52 percent versus the prior close of EUR 9.70. In a trading update dated September 17, 2026, Drax upgraded its 2026 adjusted EBITDA outlook toward the top end of consensus estimates.

Consensus sets the earnings bar

The company cited analyst consensus of GBP 698.00 million for 2026 adjusted EBITDA as of September 4, 2026, with estimates spanning GBP 680.00 million to GBP 711.00 million. That range gives the outlook a clear benchmark: Drax is targeting the upper end rather than merely repeating the midpoint.

The update followed strong operating performance in July and August, including system-support activity during the summer heatwave. Drax also said its full-year expectation remains dependent on continued operational performance, which keeps execution central to the earnings case.

Bluefield expands the portfolio

Drax completed its acquisition of Bluefield Solar Income Fund on July 31, 2026, for GBP 561.00 million, with an enterprise value of GBP 1.082 billion, according to the company update. The transaction added 0.9 GW of operating solar and wind capacity and lifted capacity under management to 6.1 GW.

The acquisition broadens Drax beyond biomass and flexible generation. Its development pipeline includes 2.0 GW of battery energy storage and 0.9 GW of solar, while the company expects total capital expenditure of GBP 210.00 million to GBP 250.00 million in 2026.

Higher debt adds a counterweight

Drax expects its net debt to adjusted EBITDA ratio to sit above its long-term target of 2.00 times in 2026 because of the acquisition, before moving back toward that level by the end of 2027. The balance-sheet path is therefore a key counterweight to the higher earnings outlook.

In the first half of 2026, Drax generated GBP 279.00 million of adjusted EBITDA, while net debt stood at GBP 1.025 billion, according to the H1 earnings call transcript published by Yahoo Finance. The first-half result supplies the latest reported operating anchor, while the full-year consensus sets the forward test.

Stock remains below its yearly high

The primary listing is on the London Stock Exchange. A finance quote showed Drax at GBp 807.00 on October 6, 2026 at 10:09 a.m. BST, between its 52-week range of GBp 695.50 and GBp 937.50; the primary-exchange price was 13.92 percent below the high.

For German investors, the Lang & Schwarz quote remains the reference: EUR 9.65 intraday, against the EUR 9.70 prior close from October 5, 2026. The next dated strategic marker is the Capital Markets Day scheduled for November 23, 2026, when Drax plans to provide more detail on growth through the decade.