Enel stock set for results after stronger Endesa nine-month figures
Published on 11/02/2026 at 09:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEndesa strengthens Enel's earnings setup
- Endesa lifted nine-month net profit by 15 percent and confirmed ordinary net profit above 2.4 billion euros for 2026.
- Regulated businesses contributed nearly half of Endesa's EBITDA, while grid investment increased 42 percent.
- Enel is scheduled to present its first nine-month 2026 results on November 12.
Enel's next earnings test is approaching after its Spanish subsidiary Endesa reported stronger nine-month results. Endesa said on October 28 that net profit rose 15 percent year on year to 1.962 billion euros, while ordinary net profit increased 22 percent to 2.125 billion euros. The figures add an operating signal ahead of Enel's scheduled group report on November 12.
Enel published its third-quarter and first nine-month 2026 operating data report on October 30. The group has not yet released the full financial results for the period. Endesa's performance nevertheless provides investors with a significant read-through from one of Enel's main international businesses.
Regulated activities gain weight
Endesa's EBITDA rose 8.4 percent to 4.577 billion euros in the first nine months. The company said regulated businesses, led by electricity distribution and generation in non-peninsular territories, now account for nearly half of EBITDA, compared with approximately 40 percent a year earlier.
Distribution EBITDA increased 24.8 percent to 1.747 billion euros. Endesa attributed the improvement to the regulatory framework in force from January 2026 and settlements relating to previous fiscal years. Combined EBITDA from generation and commercialisation advanced 3 percent to 2.889 billion euros, offsetting weaker performance in renewables.
The earnings mix is relevant for Enel investors because regulated networks can provide more predictable returns than businesses exposed directly to wholesale power prices. Endesa's figures also show that higher generation volumes do not automatically translate into stronger margins: renewable gross margin declined as lower realised power prices and higher solar curtailment offset increased output.
Investment and guidance remain in focus
Endesa increased gross investment 19.4 percent to 1.622 billion euros, including about 900 million euros for distribution networks, up 42 percent from the prior-year period. Electricity distributed rose to 114 terawatt-hours from 109 terawatt-hours, while grid losses improved from 9.5 percent to 9 percent.
The subsidiary confirmed that it expects ordinary net profit to exceed 2.4 billion euros in 2026 despite more demanding market conditions in the fourth quarter. It generated 3.5 billion euros of cash flow in the first nine months and ended the period with 11.187 billion euros of net financial debt. Endesa's updated strategic plan is scheduled for February 2027.
Enel stock traded at 9.27 euros on Lang & Schwarz at 09:03 CET on Monday, November 2, 2026, 0.43 percent below the Xetra close of Friday, October 30, at 9.31 euros. The real-time quote of Enel stock provides the latest trading indication.
Enel stock facts
- Company: Enel S.p.A.
- ISIN: IT0003128367
- Ticker: ENEL.MI
- Lang & Schwarz quote: 9.27 euros, Monday, November 2, 2026, 09:03 CET
- Xetra close: 9.31 euros, Friday, October 30, 2026
Endesa's nine-month results point to stronger regulated earnings and higher network investment, but Enel's group figures will determine whether that momentum is broad-based. The Euro Stoxx 50 provides the relevant broader market context for large eurozone shares.
Enel's more news and analyses on Enel stock will focus next on the group's November 12 results and its assessment of investment execution, earnings quality and the full-year outlook.
