RBC sees EUR 1.72 billion profit for Naturgy stock

Published on 10/21/2026 at 09:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

RBC sees EUR 1.72 billion net income for nine months. Naturgy stock costs EUR 30.66 on October 21, 2026, 0.33 percent below its high.

Earnings view and reporting date

RBC projected EUR 1.72 billion in net income for the first nine months on October 20, 2026.
Spanish distribution networks generated EUR 1.514 billion in EBITDA in the first half of 2026.
Naturgy stock trades at EUR 30.66 at 9:20 a.m. CEST at Lang & Schwarz on October 21, 2026, 0.33 percent below the 52-week high.

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Naturgy stock (ISIN ES0116870314) was trading at EUR 30.66 at Lang & Schwarz on October 21, 2026 at 9:20 a.m. CEST. Benzinga reported on October 20, 2026 that RBC expected Naturgy to post EUR 1.72 billion in net income for the first nine months, up 3.10 percent year over year.

RBC expects higher earnings

RBC also projected EBITDA of EUR 4.358 billion for the first nine months, an increase of 3.40 percent from the comparable period. The estimate gives the upcoming report a clear test: Naturgy's earnings growth must offset weaker renewable generation and pressure in energy management.

The forecast was split across business lines. RBC expected Spanish thermal generation EBITDA to rise 16.00 percent in the third quarter, while Spanish renewables EBITDA was projected to fall 19.00 percent because of weaker wind generation. Energy management EBITDA was expected to decline 2.00 percent in the quarter.

What could offset renewable weakness?

Distribution networks provide the largest earnings counterweight. They contributed EUR 1.514 billion of EBITDA in the first half of 2026, compared with EUR 250 million from Spanish renewables and EUR 222 million from Spanish thermal generation, according to the October 20, 2026 RBC preview carried by Benzinga. The comparison shows why networks remain central to the group's earnings profile.

Next reporting dates

Naturgy's investor-relations calendar lists the nine-month 2026 results for October 29, 2026 at 11:30 a.m. CET, according to the company's investor-relations page. The next annual results date is February 3, 2027, according to the reported earnings calendar.

Naturgy price near yearly high

The euro quote stood EUR 0.10 below the 52-week high of EUR 30.76 on October 21, 2026, a distance of 0.33 percent. The stock's market capitalization was EUR 29.7 billion on October 20, 2026, while the BME listing carried the ticker NTGY.

Naturgy was trading at EUR 30.66 at Lang & Schwarz on October 21, 2026 at 9:20 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Naturgy stock.