TEL AVIV, Israel, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Enlight Renewable Energy (TASE & NASDAQ: ENLT), a leading global renewable energy developer and an independent power producer, will release its financial results for the third quarter ended September 30, 2025, before market open on Wednesday, November 12, 2025. The earnings release with the financial results as well as additional investor presentation materials will be accessible on the Company’s website at https://enlightenergy.co.il/data/financial-report ...

Enlight Renewable Energy (NASDAQ: ENLT) said its U.S. subsidiary, Clēnera Holdings, has finalized two tax equity partnerships for the Roadrunner Solar and Energy Storage Project near Tucson, Arizona. J.P. Morgan Chase Bank (NYSE: JPM) will provide financing for the 290-megawatt solar portion, while M&T Bank (NYSE: MTB) and First Citizens Bank (NASDAQ: FCNCA) are backing the 940-megawatt-hour storage facility. Combined commitments total $340 million at commercial operation and are expected to increase to ...

Core Insights - Enlight Renewable Energy's U.S. subsidiary Clēnera Holdings has secured two tax equity partnerships for the Roadrunner Solar and Energy Storage Project in Arizona, enhancing its growth strategy in the U.S. renewable energy market [1][2][6] Financial Commitments - The partnership with J.P. Morgan involves a tax equity contribution for the 290 MW solar component, while M&T Bank and First Citizens Bank provide financing for the 940 MWh storage component, totaling approximately $340 million in commitments at COD, expected to rise to nearly $390 million with additional pay-go contributions [2][3] Project Overview - The Roadrunner project represents a total investment of $621 million, with the solar component having begun test energy production and full commercial operation anticipated by the end of 2025. It is projected to generate over $50 million in annual revenues and approximately $40 million in EBITDA in its first full operating year [3][4] Tax Incentives - The solar component is expected to benefit from Production Tax Credits (PTC), while the storage component will receive Investment Tax Credits (ITC). The project is also expected to qualify for a 10% Energy Community Adder, enhancing the financial viability of the partnerships [4][6] Revenue Stability - All of Enlight's U.S. projects are supported by BUSBAR power purchase agreements (PPAs) with investment-grade offtakers, including a 20-year PPA with the Arizona Electric Power Cooperative for the Roadrunner project, ensuring stable long-term revenues [5][6] Strategic Positioning - Co-located solar and energy storage projects are central to Enlight's strategy, providing reliable clean electricity and flexibility to the grid. The Roadrunner project is positioned as a flagship utility-scale project, contributing to Enlight's leadership in large-scale clean energy deployment in the U.S. [6][7]

分组1 - Enlight Renewable Energy Ltd. reported quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.06 per share, representing an earnings surprise of -83.33% [1] - The company posted revenues of $134.98 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 9.58%, compared to year-ago revenues of $84.7 million [2] - Enlight Renewable Energy Ltd. shares have increased approximately 34.3% since the beginning of the year, outperforming the S&P 500's gain of 7.1% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.10 on revenues of $138.59 million, and for the current fiscal year, it is $0.89 on revenues of $511.65 million [7] - The Zacks Industry Rank for Alternative Energy - Other is currently in the bottom 41% of over 250 Zacks industries, indicating potential challenges for the sector [8]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 53% year-over-year, reaching $135 million, and adjusted EBITDA rose by 57% to $96 million [7][26] - Net income decreased to $6 million from $9 million in the same quarter last year, primarily due to a non-cash charge related to a foreign currency shareholder loan [7][28] - The company raised its full-year 2025 guidance, with revenues now expected between $528 million and $535 million, and adjusted EBITDA between $393 million and $400 million [7][30] Business Line Data and Key Metrics Changes - Revenue from electricity sales increased by 37% to $160 million, driven by newly operational projects [26][27] - New projects contributed $30 million to revenues from electricity sales, with significant contributions from projects in Israel and Europe [27][28] Market Data and Key Metrics Changes - Revenue distribution for the second quarter was 40% from Israel, 35% from Europe, and 25% from the U.S. [27] - The company is well-positioned in the U.S. market due to regulatory clarity and a supportive business environment, which is expected to drive accelerated growth [11][12] Company Strategy and Development Direction - The company aims for an annual revenue run rate of approximately $2 billion by 2028, which is about four times the expected revenue for 2025 [8] - The company is expanding its leadership team to support its growth strategy, with a new CEO set to take over in October [8][9] - The focus is on capitalizing on the growing demand for renewable energy, particularly in the U.S. and Europe, where energy storage opportunities are being pursued [10][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the positive market environment for renewable energy, driven by electrification trends and AI demand [10] - The company believes that project returns will remain attractive due to lower capital expenditures and higher power prices [11] - Management highlighted the importance of energy storage in Europe and Israel, where the company is expanding its projects significantly [13][14] Other Important Information - The company has secured $310 million in financing for the hybridization of the Hekama project in Spain, contributing to its expansion plans [29] - The company has raised $1.8 billion in project finance and $300 million from corporate debt and asset sales to support its growth strategy [29] Q&A Session Summary Question: Safe harbor and project completion timelines - Management confirmed that they have six gigawatts fully safe harbored, which accounts for the majority of their plans towards 2027, and they are well-positioned to accelerate projects if needed [35][36] Question: Supply chain and tariff impacts - Management stated that current projects will not be impacted by new tariff cases, and they have a diversified supply chain strategy to mitigate risks [40][41] Question: FX contributions to guidance - Management acknowledged that while FX has been a tailwind, the guidance increase is primarily due to strong operational performance [60] Question: Component costs and market adaptation - Management discussed that U.S. component costs are higher due to tariffs, but they expect gradual adaptation in the market [62] Question: ITC sales revenue contribution - Management clarified that the estimated tax benefit contribution has been adjusted to $70 million to $80 million for the year, slightly narrowing the previous range [67][68]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 53% year-over-year, reaching $135 million, and adjusted EBITDA rose by 57% to $96 million [6][24][28] - Net income decreased to $6 million from $9 million in the same quarter last year, primarily due to a foreign currency shareholder loan revaluation [6][26] - The company raised its full-year 2025 guidance, projecting revenues between $520 million and $535 million and adjusted EBITDA between $385 million and $400 million, reflecting a 5.5% to 6% increase [7][28] Business Line Data and Key Metrics Changes - Revenue from electricity sales grew by 37% to $160 million, driven by newly operational projects, contributing $30 million to revenues [24][25] - The company’s adjusted EBITDA growth was supported by $47 million from the same factors driving revenue increases, despite a $13 million rise in cost of sales linked to new projects [26][27] Market Data and Key Metrics Changes - Revenue distribution for the second quarter was 40% from Israel, 35% from Europe, and 25% from the U.S., indicating a diversified revenue base [25] - The company is well-positioned in the U.S. market due to regulatory clarity and a supportive business environment, which is expected to drive accelerated growth [10][12] Company Strategy and Development Direction - The company aims for an annual revenue run rate of approximately $2 billion by 2028, which is about four times the 2025 revenues [7] - The focus is on expanding energy storage projects in Europe and Israel, with significant planned storage capacity [12][13] - The company is also exploring opportunities in data centers, leveraging its renewable energy assets [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the positive market environment for renewable energy, driven by electrification trends and AI demand [9] - The company believes that lower capital expenditures and higher power prices will maintain attractive project returns [10] - Management highlighted the importance of adapting to regulatory changes and maintaining a diversified supply chain to mitigate risks [39][58] Other Important Information - The company has secured $310 million in financing for the hybridization of the Hekama project in Spain, enhancing its financial flexibility [27] - The leadership transition is set to occur in October, with the current CEO becoming Executive Chairman [7][20] Q&A Session Summary Question: Safe harbor and project completion timelines - Management confirmed that six gigawatts are fully safe harbored, positioning the company well to meet future criteria [33][36] Question: Supply chain and tariff impacts - The company has a diversified supply chain strategy and is not locked into any specific supplier, allowing flexibility in pricing [39][41] Question: Future project supply and PPA trends - Management indicated that the demand for electricity, particularly from data centers and AI, will drive future project development [50][52] Question: FX contributions to guidance - FX has positively impacted guidance, but strong operational performance is the primary driver of confidence in future results [56] Question: Component costs and market adaptation - The company expects U.S. component costs to gradually adapt, reflecting changes in tariffs and market conditions [58][59]

Core Insights - Enlight Renewable Energy reported strong financial results for Q2 2025, with significant year-over-year growth in revenues and adjusted EBITDA, although net income saw a decline due to foreign exchange impacts and increased expenses [3][6][25]. Financial Performance - For Q2 2025, total revenues and income reached $135 million, a 53% increase from $88 million in Q2 2024 [23]. - For the first half of 2025, total revenues and income were $265 million, up 46% from $182 million in the same period last year [6][23]. - Net income for Q2 2025 was $6 million, down 41% from $9 million in Q2 2024, primarily due to foreign exchange losses and increased financial expenses [25]. - Adjusted EBITDA for Q2 2025 was $96 million, a 57% increase from $61 million in Q2 2024 [26]. Guidance and Future Outlook - The company raised its full-year 2025 revenue guidance to a range of $520-535 million, up from the previous range of $490-510 million, reflecting a 5.5% increase at the midpoint [7][21]. - Adjusted EBITDA guidance for 2025 was also increased to $385-400 million, up 6% at the midpoint from the previous range of $360-380 million [7][21]. Portfolio and Project Development - Enlight's total portfolio now includes 20.0 GW of generation capacity and 53.4 GWh of energy storage, a 17% increase from the end of 2024 [10]. - The company is advancing towards the construction of additional projects, with expectations of reaching an annual revenue run rate of $1.9-2.2 billion by 2028 [8][15]. - New operational projects contributed significantly to revenue growth, with 525 MW and 1,604 MWh of new projects connected to the grid [24]. Market Environment - The recent reconciliation bill is seen as favorable for utility-scale solar and storage segments, providing growth opportunities for companies like Enlight [5]. - The demand for renewable energy generation and energy storage continues to grow in Europe and MENA markets [5].

[Executive Summary & Financial Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Financial%20Highlights) Enlight Renewable Energy reported strong Q2 and 1H 2025 financial results, raised full-year guidance, announced leadership changes, and outlined a positive market and strategic outlook [Second Quarter and First Half 2025 Financial Performance](index=1&type=section&id=Second%20Quarter%20and%20First%20Half%202025%20Financial%20Performance) Enlight Renewable Energy reported strong financial results for Q2 and 1H 2025, with significant year-over-year growth in revenues, net income (for 1H), and Adjusted EBITDA, though Q2 net income decreased due to foreign exchange impacts and increased financial expenses Financial Performance Summary (Millions USD) | ($ millions) | 30/06/2025 (3 months) | 30/06/2024 (3 months) | % change (3 months) | 30/06/2025 (6 months) | 30/06/2024 (6 months) | % change (6 months) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues and Income | 135 | 88 | 53% | 265 | 182 | 46% | | Net Income | 6 | 9 | (41)% | 107 | 34 | 216% | | Adjusted EBITDA | 96 | 61 | 57% | 227 | 133 | 71% | | Cash Flow from Operating Activities | 48 | 56 | (15)% | 91 | 91 | 0% | - Q2 2025 Net Income decreased by **41%** YoY to **$6 million**, primarily due to a **$12 million** non-cash accounting reduction from foreign exchange differentials on a dollar-denominated loan to a subsidiary and an **$8 million** increase in other financial expenses. New projects contributed **$15 million** to net income[4](index=4&type=chunk)[26](index=26&type=chunk) [Full Year 2025 Guidance Update](index=2&type=section&id=Full%20Year%202025%20Guidance%20Update) Following strong first-half results, Enlight Renewable Energy has raised its full-year 2025 guidance for both revenue and Adjusted EBITDA, reflecting increased confidence in its operational performance Full Year 2025 Guidance (Millions USD) | Metric | Previous Guidance (millions) | New Guidance (millions) | Midpoint Increase | | :--- | :--- | :--- | :--- | | Revenue | $490-$510 | $520-$535 | 5.5% | | Adjusted EBITDA | $360-$380 | $385-$400 | 6.0% | [Executive Leadership Changes](index=2&type=section&id=Executive%20Leadership%20Changes) Effective October 1, 2025, Adi Leviatan will assume the role of CEO, succeeding Gilad Yavetz, who will transition to full-time Executive Chairman of the Board, with Yair Seroussi becoming Vice Chairman - Adi Leviatan will become **CEO** on October 1, 2025, with current CEO Gilad Yavetz appointed as **Executive Chairman of the Board**. Yair Seroussi will serve as **Vice Chairman**[7](index=7&type=chunk)[10](index=10&type=chunk) [Market Environment and Strategic Outlook](index=2&type=section&id=Market%20Environment%20and%20Strategic%20Outlook) The company observes a positive and stable market environment across its operating regions, particularly benefiting from favorable U.S. reconciliation bill terms for solar and storage, and continued growth in European and MENA markets, while advancing its roadmap to add 2 to 4 FGW of capacity by the end of 2028 - The recently passed reconciliation bill is favorable for utility-scale solar and storage segments, providing significant growth opportunities, especially for energy storage projects due to extended tax credit eligibility[8](index=8&type=chunk) - Europe and MENA markets continue to show strong demand for renewable energy generation and storage[8](index=8&type=chunk) - Enlight is progressing towards constructing an additional **2 to 4 FGW** (Factored GW) for commercial operation by the end of 2028, with **1 to 2 FGW** expected in the U.S. This is projected to increase the total annual revenue run rate to **$1.9-2.2 billion** by the end of 2028[9](index=9&type=chunk) [Portfolio Review](index=3&type=section&id=Portfolio%20Review) Enlight's total portfolio expanded to 35.3 FGW, with significant growth in mature assets and strategic development across operating, under construction, and pre-construction phases [Total Portfolio Overview](index=3&type=section&id=Total%20Portfolio%20Overview) Enlight's total portfolio has expanded to 35.3 FGW, a 17% increase from the end of 2024, comprising 20.0 GW of generation capacity and 53.4 GWh of energy storage, with the mature portfolio also growing by 7% to 9.2 FGW Enlight's Total Portfolio Summary | Component | Status | FGW | Annual revenues & income run rate ($m) | | :--- | :--- | :--- | :--- | | Operating | Commercial operation | 3.1 | ~527 | | Under Construction | Under construction | 2.9 | ~550 | | Pre-Construction | 0-12 months to start of construction | 3.2 | ~450 | | **Total Mature Portfolio** | Mature | **9.2** | **~1,500** | | Advanced Development | 13-24 months to start of construction | 6.0 | - | | Development | 2+ years to start of construction | 20.1 | - | | **Total Portfolio** | | **35.3** | - | - The total portfolio increased by **17%** from **30.2 FGW** at the end of 2024 to **35.3 FGW**, including **20.0 GW** generation capacity and **53.4 GWh** energy storage[11](index=11&type=chunk) - The Mature portfolio grew by **7%** from **8.6 FGW** at the end of 2024 to **9.2 FGW**, consisting of **6.2 GW** generation capacity and **10.3 GWh** storage[11](index=11&type=chunk) [Operating Portfolio Details](index=3&type=section&id=Operating%20Portfolio%20Details) The operating component of the portfolio stands at 3.1 FGW, generating approximately $527 million in annualized revenues, with a new floating PV and storage project in Israel, Bar-On (67 FMW), commencing operation in Q2 - The operating portfolio is **3.1 FGW** and generates approximately **$527 million** in annualized revenues and income[12](index=12&type=chunk)[13](index=13&type=chunk) - Bar-On floating PV and storage (**67 FMW**) in Israel entered into operation during Q2 2025[13](index=13&type=chunk) [Under Construction Portfolio Details](index=3&type=section&id=Under%20Construction%20Portfolio%20Details) The under construction portfolio is 2.9 FGW, primarily consisting of four U.S. projects totaling 2.5 FGW, with Snowflake A (1.1 FGW) in Arizona moving to under construction status in Q2, and these projects are expected to contribute approximately $550 million to annual revenues upon full operation - The under construction portfolio is **2.9 FGW**, with four U.S. projects accounting for **2.5 FGW**[12](index=12&type=chunk)[13](index=13&type=chunk) - Snowflake A (**1.1 FGW**) in Arizona entered under construction status during Q2 2025[13](index=13&type=chunk) - Projects under construction are projected to add approximately **$550 million** to the annual revenues and income run rate in their first full year of operation[13](index=13&type=chunk) [Pre-Construction Portfolio Details](index=4&type=section&id=Pre-Construction%20Portfolio%20Details) The pre-construction portfolio stands at 3.2 FGW and is expected to contribute approximately $450 million in revenues during its first full year of operations, with significant additions including Iftah HV (Israel) and the Nardo expansion (Italy), projecting total operating capacity to reach 9.2 FGW and $1.5 billion in annualized revenue by 2028 upon completion of all mature portfolio projects - The pre-construction portfolio is **3.2 FGW** and is expected to contribute approximately **$450 million** in revenues and income in its first full year of operations[14](index=14&type=chunk)[16](index=16&type=chunk) - New additions to the development portfolio include Iftah HV (**184 FMW**) in Israel and the Nardo expansion (**192 FMW**) in Italy[16](index=16&type=chunk) - Upon completion of the current Mature portfolio's pre-construction and under construction projects, Enlight's Mature portfolio operating capacity is expected to rise to **9.2 FGW** and generate an annualized revenue and income run rate of **$1.5 billion** by 2028[14](index=14&type=chunk) [Advanced Development Portfolio Details](index=4&type=section&id=Advanced%20Development%20Portfolio%20Details) The advanced development portfolio totals 6.0 FGW, with 5.1 FGW located in the U.S., where 100% of the capacity has completed the System Impact Study, and the remaining capacity distributed across Europe (0.5 FGW) and MENA (0.4 FGW) - The advanced development portfolio is **6.0 FGW**, with **5.1 FGW** in the U.S. (**100%** passed System Impact Study), **0.5 FGW** in Europe, and **0.4 FGW** in MENA[14](index=14&type=chunk) [Development Portfolio Details](index=4&type=section&id=Development%20Portfolio%20Details) The development portfolio comprises 20.1 FGW, with a significant portion (13.0 FGW) in the U.S. across various regions (PJM, WECC, SPP, MISO), while Europe accounts for 3.4 FGW and MENA for 3.7 FGW - The development portfolio is **20.1 FGW**, including **13.0 FGW** in the U.S. (PJM, WECC, SPP, MISO regions), **3.4 FGW** in Europe, and **3.7 FGW** in MENA[15](index=15&type=chunk) [Project and Corporate Finance](index=5&type=section&id=Project%20and%20Corporate%20Finance) Enlight plans significant construction and commissioning activities through 2028, supported by strong financial closings and robust liquidity [Construction and Commissioning Outlook](index=5&type=section&id=Construction%20and%20Commissioning%20Outlook) Enlight plans to commence construction on 4.8 FGW of capacity in 2025, with 2.9 FGW already underway, expecting these projects to add substantial revenue and EBITDA run rates between 2025 and 2028, and approximately 0.8 FGW slated for commissioning by the end of 2025 - Enlight plans to commence construction on **4.8 FGW** of capacity in 2025, with **2.9 FGW** already started[18](index=18&type=chunk) - These projects are expected to add approximately **$827-869 million** in revenues and income run rate and **$726-763 million** in annualized EBITDA gradually through 2025-2028[18](index=18&type=chunk) - Approximately **0.8 FGW** is expected to be commissioned by the end of 2025, adding **$142-150 million** to annualized revenues and income and **$123-129 million** to annualized EBITDA[20](index=20&type=chunk) [Financial Closings and Liquidity](index=5&type=section&id=Financial%20Closings%20and%20Liquidity) During Q2, Enlight secured $310 million in financial closings for the Gecama hybridization project in Spain, maintaining strong liquidity with $525 million in credit facilities (only $9 million drawn) and cash and cash equivalents increasing to $480 million from $387 million at the end of 2024 - The Company secured **$310 million** in financial closings for the Gecama hybridization project in Spain during Q2 2025[19](index=19&type=chunk) - Cash and cash equivalents increased to **$480 million** as of June 30, 2025, up from **$387 million** at the end of 2024[19](index=19&type=chunk) - Enlight maintained **$525 million** in credit facilities, with only **$9 million** drawn, and has approximately **$1 billion** in LC and surety bond facilities, half of which was available at quarter-end[19](index=19&type=chunk) [Detailed Financial Results Analysis](index=6&type=section&id=Detailed%20Financial%20Results%20Analysis) Enlight's Q2 2025 revenues significantly increased, driven by new projects and tax benefits, while net income decreased due to foreign exchange impacts and higher financial expenses, though Adjusted EBITDA saw strong growth [Revenues & Income](index=6&type=section&id=Revenues%20%26%20Income) Total revenues and income for Q2 2025 increased by 53% year-over-year to $135 million, driven by a 37% rise in electricity sales and a 478% increase in tax benefit income, with new operational projects, particularly Atrisco and the Israel Solar and Storage Cluster, as key contributors, and revenue distribution being 40% from MENA, 35% from Europe, and 25% from the U.S. Revenues and Income by Segment (Millions USD) | Segment | Q2 2025 ($m) | Q2 2024 ($m) | % change (Q2) | 1H 2025 ($m) | 1H 2024 ($m) | % change (1H) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | MENA | 53 | 38 | 40% | 96 | 66 | 45% | | Europe | 48 | 42 | 14% | 99 | 101 | (2)% | | U.S. | 34 | 5 | 526% | 69 | 10 | 593% | | Other | 0 | 3 | (93)% | 1 | 5 | (77)% | | **Total Revenues & Income** | **135** | **88** | **53%** | **265** | **182** | **46%** | - Q2 2025 total revenues and income increased by **53%** YoY to **$135 million**, with electricity sales up **37%** to **$116 million** and tax benefit income up **478%** to **$19 million**[22](index=22&type=chunk) - New projects connected since Q2 2024 contributed **$30 million** to electricity sales revenue, with Atrisco adding **$13 million** and the Israel Solar and Storage Cluster adding **$12 million**. Atrisco's initial commissioning also increased tax benefit income by **$16 million**[23](index=23&type=chunk) [Net Income](index=7&type=section&id=Net%20Income) Net income for Q2 2025 decreased by 41% year-over-year to $6 million, primarily due to a $12 million non-cash accounting reduction from foreign exchange differentials and an $8 million increase in other financial expenses, despite a $15 million contribution from new projects, with an adjusted net income (excluding FX impact) showing a 110% YoY increase to $16 million - Q2 2025 net income was **$6 million**, a **41%** decrease from **$9 million** in Q2 2024[26](index=26&type=chunk) - The decrease was mainly due to a **$12 million** non-cash accounting reduction from foreign exchange differentials on a dollar-denominated loan to a subsidiary and an **$8 million** increase in other financial expenses (after tax)[26](index=26&type=chunk) - New projects contributed **$15 million** to net income. Adjusting for the foreign currency accounting reduction, net income would have been **$16 million**, a **110%** increase YoY[26](index=26&type=chunk) [Adjusted EBITDA](index=7&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA for Q2 2025 increased by 57% year-over-year to $96 million, primarily driven by factors contributing to revenue and income increases, partially offset by a $13 million rise in Cost of Goods Sold (COGS) due to new projects and a $3 million increase in operating expenses - Adjusted EBITDA grew by **57%** to **$96 million** in Q2 2025, up from **$61 million** in Q2 2024[27](index=27&type=chunk) - The increase was driven by factors contributing to revenue and income growth, offset by a **$13 million** increase in COGS from new projects and a **$3 million** increase in operating expenses[27](index=27&type=chunk) [Corporate Information & Disclosures](index=8&type=section&id=Corporate%20Information%20%26%20Disclosures) Enlight provides details on its upcoming Q2 2025 conference call, defines non-IFRS financial measures, outlines forward-looking statement disclaimers, and offers an overview of the company's operations [Conference Call and Investor Information](index=8&type=section&id=Conference%20Call%20and%20Investor%20Information) Enlight Renewable Energy will host a conference call and webcast on August 6, 2025, to discuss its Q2 2025 financial results and business outlook, available in both English and Hebrew, with registration links provided for participants - Enlight will hold its Q2 2025 Conference Call and Webcasts on Wednesday, August 6, 2025, in English and Hebrew[29](index=29&type=chunk) - Registration links for the English conference call and webcast, and the Hebrew webcast, are provided in the release[29](index=29&type=chunk)[30](index=30&type=chunk) [Non-IFRS Financial Measures](index=9&type=section&id=Non-IFRS%20Financial%20Measures) The release presents Adjusted EBITDA as a non-IFRS financial measure, complementing IFRS results, defined as net income (loss) adjusted for various non-cash and financial items, used by management to evaluate operational performance and for planning, but with inherent limitations compared to IFRS measures - **Adjusted EBITDA** is a non-IFRS financial measure provided as a complement to IFRS results[32](index=32&type=chunk) - Adjusted EBITDA is defined as net income (loss) plus depreciation and amortization, share-based compensation, finance expenses, taxes on income, and share in losses of equity-accounted investees, minus finance income and non-recurring portions of other income, net. It also includes compensation for inadequate performance and realized gains/losses from asset disposals[33](index=33&type=chunk) - Non-IFRS measures have limitations and should not be considered in isolation or as substitutes for IFRS financial information, as other companies may calculate them differently[34](index=34&type=chunk) [Forward-Looking Statements](index=9&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements regarding Enlight's business strategy, project capabilities, market opportunities, future financial results, and regulatory impacts, which are subject to known and unknown risks, uncertainties, and other important factors that could cause actual results to differ materially, and the company disclaims any obligation to update these statements - The press release contains forward-looking statements covered by the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995[35](index=35&type=chunk) - These statements involve known and unknown risks, uncertainties, and other important factors that may cause actual results to be materially different, including challenges in project development, interconnection, regulatory approvals, construction delays, supply chain disruptions, competition, and market price exposure[36](index=36&type=chunk) - The company undertakes no obligation to update or revise publicly any forward-looking statements, except as required by applicable law[37](index=37&type=chunk) [About Enlight](index=11&type=section&id=About%20Enlight) Founded in 2008, Enlight Renewable Energy develops, finances, constructs, owns, and operates utility-scale renewable energy projects across solar, wind, and energy storage segments, operating globally in the United States, Israel, and 10 European countries, and is dual-listed on the Tel Aviv Stock Exchange (TASE: ENLT) and Nasdaq (ENLT) - Enlight Renewable Energy, founded in 2008, develops, finances, constructs, owns, and operates utility-scale renewable energy projects[38](index=38&type=chunk) - The company operates across solar, wind, and energy storage segments in the United States, Israel, and **10 European countries**[38](index=38&type=chunk) - Enlight is traded on the Tel Aviv Stock Exchange (TASE: ENLT) since 2010 and completed its U.S. IPO on Nasdaq (ENLT) in 2023[38](index=38&type=chunk) [Appendices - Financial Statements](index=12&type=section&id=Appendices%20-%20Financial%20Statements) This section provides the consolidated statements of income, financial position, and cash flows, offering a detailed view of Enlight's financial performance and health [Consolidated Statements of Income](index=12&type=section&id=Consolidated%20Statements%20of%20Income) The consolidated statements of income provide a detailed breakdown of revenues, expenses, and profit for the three and six months ended June 30, 2025, and 2024, including total revenues and income, operating profit, finance expenses, and net income, with adjustments made for comparability Consolidated Statements of Income (Thousands USD) | USD in thousands | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenues | 225,875 | 175,095 | 116,117 | 84,698 | | Tax benefits | 38,972 | 6,526 | 18,861 | 3,262 | | **Total revenues and income** | **264,847** | **181,621** | **134,978** | **87,960** | | Total operating expenses | (156,306) | (105,991) | (81,469) | (53,674) | | Gains from projects disposals | 97,828 | 611 | 566 | 584 | | **Operating profit** | **208,743** | **77,769** | **57,554** | **34,881** | | Total finance expenses, net | (74,120) | (34,246) | (50,612) | (22,818) | | **Profit for the period** | **107,372** | **33,944** | **5,569** | **9,459** | | Basic earnings per share | 0.80 | 0.21 | 0.75 | 0.07 | | Diluted earnings per share | 0.01 | 0.20 | 0.01 | 0.06 | - The Consolidated Statements of Income have been adjusted retrospectively to present comparable information for the previous period, reflecting changes in income statement presentation and removal of the Gross Profit line item[40](index=40&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk) [Consolidated Statements of Financial Position](index=13&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) The consolidated statements of financial position present the company's assets, liabilities, and equity as of June 30, 2025, and December 31, 2024, showing total assets increased to $6.82 billion, driven by growth in fixed assets and deferred costs for projects, and total liabilities also increased, primarily due to higher loans from banks and other financial institutions Consolidated Statements of Financial Position (Thousands USD) | USD in thousands | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total assets** | **6,823,695** | **5,546,885** | | Cash and cash equivalents | 480,459 | 387,427 | | Fixed assets, net | 4,747,284 | 3,699,192 | | Deferred costs in respect of projects | 448,096 | 357,358 | | **Total liabilities** | **5,175,252** | **4,105,951** | | Loans from banks and other financial institutions (current) | 504,684 | 212,246 | | Loans from banks and other financial institutions (non-current) | 2,294,910 | 1,996,137 | | **Total equity** | **1,648,443** | **1,440,934** | | Equity attributable to shareholders of the Company | 1,342,262 | 1,180,526 | - Total assets increased from **$5,546,885 thousand** at December 31, 2024, to **$6,823,695 thousand** at June 30, 2025[42](index=42&type=chunk)[43](index=43&type=chunk) - Total liabilities increased from **$4,105,951 thousand** at December 31, 2024, to **$5,175,252 thousand** at June 30, 2025, primarily due to an increase in loans from banks and other financial institutions[43](index=43&type=chunk) [Consolidated Statements of Cash Flows](index=15&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The consolidated statements of cash flows detail the cash movements from operating, investing, and financing activities for the three and six months ended June 30, 2025, and 2024, showing net cash from operating activities remained stable for the six-month period but decreased for the three-month period, investing activities continued to be a significant cash outflow due to project development, while financing activities provided substantial cash inflows from loans and debenture issuances Consolidated Statements of Cash Flows (Thousands USD) | USD in thousands | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net cash from operating activities | 91,149 | 91,069 | 47,536 | 55,840 | | Net cash used in investing activities | (623,021) | (514,966) | (424,456) | (278,313) | | Net cash from financing activities | 609,416 | 238,048 | 389,137 | 185,673 | | Increase (Decrease) in cash and cash equivalents | 77,544 | (185,849) | 12,217 | (36,800) | | Cash and cash equivalents at end of period | 480,459 | 208,791 | 480,459 | 208,791 | - Cash flows from operating activities for the six months ended June 30, 2025, were **$91,149 thousand**, largely unchanged from **$91,069 thousand** in the prior year[44](index=44&type=chunk) - Investing activities resulted in a net cash outflow of **$623,021 thousand** for the six-month period, primarily due to significant purchases, development, and construction of projects (**$658,022 thousand**)[44](index=44&type=chunk) - Financing activities generated **$609,416 thousand** in net cash for the six-month period, mainly from receipt of loans from banks and other financial institutions (**$674,684 thousand**) and issuance of debentures (**$125,838 thousand**) and convertible debentures (**$114,685 thousand**)[45](index=45&type=chunk) [Appendices - Supplementary Financial Data](index=17&type=section&id=Appendices%20-%20Supplementary%20Financial%20Data) This section provides supplementary financial data, including segment information by geography, reconciliation of net income to Adjusted EBITDA, debenture covenants, foreign exchange rate sensitivities, and detailed project information [Segment Information by Geography](index=17&type=section&id=Segment%20Information%20by%20Geography) Enlight's financial results are segmented into MENA, Europe, and USA, reflecting the company's organizational restructuring, with the U.S. segment showing exceptional growth in revenues and income for both the three and six-month periods, while Europe experienced a slight decline in the six-month period, and MENA consistently demonstrated strong growth Total Revenues and Income by Segment (Thousands USD) | Segment | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | MENA | 95,637 | 66,041 | 52,770 | 37,567 | | Europe | 99,184 | 101,123 | 47,800 | 41,963 | | USA | 68,980 | 9,957 | 34,191 | 5,462 | | Others | 1,046 | 4,500 | 217 | 2,968 | | **Total** | **264,847** | **181,621** | **134,978** | **87,960** | - The U.S. segment's total revenues and income grew by **593%** for the six months and **526%** for the three months ended June 30, 2025, compared to the prior year[21](index=21&type=chunk) - The Company's organizational restructuring led to segmenting results into MENA, Europe, and the US, excluding the Management and Construction segment, with comparative figures updated accordingly[47](index=47&type=chunk) [Reconciliation of Net Income to Adjusted EBITDA](index=21&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA) This section provides a reconciliation of Net Income to Adjusted EBITDA, detailing the adjustments made for non-cash items and other financial metrics, with Adjusted EBITDA for the six months ended June 30, 2025, at $227,418 thousand, and for the three months, at $95,703 thousand Reconciliation of Net Income to Adjusted EBITDA (Thousands USD) | ($ thousands) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Income (loss) | 107,372 | 33,944 | 5,569 | 9,459 | | Depreciation and amortization | 71,017 | 50,886 | 37,228 | 25,282 | | Share based compensation | 2,994 | 4,085 | 1,284 | 968 | | Finance income | (8,166) | (15,065) | (1,471) | (7,000) | | Finance expenses | 82,286 | 49,311 | 52,083 | 29,818 | | Gains from projects disposals (*) | (55,336) | - | (363) | - | | Share of losses of equity accounted investees | 1,645 | 449 | 418 | 305 | | Taxes on income | 25,606 | 9,130 | 955 | 2,299 | | **Adjusted EBITDA** | **227,418** | **132,740** | **95,703** | **61,131** | [Debentures Covenants](index=21&type=section&id=Debentures%20Covenants) As of June 30, 2025, Enlight was in compliance with all financial covenants for its Series C, D, F, G, and H Debentures, maintaining equity significantly above minimum requirements, and its net financial debt to net CAP and net financial debt to EBITDA ratios were well within the stipulated limits - As of June 30, 2025, Enlight was in compliance with all financial covenants for its Series C, D, F, G, and H Debentures[52](index=52&type=chunk) Debenture Covenants Compliance (as of June 30, 2025) | Covenant | Requirement | Company's Status | | :--- | :--- | :--- | | Minimum equity | NIS 375m (F), NIS 1,250m (C,D), USD 600m (G,H) | NIS 5,559m (USD 1,648m) | | Net financial debt to net CAP | Not exceed 70% (F), 65% (C,D,G,H) for 2 consecutive periods | 40% | | Consolidated financial debt to EBITDA | Not exceed 18 (F), 15 (C,D), 17 (G,H) for 2 consecutive periods | 7 | | Equity to total balance sheet | Not less than 20% (F), 25% (C,D), 28% (G,H) for 2 consecutive periods | 53% | [Foreign Exchange Rate Sensitivities](index=22&type=section&id=Foreign%20Exchange%20Rate%20Sensitivities) Enlight's revenues are sensitive to fluctuations in foreign exchange rates, particularly USD/ILS and USD/EUR, where a 5% change in either rate individually would result in approximately a $5 million change in revenues, while a combined 5% change in both would lead to an estimated $11 million change for FY25 - A **5%** change in the USD/ILS exchange rate would result in a **~$5 million** change in revenues for FY25[62](index=62&type=chunk) - A **5%** change in the USD/EUR exchange rate would result in a **~$5 million** change in revenues for FY25[62](index=62&type=chunk) - A combined **5%** change in both USD/EUR and USD/ILS exchange rates would result in an **~$11 million** change in revenues for FY25[62](index=62&type=chunk) [Operational Projects Details](index=23&type=section&id=Operational%20Projects%20Details) Detailed information on operational projects by segment (MENA, Europe, USA) is provided, including installed capacity, generation, revenues, and Adjusted EBITDA, with the USA segment showing significant growth in generation and revenue for the six-month period, reflecting the impact of new projects Operational Project Segments (6 Months Ended June 30) | Segment | Installed Capacity (MW) | Installed Storage (MWh) | Generation (GWh) 2025 | Revenues and income 2025 ($ thousands) | Segment Adjusted EBITDA* 2025 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | :--- | | MENA | 675 | 797 | 695 | 95,636 | 64,387 | | Europe | 1,327 | - | 1,353 | 99,184 | 82,226 | | USA | 470 | 1,200 | 519 | 68,980 | 59,913 | | **Total Consolidated** | **2,472** | **1,997** | **2,567** | **263,800** | **206,526** | Operational Project Segments (3 Months Ended June 30) | Segment | Generation (GWh) 2025 | Reported Revenue 2025 ($ thousands) | Segment Adjusted EBITDA* 2025 ($ thousands) | | :--- | :--- | :--- | :--- | | MENA | 378 | 52,769 | 38,637 | | Europe | 649 | 47,800 | 37,563 | | USA | 310 | 34,191 | 29,364 | | **Total Consolidated** | **1,337** | **134,760** | **105,564** | - The USA segment's generation increased significantly from **73 GWh** in 1H 2024 to **519 GWh** in 1H 2025, and its revenues and income rose from **$9,957 thousand** to **$68,980 thousand** in the same period[63](index=63&type=chunk) [Projects Under Construction Details](index=25&type=section&id=Projects%20Under%20Construction%20Details) This section provides a detailed breakdown of projects currently under construction, including their generation and energy storage capacity, estimated Commercial Operation Date (COD), total project cost, and expected first full year revenue and EBITDA, highlighting key projects such as Country Acres, Quail Ranch, Roadrunner, and Snowflake A in the USA, and Gecama Solar in Spain Consolidated Projects Under Construction (Selected) | Project | Country | Capacity (MW/MWh) | Est. COD | Est. Total Project Cost ($m) | Est. First Full Year Revenue ($m) | Est. First Full Year EBITDA ($m) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Country Acres | USA | 403/688 | H2 2026 | 793-834 | 61-63 | 44-46 | | Quail Ranch BESS | USA | 0/400 | H2 2025 | 126-132 | 23-24 | 16-17 | | Roadrunner BESS | USA | 0/940 | H2 2025 | 332-350 | 52-55 | 39-40 | | Snowflake A | USA | 600/1,900 | 2027 | 1,476-1,552 | 124-130 | 100-105 | | Gecama Solar | Spain | 225/220 | H2 2026 | 215-225 | 43-45 | 35-37 | | **Total Consolidated Projects** | | **1,650/4,317** | | **3,419-3,595** | **315-330** | **246-257** | - The total estimated project cost for consolidated projects under construction ranges from **$3,419 million** to **$3,595 million**[65](index=65&type=chunk) - These projects are expected to generate **$315-330 million** in first full year revenue and **$246-257 million** in first full year EBITDA[65](index=65&type=chunk) [Pre-Construction Projects Details](index=26&type=section&id=Pre-Construction%20Projects%20Details) This section outlines projects due to commence construction within 12 months, providing details on capacity, estimated COD, project costs, and projected first full year revenue and EBITDA, highlighting significant U.S. projects like CoBar ITC and PTC, alongside projects in Sweden (Picasso BESS) and Italy (Nardo expansion) Consolidated Pre-Construction Projects (Selected) | Project | Country | Capacity (MW/MWh) | Est. COD | Est. Total Project Cost ($m) | Est. First Full Year Revenue ($m) | Est. First Full Year EBITDA ($m) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | CoBar ITC | United States | 258/824 | H2 2027 | 612-644 | 126-132 | 99-104 | | CoBar PTC | United States | 953/0 | H2 2027 | 1,115-1,173 | 126-132 | 99-104 | | Picasso BESS | Sweden | 0/221 | H1 2027 | 40-42 | 7-8 | 5-6 | | Nardo | Italy | 97/1,254 | H1 2028 | 235-247 | 42-44 | 36-37 | | **Total Consolidated Projects** | | **1,473-1,549** | | **3,520-3,701** | **311-327** | **240-253** | - Total estimated project cost for pre-construction consolidated projects ranges from **$3,520 million** to **$3,701 million**[67](index=67&type=chunk) - These projects are expected to generate **$311-327 million** in first full year revenue and **$240-253 million** in first full year EBITDA[67](index=67&type=chunk) [Tax Equity Investments](index=28&type=section&id=Tax%20Equity%20Investments) This section provides information on tax equity investments for projects like Atrisco PV and Atrisco BESS, detailing the estimated total project cost, upfront tax equity investment, tax credit proceeds, and the tax equity partner's share in cash flows over initial and subsequent periods Tax Equity Investments (Selected Projects) | Projects* | Est. Total Project Cost ($m) | Upfront tax equity investment ($m) | Tax credit proceeds during the project's operation ("pay-go") ($m) | Share in project cash flow initial period (second period) | Duration of initial period for share in project cash flow (years) | | :--- | :--- | :--- | :--- | :--- | :--- | | Atrisco PV | 369 | 198 | 55 | 17.5% (5)% | 10 | | Atrisco BESS | 458 | 222 | - | 19.0% (5)% | 5 | - The Apex financing was structured as a sale and leaseback and is not included in the tax equity investments table[69](index=69&type=chunk) [Appendices - Other Financial Information](index=29&type=section&id=Appendices%20-%20Other%20Financial%20Information) This section details Enlight's cash and corporate debt breakdown, functional currency conversion rates, and structural changes to its consolidated income statements for improved financial reporting [Cash and Cash Equivalents Breakdown](index=29&type=section&id=Cash%20and%20Cash%20Equivalents%20Breakdown) As of June 30, 2025, Enlight's total cash amounted to $631,111 thousand, with $480,459 thousand in cash and cash equivalents, split between the Topco and its subsidiaries, and restricted cash, including for projects under construction and reserves, totaling $150,652 thousand Cash and Cash Equivalents (June 30, 2025) | Category | Amount ($ thousands) | | :--- | :--- | | Enlight Renewable Energy Ltd, Enlight EU Energies Kft and Enlight Renewable LLC excluding subsidiaries ("Topco") | 123,464 | | Subsidiaries | 356,995 | | **Cash and Cash Equivalents** | **480,459** | | Restricted Cash (Projects under construction) | 86,164 | | Restricted Cash (Reserves) | 64,488 | | **Total Cash** | **631,111** | [Corporate Level Debt](index=29&type=section&id=Corporate%20Level%20Debt) As of June 30, 2025, Enlight's corporate level debt totaled $1,008,659 thousand, primarily comprising debentures, convertible debentures, and loans from banks and other financial institutions Corporate Level Debt (June 30, 2025) | Category | Amount ($ thousands) | | :--- | :--- | | Debentures | 634,586 | | Convertible debentures | 257,647 | | Loans from banks and other financial institutions | 116,426 | | **Total corporate level debt** | **1,008,659** | - Debentures include current maturities in the amount of **$25,414 thousand**[71](index=71&type=chunk) [Functional Currency Conversion Rates](index=30&type=section&id=Functional%20Currency%20Conversion%20Rates) The financial statements of Enlight's subsidiaries are prepared in their respective functional currencies and then translated into Israeli Shekel (NIS), the company's functional currency, before being presented in U.S. dollars (USD) for consolidated financial statements, with conversion rates for Euro and NIS to USD provided for June 30, 2025, and 2024, and for the average of the three-month periods - Subsidiaries' financial statements are prepared in their functional currency, translated into NIS (Company's Functional Currency), and then consolidated into USD[72](index=72&type=chunk) FX Rates to USD | Date/Period | Euro | NIS | | :--- | :--- | :--- | | As of 30th June 2025 | 1.13 | 0.28 | | As of 30th June 2024 | 1.07 | 0.27 | | Average for the 3 months period ended June 2025 | 1.17 | 0.30 | | Average for the 3 months period ended June 2024 | 1.08 | 0.27 | [Structural Changes to Consolidated Statements of Income](index=30&type=section&id=Structural%20Changes%20to%20Consolidated%20Statements%20of%20Income) Enlight has retrospectively changed its Income Statement presentation starting with the 2024 full-year financial statements, including presenting specified items previously within 'other income' (e.g., tax equity) and removing the 'Gross Profit' line item, aiming to provide more relevant information and better reflect financial performance - The Company changed its Income Statement presentation starting with the 2024 full-year financial statements[74](index=74&type=chunk) - Changes include presenting specified items (like tax equity) previously in 'other income' and removing the 'Gross Profit' line item[74](index=74&type=chunk) - These changes were applied retrospectively to provide more relevant information and better reflect financial performance[75](index=75&type=chunk)

Financial Performance & Guidance - Second Quarter 2025 saw a 53% increase in revenues and income compared to 2Q24[10, 16] - Adjusted EBITDA increased by 57% in 2Q25 compared to 2Q24[10, 16] - The company is raising its 2025 guidance for total revenues and income to a range of $520-535 million, a 55% increase from the original forecast[10, 18] - Adjusted EBITDA guidance for 2025 is raised to $385-400 million, a 6% increase from the original forecast[10, 18] - The company expects to reach an annual revenue and income run rate of approximately $14 billion by the end of 2027[10] Portfolio & Growth - The company has 48 FGW of projects under construction in 2025, of which 29 GW have already begun construction[10] - The total portfolio is 353 FGW, including 31 FGW operational, 29 FGW under construction, 32 FGW pre-construction, 6 FGW advanced development, and 201 FGW in development[29] - The mature portfolio (operational, under construction, and pre-construction) is expected to generate ~$15 billion of revenues & income[39] - The company plans for 37 FGW of expansions at existing EU+MENA projects (11 GW + 69 GWh) and USA projects (03 GW + 13 GWh) for construction in 2025-27[61, 62] Strategic Initiatives - Gilad Yavetz, Enlight's founder and CEO, will be appointed to the position of full-time Executive Chairman of the Board, and Adi Leviatan will be appointed as CEO[26] - The company secured $310 million in financing to add solar and energy storage to Spain's Gecama wind farm, expected to generate $100 million in annual revenue[40]

Core Viewpoint - Wall Street anticipates flat earnings for Enlight Renewable Energy Ltd. (ENLT) compared to the previous year, with expected higher revenues impacting the stock price based on actual results versus estimates [1][3]. Earnings Expectations - The upcoming earnings report is expected to show earnings of $0.06 per share, unchanged from the year-ago quarter, with revenues projected at $123.18 million, reflecting a 45.4% increase year-over-year [3]. - A positive stock movement is likely if the earnings exceed expectations, while a miss could lead to a decline [2]. Estimate Revisions - The consensus EPS estimate has been revised 11.27% higher in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Enlight Renewable Energy Ltd. is lower than the consensus, resulting in an Earnings ESP of -36.33%, suggesting a bearish outlook from analysts [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, with a strong predictor for positive readings when combined with a favorable Zacks Rank [10][11]. - Enlight Renewable Energy Ltd. currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat [12][13]. Historical Performance - In the last reported quarter, the company exceeded EPS expectations by 15.38%, having beaten consensus estimates in all of the last four quarters [14][15]. Industry Comparison - Clearway Energy, another player in the alternative energy sector, is expected to report earnings of $0.67 per share, a 55.8% increase year-over-year, with revenues projected at $426.66 million, up 16.6% [20]. - Clearway Energy's consensus EPS estimate has been revised 8.6% lower, resulting in an Earnings ESP of -35.07%, indicating a similar challenge in predicting an earnings beat [21].