Enlight Renewable Energy Expects 2024 Revenue Of $335M-$360M Vs. $393.46M Consensus; Sees Adjusted EBITDA Between $235M-$255M
Portfolio Pulse from Benzinga Newsdesk
Enlight Renewable Energy forecasts 2024 revenue of $335M-$360M, below the consensus of $393.46M, with adjusted EBITDA expected between $235M-$255M. This outlook represents a 36% revenue growth and 30% EBITDA growth at the midpoint compared to 2023. The company's revenue composition includes 40% in Israeli Shekel, 55% in Euros, and 5% in US Dollars, with 90% of 2024's generation output to be sold at fixed prices.
February 26, 2024 | 11:51 am
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Enlight Renewable Energy forecasts lower-than-expected 2024 revenue but anticipates significant growth in revenue and EBITDA.
The projected revenue for 2024 is below the consensus estimate, which could lead to a negative short-term reaction in the stock price. However, the anticipated growth rates in revenue and EBITDA highlight a positive growth trajectory, which might mitigate some of the negative impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100