EDP Renewables announced that its recurring net profit in the first nine months of 2026 increased by 133% year-on-year, mainly driven by the strengthening of its U.S. business and substantial gains from the sale of renewable energy assets. The company's stock price had already risen before the announcement of the results, but investors also took into account the upcoming leadership transition.

This Portuguese renewable energy producer stated that its recurring net profit for the first three quarters was 439 million euros, compared to 189 million euros in the same period last year. The reported net profit increased to 440 million euros, more than quadrupling from the same period last year; the recurring EBITDA grew by 23% to 1.73 billion euros.

U.S. growth and asset sales drive performance

North America played an important role in the company's financial performance, with a 9% increase in power generation and a 10% increase in electricity sales. However, a large part of the improvement in profitability came from asset rotation, which involves selling equity in renewable energy projects to raise funds for subsequent investments.

The profits generated by these transactions amounted to 333 million euros, compared to 59 million euros in the same period last year. Excluding these profits, the underlying EBITDA only grew by 4%.

EDP Renewables generated approximately 309 terawatt-hours of electricity during these nine months, representing a year-on-year increase of 2%. Its installed renewable energy capacity has also expanded to about 20.5 gigawatts.

Operating cash flow increased by 30% to 1.15 billion euros; however, net debt rose from 8.11 billion euros at the end of 2025 to 8.35 billion euros.

Stock prices rise ahead of earnings.

EDP Renewables Stock Price

However, the stock is still below its 52-week high of 14.67 euros. This indicates that investors are still assessing the company's growth prospects and financial condition. Next, the market will focus on whether the latest earnings can support further increases in the stock price, especially since the company relies on asset sales to boost profits.

CEO's departure adds uncertainty

While announcing the financial results, the company also announced changes to its leadership. On November 4th, EDP stated that CEO Miguel Stilwell will step down at the end of his current term in 2027. The company has initiated a succession process and expects that this transition will prioritize ensuring strategic continuity.

Looking to the future, investors will be focused on the sustainability of profit growth, debt levels, and the company's further expansion in the United States.

Danielle Walgenbach

Danielle is a journalist who covers cryptocurrency and financial markets. She has over four years of reporting experience and is adept at breaking down complex financial and economic topics into clear, well-researched reports.