Drax Group stock falls 1.64 percent after EBITDA outlook upgrade

Drax Group stock fell 1.64 percent to a closing price of GBp 807.50 on the LSE on September 24, 2026. The decline leaves the shares 13.87 percent below the 52-week high of GBp 937.50, while the company is targeting the top end of a GBP 680 million to GBP 711 million consensus range for 2026 adjusted EBITDA.

EBITDA outlook moves higher

In its trading update dated September 17, 2026, Drax said the outlook had moved to the top of the analyst range, whose September 4 consensus stood at GBP 698 million. Earlier guidance had been GBP 665 million and excluded the Bluefield Solar Income Fund acquisition.

Reuters reported on September 17, 2026, that Drax linked the upgrade to summer heatwave demand, stronger system-balancing activity and the Bluefield deal. The consensus range gives the guidance a defined benchmark, making the upper-end target more meaningful than an unquantified earnings signal.

Bluefield expands renewable capacity

Drax completed the Bluefield transaction on July 31, 2026, for GBP 561 million, with an enterprise value of GBP 1,082 million. The acquisition brought 0.9GW of operational solar and wind assets and a 2.9GW development pipeline into the group, according to the September 17 update.

The combined portfolio lifted total capacity under management to 6.1GW. Drax also said it had more than GBP 1 billion of contracted forward power sales for 2026 to 2028 as of September 15, 2026, including GBP 800 million of associated renewable obligation certificates.

Shares remain below yearly high

Drax Group stock traded at GBp 807.50 on September 24, 2026, after the previous close of GBp 821. The company had a market capitalization of GBP 2,717,948,100 and a 52-week range of GBp 665.50 to GBp 937.50 on the same date.