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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Drax Group
Drax Group (DRX) investor relations material
Drax Group Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading update summary17 Sep, 2026
Upgraded outlook and operational performance
Upgraded 2026 Adjusted EBITDA guidance to the top of consensus estimates, driven by strong operational performance and system support during the summer heatwave.
Successful completion and integration of the Bluefield Solar Income Fund (BSIF) acquisition, adding 0.9GW of operational solar and wind and a 2.9GW development pipeline.
BSIF acquisition supports diversification into solar and wind, complementing existing flexible generation and biomass businesses, bringing total managed capacity to approximately 6.1GW.
Integration plan for BSIF is progressing, with plans to operate it as a dedicated segment and adjust reporting from 2027.
Financial position and capital allocation
£0.8 billion bridge facility drawn to fund the BSIF acquisition, with plans to refinance in due course.
Net debt to Adjusted EBITDA expected above long-term target in 2026 due to acquisition, with deleveraging targeted by end of 2027.
2026 capital expenditure expected at £210–250 million, inclusive of BSIF, with potential for incremental investment in new solar capacity.
Contracted sales and growth initiatives
Over £1 billion in contracted forward power sales between 2026 and 2028, with 14.2TWh net RO, hydro, and gas sales at an average price of £84.9/MWh.
Substantially contracted all external biomass volumes required for Drax Power Station during the new low carbon CfD period (April 2027–March 2031).
Ongoing development of a large-scale data centre at Drax Power Station, with a first phase of approximately 100MW.
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Latest events from Drax Group
- Adjusted EBITDA fell to £279m, but strategic investments will drive 85% capacity growth by 2029.DRX
H1 2026 - £561m all-cash deal expands renewables by 19% with 0.9GW assets, closing Q3 2026.DRXM&A announcement
- Operational strength, asset growth, and stable 2026 outlook drive confidence in future earnings.DRXTrading update
- Record renewable output, robust cash flow, and major BESS investments drive strong 2025 results.DRXH2 2025
- 2025 Adj. EBITDA set to exceed expectations, supporting major growth and shareholder returns.DRXTrading Update
- Strong H1-25 results, buyback extension, and new CfD terms boost long-term earnings outlook.DRXH1 2025
- Strong 2024 performance, strategic growth in BECCS and renewables, and robust capital returns.DRXTrading Update
- Adjusted EBITDA up 24% to £515m, net debt down, and £300m buyback announced.DRXH1 2024
- Upgraded post-2027 EBITDA target, record financials, and robust outlook from renewables.DRXH2 2024
Next Drax Group earnings date
CMD 202623 Nov, 2026
Drax Group
Next Drax Group earnings date
CMD 202623 Nov, 2026
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Frequently asked questions
Drax Group plc is an energy company primarily engaged in renewable power generation, energy storage, and biomass production. The company operates one of the largest power stations in the UK, transitioning from coal to sustainable biomass, which forms a significant part of its renewable energy strategy. Drax also provides energy solutions to businesses, focusing on renewable electricity, energy efficiency, and carbon reduction. In addition, the company is involved in developing carbon capture and storage technologies as part of its goal to support a low-carbon economy. The company is headquartered in Selby, England, and its shares are listed on the LSE.