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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.
Iberdrola
Iberdrola (IBE) investor relations material
Iberdrola Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
9M adjusted net profit rose 8.8% to €5,140.5M, or 12.7% excluding adverse FX; reported net profit increased 9.6% to €5,816.1M, including Mexico disposal gains.
Adjusted EBITDA grew 7.5% to €11,890.6M, led by Networks; total investment rose 13% to €10,087.2M.
FY2026 adjusted net profit growth guidance increased to >10%, supported by 9M performance and positive Q4 expectations.
Financial highlights
Adjusted revenue was €34,405M (+8.0%), gross margin €18,031.3M (+4.3%), EBITDA €11,890.6M (+7.5%) and EBIT €7,645.1M (+11.3%).
Procurement costs increased 12.3%, mainly reflecting higher Q3 purchase volumes and prices; new sales were beginning to contract at higher prices.
Adjusted net financial expenses increased 45.1% to €1,687M; the net financial result worsened €524M, mainly from derivatives and currency hedges.
Adjusted net operating expenses fell 1%, flat excluding FX; adjusted gross margin rose 5% excluding FX.
Outlook and guidance
FY2026 adjusted net profit growth guidance is >10%, supported by Networks, new capacity, higher sales prices, pumped hydro and efficiency measures.
Targeting 10% average annual adjusted net profit growth over five years; network RAB is expected to exceed €90bn by 2030, with 65% in the UK and US.
Networks RAB is expected to reach €58bn by year-end, up 15%; Q4 outlook includes higher transmission contributions and distribution rate increases.
15 GW of new Power and Customers capacity is planned during 2025–2030; 5.0 GW was installed and 3.8 GW was under construction.
Q4 outlook includes 1.5 GW of additional installations, higher pumped-hydro production and increasing prices for Q4 2026 and 2027.
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Latest events from Iberdrola
- Profit rose 10.7%; FY24 guidance targets 5–7% growth and €12B investment.IBE
Q4 2023 - Net profit up 22% to €4.34B; adjusted EBITDA +7.4%; investments +25% to €7B.IBEQ2 2026
- €5B deal for 80% of Finland’s top distributor secures regulated growth and stable cash flows.IBEM&A announcement
- Record profits, major investments, and strong shareholder backing marked the 125th AGM.IBEAGM 2026
- Adjusted net profit up 11.4% to €1,865M, guidance raised to 8%+ growth, led by Networks.IBEQ1 2026
- 2025 net profit rose 12% to €6,285M as Networks grew and net debt fell to €50.2B.IBEQ4 2025
- Acquisition creates the UK's second-largest electricity network operator, boosting EPS from year one.IBEM&A Announcement
- Net profit up 64% to €4.13B, recurring EBITDA up 9%, and guidance raised for 2024.IBEQ2 2024
- Record profit and investment underpin 2025 growth outlook and a 15% dividend increase.IBEQ4 2024
Next Iberdrola earnings date
Q4 202624 Feb, 2027
Iberdrola
Next Iberdrola earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Iberdrola, S.A. engages in the generation, transmission, distribution, and supply of electricity in Spain and internationally. The company operates through five business units: Spain, Noriega, Central America and Brazil, Windpower and Renewable Projects, Dominican Republic, and Corporate. The Spain business unit operates in Spain and provides electricity to customers through two networks: Iberdrola Comercial, which offers industrial, commercial and residential areas; and Iberdrola Industrial. Iberdrola, S.A. was founded in 1840 and is headquartered in Bilbao, Spain.