Enel Chile (ENIC) Q3 2026 earnings summary

Executive summary

• 9M EBITDA was $1,021 million, up 1.7% YoY; net income was $390 million, up 10.7%, and FFO rose 25% to $770 million. FY 2026 EBITDA and net income guidance remained on track.

• Improved rainfall and hydro generation in August–September supported operations after dry conditions through July.

• $492 million of 9M capex and $1.7 billion of liquidity supported BESS, renewable generation and grid investment.

Financial highlights

• 9M revenue was $3,480 million, essentially flat YoY; EBIT rose 8.5% to $722 million.

• Q3 EBITDA was $336 million, down 2.6% YoY; Q3 net income was $118 million, up $11 million YoY.

• 9M financial expenses were $179 million versus $157 million a year earlier; Q3 expense narrowed to $58 million from $73 million, aided by FX gains.

• A $140 million increase in other operating revenue came from a gas optimization transaction with Shell finalized in Q1 2026.

• Q3 sourcing reflected prior-year positive energy resettlements and higher energy purchases; Grids & Others benefited from distribution margins and generation Opex efficiencies.

Outlook and guidance

• FY 2026 EBITDA and net income guidance was reaffirmed; expected full-year hydro generation was 11–12 TWh.

• Strong August–September rainfall supported a positive start to the 2026–27 hydrological year; forecast snowmelt had a 43% average probability of exceedance.

• 2027 guidance remained pending year-end hydrology; firm Argentina gas volumes run through April 2027, with no current evidence of material supply risk.

• BESS capacity was expected to rise from 0.2 GW to ~0.8 GW; the Electricity Grid Reform bill was expected to reach Congress in Q1 2027.