Drax Group plc (GB:DRX) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Drax Group plc reports a robust operational performance, with its Flexible Generation and Pellet Production businesses progressing towards a post-2027 target of over £500 million EBITDA. The company is advancing a £300 million share buyback and has launched Elimini, a US-based renewable power and carbon removals developer, while also exploring significant investment opportunities in biomass and energy security. Drax anticipates its 2024 full-year EBITDA to reach the top end of analyst estimates, driven by strong demand for renewable and dispatchable power.
For further insights into GB:DRX stock, check out TipRanks’ Stock Analysis page.
