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    Will Iberdrola's (BME:IBE) Stronger H1 2026 Earnings Shift Its Profitability Narrative?

    Simply Wall St·08/04/2026 19:32:47
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    • Iberdrola, S.A. has released its half‑year 2026 results, reporting sales of €22,469.1 million and net income of €4,336.4 million, both higher than the same period in 2025.
    • Basic earnings per share rose from €0.535 to €0.622, pointing to stronger profitability and efficiency in converting revenue into shareholder earnings.
    • With earnings per share improving over the half year, we’ll explore how this development interacts with Iberdrola’s existing investment narrative.

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    Iberdrola Investment Narrative Recap

    Iberdrola’s investment case rests on regulated networks and renewables across core markets, with earnings supported by long term infrastructure and policy frameworks. The latest half year results, with higher sales and net income than 2025, reinforce that profitability is holding up, but they do not remove the central short term risk around regulation and funding for its large investment plan, nor do they materially change the importance of near term regulatory and capital market decisions.

    Among recent events, the expansion of Iberdrola’s joint venture with Norges Bank Investment Management to 1,500 MW of renewables stands out alongside these earnings. It connects directly to the catalyst of funding growth through partnerships and asset rotation, as Iberdrola continues to build clean generation capacity while sharing capital requirements. Together with improving half year earnings per share, this highlights how co investment structures can support the broader networks and renewables growth story without relying solely on Iberdrola’s own balance sheet.

    Yet despite solid half year earnings, investors should still pay close attention to the risk that shifting regulatory or financing conditions could...

    Read the full narrative on Iberdrola (it's free!)

    Iberdrola's narrative projects €50.2 billion revenue and €7.9 billion earnings by 2029. This requires 4.1% yearly revenue growth and about a €2.3 billion earnings increase from €5.6 billion today.

    Uncover how Iberdrola's forecasts yield a €20.52 fair value, in line with its current price.

    Exploring Other Perspectives

    BME:IBE 1-Year Stock Price Chart
    BME:IBE 1-Year Stock Price Chart

    Some analysts are far more optimistic, assuming revenue could reach about €54.7 billion and earnings €8.2 billion by 2029, so this latest EPS improvement might prompt you to reassess how those bullish expectations around data center power demand and grid investment compare with more cautious views.

    Explore 7 other fair value estimates on Iberdrola - why the stock might be worth 17% less than the current price!

    The Verdict Is Yours

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.