0940 GMT - Drax reported a good set of full-year results with adjusted earnings before interest, taxes, depreciation and amortization beating consensus expectations by 2%, JP Morgan analysts Pavan Mahbubani and Mukund Verma write. Investors will want more guidance from the power-generation company on its capital-expenditure plans given the increased uncertainty around large-scale bioenergy with carbon capture and storage (BECCS) projects in the U.K. and U.S., they write. The market underappreciates Drax's biomass assets, its flexible generation capabilities and its pellet production, the analysts write. The market currently gives no value to Drax's growth options via U.K. BECCS projects or pumped hydro expansion, they add. Shares trade flat at 641.50 pence.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 04:43 ET (09:43 GMT)
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