Canada's Hydro One Q1 profit rises on OEB-approved rates

Hydro One

13/05/2026 12:08

Overview

Canada electricity utility's Q1 revenue and net income rose yr/yr

Q1 basic EPS rose to C$0.65 from C$0.60 a year earlier

Company names Megan Telford as next CEO, succeeding David Lebeter in June

Outlook

Company did not provide specific financial guidance for the current or future periods

Result Drivers

OEB-APPROVED RATES - Co said higher revenues were mainly due to OEB-approved 2026 rates

HIGHER PEAK DEMAND - Co said increased average monthly peak demand contributed to revenue growth

LOWER OM&A COSTS - Slightly lower OM&A costs, mainly from reduced work program expenditures, helped support results

Company press release: ID:nCNWjwLyKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$2.65 bln
C$2.48 bln (1 Analyst)
Q1 EPS
C$0.65
Q1 Net Income
C$391 mln
Q1 Basic EPS
C$0.65


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy."

Wall Street's median 12-month price target for Hydro One Ltd is C$57.00, about 3.6% below its May 12 closing price of C$59.15

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)