)
Mercury NZ (MCY) investor relations material
Mercury NZ Q4 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong Q4 performance with higher renewable generation and disciplined portfolio management, resulting in a trading margin of $390m, up 33% year-over-year.
Major milestones reached in wind and hydro projects, including full turbine installation at Kaiwera Downs Stage 2 and on-schedule progress at Kaiwaikawe Wind Farm.
Launched Flex Rates, a new Time of Use electricity plan for retail customers.
Financial highlights
Trading margin for the quarter was $390m, up $97m year-over-year; YTD trading margin rose $269m to $1,421m.
Generation volume for the quarter was 2,344GWh, up 339GWh year-over-year; YTD generation volume increased by 1,163GWh to 9,070GWh.
SIB CAPEX for the quarter was $63m and growth CAPEX was $96m.
Outlook and guidance
Kaiwaikawe Wind Farm expected to be fully operational in H1 FY27, with first generation from 6 turbines already started.
Fast-track consent granted for Puke Kapo Hau Wind Farm, supporting future growth in the renewable pipeline.
- Lower profits, major renewable investment, and strong dividend growth highlighted at AGM.MCY
AGM 20258 Jul 2026 - Aims for NZD 1.15–1.25bn EBITDA by 2030, driven by renewables, digital, and scale.MCY
Investor Day 20258 Jul 2026 - EBITDAF down, net loss reported, but renewables investment and dividend growth continue.MCY
H1 20258 Jul 2026 - Record $877m EBITDAF, strong renewables, but FY25 outlook dampened by dry hydro and gas costs.MCY
H2 202416 Jun 2026 - EBITDAF dropped 10% to $786M, but renewables and growth drive a strong FY26 outlook.MCY
H2 202516 Jun 2026 - EBITDAF up 28% to $537m, net profit $20m, and renewables projects progressing strongly.MCY
H1 202616 Jun 2026 - Renewable growth, customer focus, and disciplined expansion drive long-term value.MCY
Corporate presentation15 Jun 2026 - Disciplined growth in renewables, cost efficiency, and innovation drive long-term value creation.MCY
Investor presentation15 May 2026 - Approved 77 MW wind farm near Dargaville will boost renewables with NZ's largest turbines.MCY
Investor presentation15 May 2026
Next Mercury NZ earnings date
Next Mercury NZ earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Explore our global coverage
)
)