SSE (SSE) Q1 2027 TU earnings summary

Executive summary

• Networks investment accelerated by 83% year-over-year, with £0.9bn invested in Q1 FY27.

• Renewables output increased 31% year-over-year, driven by favorable weather and capacity additions.

• Adjusted EPS guidance reiterated at 168–193p for 2026/27 and 225–250p for 2029/30.

• Strategic progress made on major infrastructure projects, including Netherton Hub and Dogger Bank B.

Financial highlights

• Networks adjusted investment reached £888m in Q1 FY27, up from £484m in Q1 FY26.

• Onshore wind output rose to 1,460 GWh (Q1 FY27) from 1,233 GWh (Q1 FY26); offshore wind output increased to 982 GWh from 863 GWh.

• Hydro, pumped storage, and battery output grew to 822 GWh from 403 GWh year-over-year.

• Total renewable output reached 3,264 GWh, up from 2,499 GWh year-over-year.

Outlook and guidance

• Adjusted EPS guidance for 2026/27 remains at 168–193p; for 2029/30, 225–250p.

• Financial expectations unchanged, subject to weather, market conditions, and plant availability.

• On track to invest a record £5bn this year as part of the £33bn five-year plan.