SSE (SSE) Q2 2027 TU earnings summary

Executive summary

• Strong operational performance in regulated networks, with investment up 70% year-over-year, primarily in Transmission.

• Renewable generation output increased by approximately 20% year-over-year due to favorable weather and capacity growth.

• Dogger Bank offshore wind farm progressing as planned, with Dogger Bank B turbine installation over halfway complete.

Financial highlights

• Interim adjusted EPS expected between 64 and 68 pence, reflecting reduced seasonality as regulated networks contribute more earnings.

• Full-year adjusted EPS guidance reiterated at 168–193p for 2026/27 and 225–250p for 2029/30.

• Capital investment for the half-year projected at around £2.5bn.

• Adjusted net debt and hybrid capital expected to be about £11.5bn at half-year.

Outlook and guidance

• Financial expectations for each business unit remain unchanged, subject to weather, market conditions, and plant availability.

• Key winter months ahead will be significant for full-year performance.