Quarterly ResultMay 13, 2026, 07:08 AM
Hydro One Q1 EPS $0.65, Revenue $2.65B; Megan Telford Appointed CEO
AI Summary
Hydro One reported strong first quarter 2026 financial results with basic earnings per share of $0.65, up from $0.60 in the prior year, and revenues of $2,648 million. The company announced the appointment of Megan Telford as its new President and CEO, effective June 9, 2026, succeeding David Lebeter. Additionally, Hydro One was selected for three new priority transmission line projects in Ontario and declared a quarterly dividend of $0.3531 per share. However, the Ontario Energy Board denied the recovery of $69 million in costs related to a March 2025 ice storm.
Key Highlights
- Megan Telford appointed President and CEO, effective June 9, 2026, succeeding David Lebeter.
- Q1 2026 basic EPS increased to $0.65 from $0.60 in Q1 2025.
- Q1 2026 revenues rose to $2,648 million from $2,408 million in Q1 2025.
- Selected to develop and construct Greenstone, Sudbury to Barrie, and Red Lake Transmission Lines.
- OEB denied recovery of $69 million for March 2025 ice storm costs.
- Declared a quarterly dividend of $0.3531 per share, payable June 30, 2026.
- Capital investments for the quarter were $715 million, with $484 million of new assets placed in-service.
- Net income attributable to common shareholders was $391 million, up from $358 million in Q1 2025.