Quarterly ResultMay 14, 2026, 09:41 AM
National Grid FY2026 Underlying EPS 78.0p (+8%); Record Investment £11.6B
AI Summary
National Grid announced strong full-year results for FY2026, with underlying EPS increasing 8% at constant currency to 78.0p and statutory EPS up 9% to 65.5p. The company achieved record capital investment of £11.6 billion, an 18% increase, driving 10.9% asset growth. National Grid also outlined an ambitious five-year financial framework, committing at least £70 billion in capital investment to modernize and expand energy networks, targeting 8-10% underlying EPS growth and around 10% asset growth CAGR. For FY2026/27, the company expects a 13-15% increase in underlying EPS.
Key Highlights
- Committing at least £70 billion in capital investment over the next five years.
- Underlying EPS grew 8% at constant currency to 78.0p for FY2026.
- Record capital investment reached £11.6 billion, up 18% from the prior year.
- Total dividend per share increased 3.8% to 48.49p.
- Group asset growth was 10.9%, with regulated asset growth at 11.7%.
- Underlying operating profit rose 9% at constant currency to £5,680 million.
- Completed divestments of National Grid Renewables and Grain LNG.
- Forecasts 13-15% underlying EPS increase for FY2026/27.