Hydro One Ltd

Hydro One reported strong second-quarter 2026 results with basic EPS of $0.62, up from $0.54 year-over-year, and net income of $370 million, an increase from $327 million. Revenues rose to $2,302 million, driven by OEB-approved rates and higher peak demand. The company also announced Megan Telford as its new President and CEO, secured several major transmission line projects totaling over $3.6 billion in investment, and completed a US$1.0 billion debt offering.

Hydro One Limited reported strong financial results for the second quarter and first half of 2026. Net income attributable to common shareholders increased 13.1% to $370 million for the quarter, with basic EPS rising 14.8% to $0.62. Total revenues grew 11.4% to $2,302 million, driven by higher transmission and distribution revenues. The company also issued US$1,000 million in senior notes and expanded its operating credit facilities.

Hydro One Networks Inc. has filed a leave-to-construct application with the Ontario Energy Board (OEB) for the Durham Kawartha Power Line. This approximately $430 million investment will create a 55-kilometre double-circuit, 230-kilovolt transmission line between Clarington Transformer Station and Dobbin Transformer Station, expected to be in service by 2029. The project aims to support growth, enhance reliability, and will offer proximate First Nations a 50% equity stake through Hydro One's First Nation Equity Partnership Model.

Hydro One Limited announced the appointment of Megan Telford as its new President and CEO, effective June 9, 2026. Ms. Telford also joins the Board of Directors, succeeding David Lebeter, who retired. The company also welcomed Perrin Beatty as a new Director, while Helga Reidel and Mitch Panciuk retired from the Board. These changes were confirmed at the Annual Meeting of Shareholders, where all director nominees were elected, KPMG LLP was re-appointed as external auditors, and the executive compensation approach was approved.

Hydro One Networks Inc. has filed a leave-to-construct application with the Ontario Energy Board (OEB) for the Orléans Area Reinforcement Project. This approximately $100 million investment aims to bolster capacity, improve regional transfer capability, and strengthen electricity reliability in the Greater Ottawa Area. The project, which includes a new 11-kilometre transmission line and an upgrade of an existing line, is expected to be in service by 2029.

Hydro One Inc. has filed a preliminary prospectus supplement with the SEC for an offering of senior notes. These notes are being offered and sold in Canada on a private placement basis, pursuant to exemptions from Canadian prospectus requirements. Hydro One Limited, Ontario's largest electricity provider, reported $39.7 billion in assets and $9 billion in annual revenues for 2025, having invested $3.4 billion in its networks and purchased $3.0 billion in goods and services during the year.

Hydro One Networks Inc. has filed two leave-to-construct applications with the Ontario Energy Board (OEB) for two major transmission line projects: the Northeast Power Line and the Longwood to Lakeshore Transmission Line. These projects represent a combined investment of approximately $3 billion, aiming to reinforce Ontario's electricity transmission system and support local economic growth. The company also highlighted its First Nation Equity Partnership Model, offering proximate First Nations a 50% equity stake in the transmission line components of each project.

Hydro One Limited reported a 9.2% increase in net income attributable to common shareholders, reaching $391 million for Q1 2026, with basic EPS rising 8.3% to $0.65. Total revenues grew 10.0% to $2,648 million, driven by OEB-approved rates and higher demand. However, net cash from operating activities decreased by 22.7% to $394 million. The company also saw its ownership in East-West Tie Limited Partnership dilute from 48% to 40%, resulting in a $14 million loss on dilution.

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.

Hydro One Ltd. announced its 2026 Annual Meeting of Shareholders will be held virtually on June 9, 2026. Key agenda items include the election of 10 directors, the re-appointment of KPMG LLP as external auditor, and an advisory vote on executive compensation. Notably, David Lebeter will retire as President and CEO, with Megan Telford appointed as his successor, both effective June 9, 2026. The company also detailed the process for shareholders to access proxy materials and participate in the virtual meeting.