Hydro One earnings date
Hydro One's next results are expected on November 10, 2026. For Hydro One, watch whether construction becomes approved earning assets without excessive dilution or debt pressure.
What has Hydro One guided for earnings and dividends?
Management’s promise is steady earnings-per-share and dividend growth through 2027, backed by a growing regulated asset base. EPS means the profit attributable to each common share, and Hydro One targets compound annual EPS growth of 6%–8% from 2023 through 2027. Because growth compounds, each year builds on the previous year’s larger result. The target leads to a 2027 EPS range of C$2.15–C$2.37.
Rate-base growth is therefore not the same as EPS growth. Interest, taxes, operating costs and any new shares still determine what reaches shareholders. Management also promises average annual dividend growth of 6% through 2027, although the board must approve each payment and must consider future cash needs.
What are Hydro One's recent revenue and profit trends?
Revenue, operating income and net income all grew year over year, and diluted earnings per share increased. Gross margin fell, however, because purchased power moved the revenue denominator faster than the underlying delivery earnings.
Operating cash improved while cash capital spending declined, bringing quarterly free cash flow close to break-even. The first half remained negative because the preceding quarter had produced a substantial cash deficit. One positive quarter cannot establish that the annual investment and dividend programme funds itself.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,302 | 2,648 | 2,268 | 2,299 | 2,066 | 2,408 | 2,095 | 2,192 |
| Operating income | 620 | 622 | 436 | 651 | 559 | 592 | 376 | 588 |
| Net income | 370 | 391 | 233 | 421 | 327 | 358 | 200 | 371 |
| EPS, diluted | 0.62 | 0.65 | 0.39 | 0.70 | 0.54 | 0.60 | 0.33 | 0.62 |
| Cash from operations | 686 | 394 | 867 | 713 | 605 | 510 | 703 | 623 |
| = Free cash flow | 11 | -305 | 37 | -70 | -189 | -133 | 24 | -103 |
What this means. Free cash flow can be negative even when the company reports a profit because it spent more cash on equipment, buildings, and software than its daily business brought in.
What should I watch in Hydro One's next results?
The decisive tests are whether regulators approve the plan, projects enter service, reliability improves and credit remains strong. On October 7, 2026, Hydro One submitted an approximately C$37 billion joint investment plan for 2028–2032. A joint rate application asks the Ontario Energy Board, the province’s utility regulator, to review transmission and distribution together and decide what customers should pay.