SSE expects lower seasonality in H1 as networks lift earnings

1st Oct 2026 09:00

(Sharecast News) - Electricity provider SSE said on Thursday that it expects half‑year adjusted earnings per share of 64p to 68p, flagging a lower level of seasonality as regulated networks made up a growing share of profits.

SSE, which also reiterated full‑year guidance, reported continued strong delivery across its regulated networks, with investment running about 70% higher year‑on‑year, driven largely by accelerating progress across its 11 major transmission projects.

Renewables output was also set to be around 20% higher than the same period last year, helped by more favourable weather and capacity growth. It also highlighted that turbine installation at its Dogger Bank B site had passed the halfway mark and remained on schedule.

The FTSE 100-listed firm reaffirmed adjusted earnings per share guidance of 168p to 193p for 2026/27 and 225p to 250p for 2029/30, noting that expectations remained subject to weather, market conditions and plant availability through the key winter months.

Capital investment for the half‑year was expected to be around £2.5bn, with adjusted net debt and hybrid capital forecast at about £11.5bn.

As of 0900 BST, SSE shares were down 1% at 2,466p.

Reporting by Iain Gilbert at Sharecast.com

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