National Grid stock raises FY27 earnings outlook after strong half-year update

Published on 10/06/2026 at 14:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

National Grid stock faces its next results date on November 5, 2026 after FY27 EPS guidance moved above 13%-15%. Ventures contributed GBP 130 million in first-half performance.

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National Grid stock (ISIN GB00BDR05C01) now points to FY27 underlying EPS growth slightly above its 13%-15% guidance after the October 5, 2026 pre-close update, according to StockTitan. The company said the update covered the six months ended September 30, 2026, with half-year results due on November 5, 2026.

Guidance moves above 13%-15%

National Grid Ventures & Other is expected to deliver GBP 130 million of additional first-half performance relative to expectations. The company attributed the improvement to one-off fair value gains from two NG Partners capital market transactions and stronger interconnector trading, as described by Investing.com.

The regulated businesses provide a more measured counterpoint. UK electricity transmission and distribution operating profit is expected to be broadly evenly split across the year, while US regulated profit is weighted toward the second half.

Fiscal 2025/26 delivered growth

National Grid's latest investor figures show underlying operating profit of GBP 5,680 million in fiscal year 2025/26, up 8.8% from GBP 5,221 million in fiscal year 2024/25. Underlying EPS rose 8.3% to 78.0p from 72.0p over the same periods, according to National Grid.

Capital investment increased 21.3% to GBP 11,576 million in fiscal year 2025/26 from GBP 9,542 million a year earlier. The increase shows why execution remains central to the stock story as the group expands regulated electricity and gas infrastructure.

Dividend per share also increased 3.8% to 48.49p from 46.72p in the same comparison. The combination of network investment, regulated earnings and portfolio gains gives the October update two distinct elements: recurring operating delivery and a one-off contribution from Ventures.

Execution remains the next test

Hargreaves Lansdown said on October 5, 2026, that the stronger Ventures performance gave National Grid's full-year guidance a modest boost, while also noting that the contribution included one-off investment gains. Its analysis identified delays or cost overruns in the infrastructure buildout as a risk to investor returns.

The immediate test is therefore the November 5, 2026 half-year release. Investors will be looking for the reported six-month performance, the treatment of the GBP 130 million contribution and the balance between regulated earnings and non-recurring gains.

November results set the checkpoint

National Grid's next scheduled company event is its half-year results for the six months ended September 30, 2026, on November 5, 2026. The date and reporting period are stated in the October 5, 2026 company update.