SSE PLC (LSE:SSE) said earnings for the just completed 2026 financial year are expected to come in 5.5-8.6% lower than last year as it continues investment across its energy networks and renewables businesses.
Adjusted earnings per share of between 147p and 152p are expected for the year to 31 March 2026, down from the 160.9p made the previous year but with the lower end lifted from its previous 144-152p guidance. Consensus expectations are for around 150p.
The FTSE 100 renewable energy producer and transmitter said it remains on track with its five-year £33 billion investment plan, with capital spending for the year expected to total around £3.5 billion.
Investment in its regulated networks is set to rise around 60% year on year, driven mainly by transmission projects. SSE said five of 11 major projects are now under construction, with 26 of 34 key consents secured.
Renewables output is expected to reach around 14.5 terawatt hours, up 10% on the prior year. The increase reflects new capacity coming online, partly offset by mixed weather conditions.
The group added that expectations for other business units remain unchanged.
Adjusted net debt and hybrid capital are expected to stand at just over £10 billion at year-end, while the group said it had liquid funds available of over £5 billion.
SSE said it has seen no immediate impact on performance from developments in the Middle East, citing the resilience of its business mix.