Overview

* Hydro One ( HRNNF ) Q2 revenue rises to C$2.066 bln, driven by higher consumption

* Basic EPS for Q2 increases to C$0.54 from C$0.49 yr/yr

* Net income for Q2 grows to C$327 mln, reflecting improved performance

Outlook

* Hydro One ( HRNNF ) plans critical investments to meet growing energy demand in Ontario

* Company to support growth with new transmission lines as per Integrated Energy Plan

Result Drivers

* HIGHER RATES - Increased revenue driven by Ontario Energy Board-approved transmission and distribution rates

* ENERGY CONSUMPTION - Higher energy consumption contributed to revenue growth

* COST INCREASES - Higher depreciation, amortization, and asset removal costs partially offset revenue gains

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$2.07

Revenue bln

Q2 EPS C$0.54

Q2 Net C$327

Income mln

Q2 Basic C$0.54

EPS

Q2 C$0.3331

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 10 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy."

* Wall Street's median 12-month price target for Hydro One Ltd ( HRNNF ) is C$49.00, about 2.9% below its August 12 closing price of C$50.43

* The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)