Hydro One Ltd (HRNNF) Form 6-K — Aug 12, 2026
Hydro One reported Q2 2026 net income attributable to common shareholders of C$370 million, up 13.1% from C$327 million a year earlier, with basic and diluted EPS of $0.62 versus $0.54. Quarterly revenues rose 11.4% to C$2,302 million, driven primarily by OEB-approved 2026 rates and higher average peak demand. For the first half of 2026, revenues climbed 10.6% to C$4,950 million and net income attributable to common shareholders rose 11.1% to C$761 million. Funds from operations grew 14.4% to C$706 million in the quarter, and the annualized FFO-to-net-debt ratio improved to 14.1% from 13.6%.
Key figures
- Eps
- $0.62 (Q2 2026 basic and diluted, vs $0.54); $1.27 (H1 2026, vs $1.14)
- Revenue
- C$2,302M (Q2 2026); C$4,950M (H1 2026)
- Net Income
- C$370M (Q2 2026 attributable to common shareholders); C$761M (H1 2026)
- Total Debt
- C$19,965M long-term debt principal; C$19,385M net debt
- Revenue Yoy
- +11.4% (Q2); +10.6% (H1)
- Total Assets
- C$41,074M
- Cash Position
- C$643M (June 30, 2026)
- Ffo H1
- C$1,411M (+8.5% YoY)
- Ffo Q2
- C$706M (+14.4% YoY)
- Currency
- CAD unless noted
- Etr Guidance
- 11%-15% through 2027 due to re-introduced accelerated capital cost allowance
- Ewt Lp Dilution
- Ownership diluted from ~48% to 40%; C$14M dilution loss; ~C$30M sale proceeds
- Capital Plan2026
- C$3,854M
- Capital Plan2027
- C$4,742M
- Dividends Paid H1
- C$412M
- Effective Tax Rate Q2
- 15.6%
- Weighted Avg Debt Term
- 13.0 years
- Long Term Debt Issued H1
- C$1,373M
- Q2 Capital Investments
- C$812M (-11.1% YoY)
- Weighted Avg Debt Coupon
- 4.2%
- Annualized Ffo To Net Debt
- 14.1%
- Oeb Denied Storm Recovery
- C$69M denied out of $223M Z-Factor storm cost application
- Usd Senior Notes Issued Q2
- US$1,000M (swapped to fixed CAD via cross-currency swaps)
- Net Debt To Capitalization
- 59.9%
- Dividend Declared Aug11 2026
- $0.3531/share (~C$211M), payable Sept 29, 2026
- Province Of Ontario Ownership
- 47.1%
AI analysis
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