EarningsQ2 2026 Earnings Report

Huaneng Power International (HUNGF) Q2 2026 Earnings Report

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Previous Report: Q1 2026

HUNGF Q2 2026 EPS Results

Actual EPS$0.01

Consensus EPS$0.04

Beat/MissMissed by -$0.02

One Year Ago EPS$0.08

HUNGF Q2 2026 Revenue Results

Actual Revenue$15.37B

Expected Revenue―

Beat/Miss―

YoY Revenue Growth+1.25%

Earnings Announcement Details

QuarterQ2 2026

Date08/18/2026

TimeBefore Open

Conference CallTuesday, August 18, 2026

HUNGF Upcoming Earnings

Huaneng Power International's next earnings date is estimated for October 28, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

HUNGF Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Aug 18, 2026|

% Change Since:

Earnings Call Sentiment|Negative

The call presented a mixed picture: meaningful progress on the company’s low‑carbon transition (notable renewable capacity additions, strong Q2 PV growth, expanding energy storage, and maintained/improved dividend policy) alongside operational challenges that weighed heavily on financials (material YoY decline in net profit, widespread loss-making plants, rising Q2 unit fuel costs, and tariff pressure). Management highlighted active cost control, diversified coal purchasing and contract strategies, but near-term profitability remains under pressure.

Company Guidance

Management guided it will "secure the achievement of the full‑year target" while accelerating cost control, portfolio optimization and low‑carbon transformation: full‑year newly installed capacity target remains 7.7 GW (about 3.04 GW added by end‑June, including 2.55 GW renewables and 490 MW gas), total installed capacity ~159 GW with low‑carbon >42%; electricity storage operational 802 MW (1,661 MWh) and 653 MW (1,390 MWh) under construction; H1 consolidated revenue RMB 106.91bn, net profit attributable RMB 6.59bn (EPS RMB 0.35), H1 capacity‑based subsidy ~RMB 7.4bn (≈RMB 48/MWh); H1 standard coal price RMB 891.02/ton (Q2 company average RMB 907.20/ton), Q2 unit fuel cost RMB 281.03/MWh (coal-fired 269.92/MWh, gas 443.82/MWh) up ~14.6% QoQ, ancillary services revenue H1 RMB 530m; overseas Tuas Power H1 generation 5.32bn kWh with EBIT ~RMB 745m (Sahiwal ~RMB 451m); other near‑term actions include tightening coal purchase management, improving mid/long‑term contract fulfillment (mid/long‑term coverage cited ~84%; 128bn kWh mid/long‑term contracts with yearly contracts ~58%), locking higher‑margin contracts, and maintaining a dividend policy with 2026 interim dividend RMB 0.40/share and a minimum payout ratio of 50%.

Renewable Capacity Additions and Low-Carbon Mix

Added 3.04 GW of total new capacity by end-June (2.55 GW renewables + 490 MW gas); total installed capacity reached ~159 GW and low-carbon/clean energy represents >42% of portfolio.

Strong Second-Quarter PV Performance

PV segment reported Q2 earnings of RMB 989 million, a quarter-on-quarter increase of RMB 756 million; PV on-grid sales rose 40% YoY to 7.65 billion kWh (increase of ~2.19 billion kWh).

International Operations Contributing Positive Earnings

Tuas Power (Singapore) delivered EBIT of RMB 745 million in H1; Sahiwal (Pakistan) contributed RMB 451 million.

Unit Cost and Coal Price Management / Depreciation Benefit

Standard coal price fell YoY to RMB 891.02/ton (down 2.84% YoY); coal-fired unit depreciation saved ~RMB 393 million YoY. The company emphasized diversified coal procurement (long‑term 44.5%, spot 30.72%, overseas 24.78% in Q2) to control fuel costs.

Electricity Storage Capacity Progress

Energy storage in operation: ~802 MW (1,661 MWh); under construction: 653 MW (1,390 MWh), supporting system flexibility and future renewables integration.

Shareholder Returns Maintained and Improved

Dividend dispatched for 2026 of RMB 0.40 per share (up ~50% versus RMB 0.27 per share in 2024); company reiterates dividend policy with payout ratio >=50% in articles of association.

HUNGF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 28, 2026	2026 (Q3)	0.05 / -	0.046	―
Aug 18, 2026	2026 (Q2)	0.04 / 0.01	0.078	-80.77% (-0.06)
Apr 28, 2026	2026 (Q1)	- / 0.04	0.04	-7.41% (>-0.01)
Mar 24, 2026	2025 (Q4)	- / >-0.01	-0.01	35.71% (<+0.01)
Oct 28, 2025	2025 (Q3)	- / 0.05	0.022	106.67% (+0.02)
Jul 29, 2025	2025 (Q2)	- / 0.08	0.06	30.00% (+0.02)
Apr 28, 2025	2025 (Q1)	- / 0.04	0.037	8.00% (<+0.01)
Mar 25, 2025	2024 (Q4)	- / -0.01	-0.039	73.08% (+0.03)
Oct 29, 2024	2024 (Q3)	0.06 / 0.02	0.052	-57.14% (-0.03)
Jul 30, 2024	2024 (Q2)	0.04 / 0.06	0.031	90.48% (+0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed