EarningsQ2 2026 Earnings Report

Pennon Group plc (PNNN) Q2 2026 Earnings Report

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Previous Report: Q4 2025

Next Report: Q4 2026

MX:PNNN Q2 2026 EPS Results

Actual EPS$3.32

Consensus EPS$3.27

Beat/MissBeat by +$0.05

One Year Ago EPS-$1.24

MX:PNNN Q2 2026 Revenue Results

Actual Revenue$15.70B

Expected Revenue$15.67B

Beat/MissBeat by +$31.35M

YoY Revenue Growth+24.83%

Earnings Announcement Details

QuarterQ2 2026

Date11/27/2025

TimeBefore Open

Conference CallThursday, November 27, 2025

MX:PNNN Upcoming Earnings

Pennon Group plc's next earnings date is estimated for December 1, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

No earnings call audio is available for this earnings event.

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Nov 27, 2025|

% Change Since:

Earnings Call Sentiment|Positive

The earnings call reflects a strong financial and operational performance with significant revenue growth and successful execution of strategic priorities. However, the company faces challenges with network failures and net ODI penalties in the water business. The overall sentiment leans towards optimism due to the positive financial results and operational successes.

Company Guidance

In the call, Pennon Group provided extensive guidance on its performance for fiscal year 2025-2026. The company reported a strong return to profitability, with both underlying and statutory operating profit more than doubling year-on-year, resulting in a profit before tax of GBP 65.9 million. The adjusted earnings per share increased to 14p, covering the interim dividend of 9.26p per share, which reflects a 4.1% increase in line with CPIH. The company's revenues increased by 25% to GBP 658 million, driven by higher tariffs and increased customer consumption, while costs in the Water Group rose by 6%. Despite inflationary pressures, Pennon maintained a strong balance sheet with gearing at 60% and raised GBP 500 million in new debt during the first half of the year. The company continues to focus on delivering its K8 commitments, with GBP 305 million of CapEx already invested in the first half. Pennon is on track to deliver a 7% return on regulated equity, supported by efficient financing and operational improvements. Additionally, the company is targeting net neutral for wastewater ODIs and has achieved a 50% reduction in pollution incidents year-to-date.

Strong Financial Performance

The company reported a strong return to profitability, with operating profit more than doubling and profit before tax moving from a loss to GBP 65.9 million. Adjusted earnings per share increased to 14p from a prior year loss of 5.5p.

Significant Revenue Growth

Revenue increased by 25% year-on-year to GBP 658 million, driven by higher tariffs and increased customer consumption.

Operational Successes

Notable operational achievements include a step change in wastewater performance, a 50% reduction in Category 1-3 pollutions, and storm overflow spills reduced by 45%.

Robust Funding Position

The company raised GBP 500 million in new debt, maintaining a strong balance sheet with gearing at 60%.

Environmental Gains and Innovation

Continued focus on environmental improvements with a 75% reduction in repeat pollutions and investments in biodiversity gains and renewable energy projects.

MX:PNNN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Dec 01, 2026	2027 (Q2)	2.10 / -	3.317	―
Jun 10, 2026	2026 (Q4)	3.22 / 3.53	-0.883	500.00% (+4.41)
Nov 27, 2025	2026 (Q2)	3.27 / 3.32	-1.241	367.31% (+4.56)
Jun 03, 2025	2025 (Q4)	-0.72 / -0.88	-0.764	-15.62% (-0.12)
Nov 27, 2024	2025 (Q2)	-0.72 / -1.24	0.668	-285.71% (-1.91)
May 21, 2024	2024 (Q4)	0.29 / -0.76	0.668	-214.29% (-1.43)
Nov 29, 2023	2024 (Q2)	0.48 / 0.67	1.479	-54.84% (-0.81)
Jun 01, 2023	2023 (Q4)	0.52 / 0.67	3.985	-83.23% (-3.32)
Nov 30, 2022	2023 (Q2)	1.28 / 1.48	5.75	-74.27% (-4.27)
May 31, 2022	2022 (Q4)	3.49 / 3.98	2.696	47.79% (+1.29)

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