EarningsQ2 2026 Earnings Report

United Utilities (UUN) Q2 2026 Earnings Report

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Previous Report: Q4 2025

Next Report: Q4 2026

MX:UUN Q2 2026 EPS Results

Actual EPS$12.67

Consensus EPS$13.00

Beat/MissMissed by -$0.34

One Year Ago EPS$6.43

MX:UUN Q2 2026 Revenue Results

Actual Revenue$31.41B

Expected Revenue$31.30B

Beat/MissBeat by +$112.57M

YoY Revenue Growth+21.00%

Earnings Announcement Details

QuarterQ2 2026

Date11/13/2025

TimeBefore Open

Conference CallThursday, November 13, 2025

MX:UUN Upcoming Earnings

United Utilities's next earnings date is estimated for November 12, 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 13, 2025|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call reflects a balanced outlook for United Utilities, with strong operational achievements and a stable financial position. However, challenges with regulatory ratings and the need for a national social tariff to address affordability were highlighted. The company is proactive in addressing these challenges and exploring growth opportunities through innovation and strategic engagements.

Company Guidance

In the recent call, United Utilities provided detailed guidance on their fiscal '26 interim results, highlighting several key metrics and future expectations. The company emphasized ongoing conversations with regulators about reopeners in AMP8 and potential growth opportunities, particularly in areas like asset health and data centers. They expect the upcoming white paper to bring recommendations for regulatory changes, with a focus on investor-friendly measures and a strategic policy statement for Ofwat and the EA. The firm is actively managing affordability, having doubled the number of customers on support schemes, and anticipates potential legislative developments like a national social tariff. Financially, United Utilities maintains a strong balance sheet with a net debt to RCV gearing of 60%, well within their 55% to 65% range, and they are confident in their funding for AMP8, despite uncertainties linked to possible reopeners. They also discussed the potential environmental super cycle and the implications of PFAS and housebuilding on future investments, while reaffirming their commitment to transformation projects to manage totex delivery effectively. The company guided for 100 basis points of outperformance, with a focus on financing, ODIs, and PCDs, and while they expect a net penalty in ODIs this year, they are confident in achieving a net reward position over the AMP period. Overall, United Utilities conveyed a positive outlook, emphasizing their preparedness for future regulatory and environmental challenges.

Strong Cash Performance

United Utilities reported a strong cash performance despite increased bills, doubling the number of customers on affordability schemes and maintaining cash flow.

Leakage Reduction Success

The company achieved a leakage benefit this year alone that was larger than what was delivered in the last AMP, showcasing significant operational improvement.

Strong Balance Sheet

United Utilities reported a net debt to RCV gearing of 60%, comfortably within their 55% to 65% range, and highlighted flexibility with a Moody's Baa1 threshold at 68%.

Proactive Engagement with Regulators

The company is actively engaging with regulators on growth opportunities and new legislation, particularly with asset health improvements and environmental strategies.

Data Center Opportunities

United Utilities identified opportunities in supporting data centers, including innovative engineering solutions for water supply and storm water usage.

MX:UUN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 12, 2026	2027 (Q2)	11.52 / -	12.667	―
Apr 30, 2026	2026 (Q4)	12.67 / 13.00	5.47	137.72% (+7.53)
Nov 13, 2025	2026 (Q2)	13.00 / 12.67	6.43	97.01% (+6.24)
May 15, 2025	2025 (Q4)	5.33 / 5.47	0.36	1420.00% (+5.11)
Nov 14, 2024	2025 (Q2)	6.72 / 6.43	3.167	103.03% (+3.26)
May 16, 2024	2024 (Q4)	6.00 / 0.36	0.12	200.00% (+0.24)
Nov 16, 2023	2024 (Q2)	3.48 / 3.17	-0.432	833.33% (+3.60)
May 25, 2023	2023 (Q4)	-0.26 / 0.12	6.55	-98.17% (-6.43)
Nov 23, 2022	2023 (Q2)	-0.29 / -0.43	6.813	-106.34% (-7.25)
May 26, 2022	2022 (Q4)	4.65 / 6.55	7.365	-11.07% (-0.82)

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