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United Utilities FY adjusted EPS seen in line with previous guidance
(Sharecast News) - Water supply firm United Utilities said on Wednesday that full-year underlying earnings per share were expected to be in line with previous guidance of roughly 100p. However, United Utilities also said it was implementing a change in the estimation technique used to measure inflation‑linked debt as part of an effort to reduce volatility in its income statement.
The FTSE 100-listed firm expects the accounting change to lead to a reduction in underlying net finance expenses of approximately £35m and an increase in underlying EPS of around 5p. Underlying operating cost guidance remained unchanged.
United Utilities noted that as part of its financial risk management framework, it was continuing to benefit from its "disciplined and prudent" energy hedging. Looking beyond 2025/26, United Utilities said its electricity hedging levels remaine above policy minimums, reflecting "proactive execution during the benign market conditions" experienced in the third and fourth quarters.
"We are fully hedged for Summer 2026 and over 90% hedged for Winter 2026/27. In addition, the regulatory true‑up mechanism introduced for AMP8 provides further protection against any potential future commodity price movements," added United Utilities.
As of 0820 GMT, United Utilities shares were up 2.20% at 1,280p.
Reporting by Iain Gilbert at Sharecast.com
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