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UK's National Grid misses profit view as US storm damages weigh - Finance news and analysis from Global Banking & Finance Review
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UK's National Grid misses profit view as US storm damages weigh

Published by Global Banking & Finance Review

Posted on May 14, 2026

1 min read

· Last updated: May 14, 2026

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National Grid Annual Profit Falls Short Amid US Storm Damage Costs

National Grid Reports Lower-Than-Expected Annual Profit

Financial Performance Overview

May 14 (Reuters) - Britain's National Grid posted annual profit below market expectations on Thursday, pressured by higher costs to repair storm-linked damages across its U.S. business.

Impact of US Storm Damage

Increased Repair Costs

Reporting and Editorial Information

(Reporting by Ankita Bora in Bengaluru; Editing by Sherry Jacob-Phillips)

Key Takeaways

  • Underlying EPS was hit by approximately 1 penny per share due to elevated U.S. storm‑related costs and a customer refund tied to a March 19 FERC ruling on New England Transmission (uk.finance.yahoo.com)
  • Despite the earnings setback, National Grid affirmed its full‑year outlook, with performance consistent with prior half‑year guidance and partly offset by slightly lower finance costs (lse.co.uk)
  • The profit miss underscores growing vulnerabilities in its U.S. regulated business amid severe weather and regulatory developments, even as the company continues a multi‑billion‑pound investment strategy to support growth (uk.finance.yahoo.com)

References

Frequently Asked Questions

Why did National Grid miss its annual profit expectations?
National Grid's annual profit missed expectations due to higher costs related to storm damages in its U.S. operations.
What impacted National Grid's earnings this year?
The company faced increased expenses from repairing storm-linked damages across its U.S. business.
Which region contributed to the increased costs for National Grid?
National Grid's U.S. operations incurred higher repair costs due to storm-related damages.
What date did National Grid report its annual profit?
National Grid reported its annual profit on May 14.

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