Hydro One Ltd

H

Equity

ISIN CA4488112083 / Valor 29777300

Toronto Stock Exchange (2024-12-24)

CAD 44.51+0.72%

Hydro One Ltd
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About company

Hydro One Ltd is Ontario's largest electricity transmission and distribution service provider, serving nearly 1.4 million predominantly rural customers, which accounts for approximately 26% of the total number of customers in Ontario. The company has a long history in the electricity services industry, dating back over 110 years to 1906. In November 2015, Hydro One became a publicly traded company on the Toronto Stock Exchange (H), and has since worked to grow and evolve to meet the changing needs of its customers and communities across Ontario.

Summarized from source with an LLMView SourceSector: Energy

Net Income and Earnings Per Share

Hydro One Ltd reported a net income attributable to common shareholders of $371 million for the third quarter of 2024, an increase from $357 million in the same period of 2023. This resulted in basic earnings per share (EPS) of $0.62, compared to $0.60 in the prior year. The increase in EPS was primarily driven by higher revenues due to Ontario Energy Board-approved rates and increased energy consumption.

Revenue Growth

For the third quarter of 2024, Hydro One Ltd's revenues reached $2,192 million, marking an increase of $258 million compared to the third quarter of 2023. Revenues, net of purchased power, were $1,145 million, up by $65 million from the previous year. This growth was mainly attributed to higher transmission and distribution rates and increased demand.

Capital Investments

During the third quarter of 2024, Hydro One Ltd made capital investments totaling $773 million, compared to $638 million in the same quarter of 2023. The company placed $597 million of new assets in service, reflecting its ongoing commitment to enhancing the reliability and performance of Ontario's electricity infrastructure.

Dividend Declaration

Hydro One Ltd declared a quarterly cash dividend of $0.3142 per share for the third quarter of 2024. This dividend is payable on December 31, 2024, to shareholders of record as of December 11, 2024, demonstrating the company's continued commitment to returning value to its shareholders.

Financing and Sustainable Initiatives

In the third quarter of 2024, Hydro One Ltd's subsidiary, Hydro One Inc., completed an offering of $1.2 billion in Medium-Term Notes under its Sustainable Financing Framework. The proceeds are intended to finance or refinance eligible green projects, aligning with the company's sustainability goals and commitment to environmental responsibility.

Summarized from source with an LLMView Source

Key figures

13.9%1Y

37.7%3Y

78.8%5Y

Performance

12.9%1Y

15.5%3Y

18.9%5Y

Volatility