National Grid Performance In Line with Expectations Ahead of Half-Year Results

National Grid plc (LON: NG.) has released a pre-close update for the six months ended September 30, 2025, indicating that its performance is in line with expectations.

The group is set to announce its half-year results on November 6, 2025. The company anticipates underlying earnings per share (EPS) to be weighted towards the second half of the fiscal year, a typical pattern for the utility giant.

Operating profit for the first half is also expected to mirror historical trends. National Grid’s UK Electricity Transmission and UK Electricity Distribution divisions anticipate a broadly even split of operating profit across the year.

The firm highlighted that the first half of fiscal year 2025 includes the contribution from the Electricity System Operator, which was divested on October 1, 2024.

The company’s U.S.-regulated businesses anticipate operating profits to be more heavily weighted towards the second half of the year.

However, compared to the same period last year, the New York business experienced fewer storms, and the New England business benefited from new electricity distribution rates. As a result, both businesses are expected to contribute slightly more to operating profit in the first half relative to the previous year’s profile.

National Grid Ventures expects a roughly even weighting of profitability throughout the year. This diversified segment contributes steadily to the overall financial health of the group.