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SSE – Q1 trading in line with expectations

SSE reported a jump in renewable energy output, helped by more favourable weather conditions. Equity Analyst Aarin Chiekrie shares the latest.
SSE - guidance intact despite renewables output behind plan

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Prices delayed by at least 15 minutes

SSE’s first-quarter trading statement revealed that performance is moving along in line with group expectations.

Renewables output in the period was up 60% year-on-year, reflecting the benefit of more normalised weather conditions and increased capacity coming online.

CEO Barry O’Regan said that the group remains “on track” to meet 2027 growth targets, which call for underlying earnings per share (EPS) to grow from 158.5p to between 175-200p.

The shares were broadly flat following the announcement.

Our view

HL view to follow.

SSE key facts

All ratios are sourced from Refinitiv, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.

This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment.No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.Non - independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place(including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing.Please see our full non - independent research disclosure for more information.
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Written by
Aarin Chiekrie
Aarin Chiekrie
Equity Analyst

Aarin is a member of the Equity Research team. Alongside our other analysts, he provides regular research and analysis on individual companies and wider sectors. Having a keen interest in global economics, he knows how macro-events can impact individual companies.

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Article history
Published: 18th July 2024