Hydro One reported quarterly earnings per share of C$0.68, just below the C$0.70 estimate. The miss ends a run of three straight comparable-quarter beats. Still, the utility’s shares remain above their 50- and 200-day moving averages.
Hydro One Ltd. (TSX: H) reported earnings before market open on November 10 for the quarter ended September 30, 2026. EPS was C$0.68, 2.9% below the calendar estimate of C$0.70. The company had beaten estimates in each of the previous three comparable quarters, including C$0.62 against C$0.57 in the June quarter. Revenue and margin figures for the latest quarter weren’t provided, so EPS is the clearest measure available in this update. See the Hydro One stock page for company details and related analysis.
Recent earnings trend
Hydro One Ltd
H.TO
H.TO
Hydro One Ltd
WealthAwesomeMarket cap
$34.61B
P/E
24.4x
Div. yield
2.34%
Div. / share
$1.35
52W high
$60.17
52W low
$50.14
1W change
+2.15%
Beta
0.42
Analyst Price Targets
Based on analyst covering H · as of Oct 30, 2026
Wall Street analysts forecast H stock price to fall 0.9% over the next 12 months.
Consensus
NeutralBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$56.60
-0.9% Upside
Previously C$56.52 on Oct 16, 2026
Current Price
C$57.09
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on H's historical volatility
30-Day Vol
15.6%
Annualized
90-Day Vol
17.0%
Annualized
Trend (90d)
+7.5%
Annualized drift
90d Mean
C$58.64
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$57.60 | C$54.59 – C$60.79 |
| 60 trading days | C$58.12 | C$53.86 – C$62.72 |
| 90 trading days | C$58.64 | C$53.42 – C$64.37 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 9 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-10 | 0.6800 | 0.7000 | -2.9% |
| 2026-06-30 | 2026-08-12 | 0.6200 | 0.5700 | +8.8% |
| 2026-03-31 | 2026-05-13 | 0.6500 | 0.6400 | +1.6% |
| 2025-12-31 | 2026-02-13 | 0.3900 | 0.3700 | +5.4% |
| 2025-09-30 | 2025-11-13 | 0.7000 | 0.6600 | +6.1% |
| 2025-06-30 | 2025-08-13 | 0.5400 | 0.5200 | +3.8% |
Investor takeaway: The EPS miss was small, but it breaks Hydro One’s recent pattern. The company beat estimates in three of its last four reported quarters. For Canadian investors, the longer-term question is whether earnings growth can support the company’s regulated, capital-intensive electricity network and its valuation. The supplied figures show a P/E of 24.4, a profit margin of 14.87% and a dividend yield of 2.34%. These figures offer context, but don’t determine whether the shares are attractive.
C$0.68 EPS, versus C$0.70 estimated
Hydro One missed the calendar estimate by C$0.02, or 2.86%. It had beaten estimates in each of the previous three comparable quarters. In the latest of those quarters, EPS was C$0.62 against an estimate of C$0.57. The supplied earnings history covers 44 quarters of actual and estimated EPS.
Bull case
Hydro One’s regulated utility business and ongoing grid investment can support steady operations. The latest EPS miss was small in percentage terms. Shares closed at C$57.09, above the 50-day moving average of C$52.73 and the 200-day average of C$56.27. Based on the supplied market data, the stock was also up 12.43% over the past month.
Bear case
Hydro One fell short of the C$0.70 estimate. The supplied calendar data also show year-ago EPS of C$0.70, pointing to a modest decline from that comparison. Shares are near their 52-week high of C$60.17, while the average analyst target of C$56.60 is slightly below the latest close. A premium valuation leaves less room for disappointment if earnings don’t keep pace with expectations.
Analysis
Hydro One reported EPS of C$0.68 for the fiscal quarter ended September 30, 2.86% below the C$0.70 calendar estimate. This ends a run of three consecutive comparable-quarter beats: EPS was C$0.62 against C$0.57 in June, C$0.65 against C$0.64 in March, and C$0.39 against C$0.37 in December 2025. The supplied earnings history includes 44 quarters of actual and estimated EPS. Revenue and margin figures for this report weren’t provided, so they can’t be assessed here. The automatically inserted earnings trend table and chart show the quarter-by-quarter results.
Analysis
The supplied analyst data show an average target of C$56.60, compared with the latest close of C$57.09. That implies 0.9% downside to the average target. The consensus label is Neutral, based on the average target compared with the last close. A formal rating wasn’t available for this Canadian listing. See the analyst ratings section for details.
Analysis
Wealth Awesome’s statistical 90-day model gives a mean forecast of C$58.64. Its 68% range is C$53.42 to C$64.37, and its 95% range is C$48.67 to C$70.66. The model’s 30-, 60- and 90-day mean forecasts are C$57.60, C$58.12 and C$58.64. This is a statistical model, not financial advice or a price target. See the price prediction section for more.
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