Hydro One posts Q2 profit of $370 million as revenue rises to $2.30 billion
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Hydro One reported higher Q2 net income and revenue year over year, driven by Ontario Energy Board-approved rate increases and stronger peak demand, indicating stable regulated utility fundamentals. The CEO transition in June appears orderly. As a single-company earnings update with limited cross-asset transmission, the broader market impact is likely modest, mainly informing risk sentiment toward regulated utilities rather than macro conditions.
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Hydro One reported second-quarter net income attributable to common shareholders of $370 million, or 62 cents per diluted share, for the quarter ended June 30, up from $327 million, or 54 cents, a year earlier. Revenue rose to $2.30 billion from $2.07 billion in the second quarter of 2025. The utility said the increase in diluted earnings per share was largely driven by higher revenue from Ontario Energy Board-approved rates and stronger peak demand. In June, Megan Telford became chief executive after former CEO David Lebeter retired.
