Pennon Group PLC Depositary Receipt (PEGRY)
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Pennon Group Plc (PEGRY) Q2 2026 Earnings Call Transcript
Pennon Group Plc (OTCPK:PEGRY) Q2 2026 Earnings Call November 27, 2025 3:00 AM EST Company Participants Susan Davy Laura Flowerdew - CFO & Director Sarah Heald - Chief Strategy, Regulatory Affairs & Investor Relations Officer Conference Call Participants Sarah Lester - Morgan Stanley, Research Division Julius Nickelsen - BofA Securities, Research Division James Brand - Deutsche Bank AG, Research Division Mark Freshney - UBS Investment Bank, Research Division Laura Marconi - Barclays Bank PLC, Research Division Jenny Ping - Citigroup Inc., Research Division Presentation Susan Davy Good morning, everyone. I'm Susan Davy, CEO of Pennon Group.
Pennon returns to profit but cuts interim dividend after rights issue
Pennon Group PLC (LSE:PNN, OTC:PEGRY) shares rose 3% to 544.5p as the water company reported a return to profit for the first half of 2025/26, but the results were not as strong as some analysts expected. The owner of South West Water and Bristol Water also cut its interim dividend by nearly a quarter to 9.26p per share, citing timing mechanics following last year's rights issue.
Citi calls time on Pennon's rally
After an eight-month climb that has lifted Pennon Group PLC (LSE:PNN, OTC:PEGRY) shares by nearly 30%, Citi thinks it is time for a breather. The broker has cut the South West Water owner to neutral, arguing that the stock's recovery and falling gilt yields have already done most of the heavy lifting.
Pennon delivers strong rebound with cleaner water record
Pennon Group PLC (LSE:PNN, OTC:PEGRY) has reported a strong start to its 2026 financial year, with profitability returning and EBITDA expected to increase by about 60% year on year. In a trading statement, the water utility company said it remains on track to deliver its 7% rate of return on equity (RORE) target, supported by efficient financing and programme efficiencies.
Pennon Group Plc (PEGRF) Q4 2025 Earnings Call Transcript
Pennon Group Plc (OTCPK:PEGRF) Q4 2025 Results Conference Call June 3, 2025 4:00 AM ET Company Participants Susan Davy - Chief Executive Officer Laura Flowerdew - Chief Financial Officer Conference Call Participants Dominic Nash - Barclays Sarah Lester - Morgan Stanley Mark Freshney - UBS Jenny Ping - Citi Susan Davy Okay. I think that's everybody in.
Ofwat tells water companies: Build faster and smarter
Britain's water companies have been told to pick up the pace. In a strongly worded letter to industry bosses, Ofwat chief executive David Black urged firms to speed up construction of major infrastructure such as reservoirs and to find smarter ways to get projects completed earlier and more efficiently.
Pennon gets target upgrade after bagging £490mln from shareholders
Pennon Group PLC has seen its share price target upgraded by Citi analysts after completing a £490 million rights issue. Funding cleared a “material overhang,” Citi said in a note, including after Pennon backed proposals from regulator Ofwat allowing it to raise bills by 23% over the coming five years.
Thames Water appeals regulator's price rise cap
Thames Water has taken its battle with regulator Ofwat to the next level by appealing to the Competition and Markets Authority over how much it can charge customers. The UK's largest water supplier had sought approval to raise bills by up to 53% by 2030, but Ofwat capped the increase at 35%.
Pennon bags upgrade as RBC flags return of water sector certainty
Pennon Group PLC has been granted an upgrade by RBC analysts on signs of growing regulatory certainty and stronger earnings across the sector ahead. Return on retained earnings was forecast to average 8% to 9% among listed names over the coming AMP8 regulatory period from 2025 and 2030, analysts said in a note.
Pennon taps shareholders for £490m as water bills go up
South West Water owner Pennon Group PLC (LSE:PNN, OTC:PEGRY) is tapping shareholders for £490 million in additional cash while at the same time raising bills and promising to pay out more in dividends. Pennon also said it had agreed to a new five-year price regime laid down by regulator Ofwat last year that will see £3.2 billion invested in infrastructure to improve South West's dire record on sewage spillages.
Water shares celebrate as Ofwat eases back on price controls
Shares in the listed water companies were among the few risers on a tough day for London's blue chips as investors decided they had got off lightly in Ofwat's final price and investment determinations for the next five years. Pennon Group PLC (LSE:PNN, OTC:PEGRY), the owner of South West Water, was up 3.3%, Severn Trent by 1.8% and United Utilities by 1.1%.
Water companies expect easing of prices and returns from Ofwat
UK water companies will hear from the industry regulator next Thursday, 19 December, what level of pricing and returns they will be allowed for the next five years. Investors will first look for the levels of allowed returns, with Ofwat's draft determination in July proposing an allowed cost of debt of 2.8%, an allowed cost of equity of 4.8%, and an overall weighted average cost of capital (WACC) of 3.7%.
