NGG - National Grid Non-GAAP EPS of 61.4p revenue of £18.45B

National Grid press release (NYSE:NGG): FY Non-GAAP EPS of 61.4p. Revenue of £18.45B (+35.0% Y/Y). Guidance includes WPD, assumes that the sale of the Narragansett Electric Company (Rhode Island) completes in Q1 of FY2022/23 and the sale of a 60% stake in National Grid Gas completes in the third quarter of this financial year. Financial outlook over the five year period 2020/21 to 2025/26 remains unchanged: Total cumulative capex of £30-£35 billion; Asset Growth CAGR2 of 6-8% backed by strong balance sheet; Driving underlying EPS CAGR of 5-7% from the 2020/21 EPS baseline of 54.2 pence per share ; Credit metrics consistent with current Group rating; Regulatory gearing to settle slightly above 70% once all three transactions are completed. Following strong earnings growth in the first full year of the plan, we expect earnings for 2022/23 to be broadly flat on 2021/22, assuming an exchange rate of £1:$1.30.

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National Grid Non-GAAP EPS of 61.4p, revenue of £18.45B