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Meridian Energy Limited (MDDNF)
OTHER OTC:MDDNF
Earnings Data
Report Date
Sep 02, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-0.07Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive operating and financial performance in H1 FY26: strong operating cash flow, a large uplift in EBITDAF, improved underlying NPAT, reduced net-debt leverage, resumed dividend progression and a substantial near-term growth pipeline. These positives are tempered by meaningful challenges — notably regulated transmission/distribution cost increases driving customer bill inflation, significant spill losses during an exceptionally wet period, some project delays and consenting friction (Te Rere Hau), transitional platform costs, and uncertainty around battery economics and potential sector oversupply. On balance the company demonstrates robust financial health and an actionable growth plan while acknowledging operational and regulatory headwinds.Company Guidance
Strong operating cash flow and EBITDAF
Operating cash flow for H1 FY26 was $336 million and EBITDAF was $506 million. EBITDAF rose 97% versus the prior financial year first half and EBITDAF is $249 million higher than the equivalent period July–December 2024.
Improved underlying profitability
Underlying NPAT of $143 million versus a $5 million loss in the prior first half period. Fair-value hedge movements contributed a $120 million gain before tax in the period (vs a $154 million loss in prior year), helping comparability.
Retail growth and stronger retail margins
Retail sales increased by $133 million (two-thirds driven by volume). Retail sales volumes were up 12% overall and mass market volumes up 16%. Net average price across mass market customers was ~10% higher, contributing $117 million additional revenue.
Higher generation volumes and record wind output
Generation volumes were 892 GWh (14%) higher than the prior July–December period, driven by record wind output and the second-highest hydro inflows on record. Wind farm availability increased from <90% in May 2025 to >92% by December 2025, supporting record first-half wind generation.
Energy margin improvements
Physical energy margin increased by $246 million. Financial energy margin rose by $20 million aided by higher physical generation and active ASX contracting (sold an additional 953 GWh of ASX contracts during the period). Demand response costs declined by $72 million.
Balance sheet and funding strength
Total borrowings $1.9 billion, net debt $1.7 billion. Net debt-to-EBITDAF down to 1.9x from 2.5x in June. Simplified funding with a $1 billion committed syndicated bank facility and issuance of $350 million 6.5-year unsecured green bonds.
Progressive dividend resumed
Interim ordinary dividend increased 4% to $0.0640 per share (from $0.0615), imputed at 85%, with a dividend reinvestment plan applied at a 2% discount to VWAP.
Large growth pipeline and committed investments
Since 2024 Meridian added 542 GWh of new generation and has 702 GWh under construction. The company expects to commit to projects adding ~1,300 GWh over the next 12 months, with constructed/in-construction/consented projects >2,500 GWh (growth >15% when complete). Additional 720 GWh in consenting and ~2,900 GWh expected to enter consenting over 24 months.
CapEx and guidance maintained
H1 CapEx was $86 million (growth CapEx $53 million). Full-year CapEx guidance remains $330–$360 million. Operating guidance (expenses) unchanged at $311–$316 million with the latest forecast at the higher end.
MDDNF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MDDNF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $3.13 | $3.13 | 0.00% |
Aug 26, 2025 | $3.33 | $3.33 | 0.00% |
Feb 25, 2025 | $3.21 | $3.21 | 0.00% |
Aug 27, 2024 | $3.56 | $3.63 | +1.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Meridian Energy Limited (MDDNF) report earnings?
Meridian Energy Limited (MDDNF) is schdueled to report earning on Sep 02, 2026, After Close (Confirmed).
What is Meridian Energy Limited (MDDNF) earnings time?
Meridian Energy Limited (MDDNF) earnings time is at Sep 02, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MDDNF EPS forecast?
Currently, no data Available