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Mercury NZ Ltd. (MGHTF)
OTHER OTC:MGHTF
Earnings Data
Report Date
Aug 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.03Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operational and financial half with record EBITDAF (+28%), excellent cash conversion and multiple on-time, on-budget project milestones (geothermal commissioning, wind construction, hydro FID). Management emphasised disciplined capital allocation, conservative guidance and balance-sheet guardrails (debt-to-EBITDA 2.2x). Key challenges highlighted were accounting-driven NPAT volatility from derivatives, hydrology sensitivity (including >400 GWh spill), consent and timing risks for some pipeline projects, and supply-chain/long-lead concerns for large hydro upgrades. On balance, the positive momentum, robust cash generation and targeted investments to secure long-term capacity outweigh the identifiable risks, which management is actively mitigating.Company Guidance
Record EBITDAF and Strong Cash Conversion
Reported EBITDAF of $537 million, up 28% on the prior comparable period, with operating cash flow of $531 million. Management emphasized high quality earnings and strong conversion of earnings to cash.
Resilient Generation and Volume Growth
Generation volumes increased by 0.5 TWh in the half; hydro inflows were at the 85th percentile driving strong hydro generation (record generation in July). Hydro acted as the flexibility engine, supporting earnings and cash.
Disciplined Cost Control and OpEx Progress
OpEx down materially versus prior year; guidance maintained at $370 million for FY26 (down from $396m FY25). OpEx per connection fell 4% versus the prior calendar period and 16% below HY2024, driven by people savings, timing of maintenance and lower consulting spend.
On-time, On-budget Project Delivery
Ngatamariki OEC5 geothermal (50 MW) commissioned in January 2026 on time and on budget. Two wind projects (Kaiwera Downs 2 and Kaiwaikawe) are under construction and tracking to deliver on time and on budget, together providing power equivalent to ~140,000 homes.
Major Hydro Investment FID to Protect Long-term Capacity
Board approved final investment decision (FID) for $590 million to upgrade three hydro stations (Maraetai I, Ohakuri, Atiamuri) adding +76 MW capacity and ~87 GWh/year, with construction and works phased over the next decade to protect asset resilience.
Balanced Investment and Strong Balance Sheet Management
Net debt increased modestly by $60 million to $2.243 billion while funding growth: approximately 50% of EBITDAF was reinvested. Debt-to-EBITDA at 2.2x (within target 2–3x), undrawn facilities of $465 million and proactive refinancing plans for a $200 million green bond.
Customer Growth and Improved Unit Economics
Multiproduct customers now ~40% (2+ products). Connections increased by ~30,000. Fibre customers exceed 150,000 and broadband penetration >94% of the base. Management reports improving unit economics via multiproduct pricing and lower cost-to-serve.
Clear FY26 Guidance and Progressive Dividend
Full-year guidance unchanged: EBITDAF $1.0 billion (based on 4.4 TWh hydro), OpEx $370 million, stay-in-business CapEx $150 million, dividend guidance $0.25. Interim dividend declared $0.10, up 4%.
Pipeline Growth and Development Capability
Generation pipeline expanded by ~2 TWh with a target of 3.5 TWh by 2030. Geothermal and wind development capabilities rebuilt (8-well drilling program completed); management expects further geothermal projects (targeting one pre-2030) and staged BESS development to firm renewables.
Safety and People Progress
Total recordable injury frequency rate (TRIFR) for the calendar year at 0.39, with ongoing improvements in health, safety and well-being programs and recent senior executive hires to strengthen customer, sustainability and people functions.
MGHTF 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
MGHTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $3.96 | $3.96 | 0.00% |
Aug 18, 2025 | $3.71 | $3.71 | 0.00% |
Feb 24, 2025 | $3.65 | $3.65 | 0.00% |
Aug 19, 2024 | $3.62 | $3.62 | 0.00% |
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 Mercury NZ Ltd. (MGHTF) report earnings?
Mercury NZ Ltd. (MGHTF) is schdueled to report earning on Aug 24, 2026, Before Open (Confirmed).
What is Mercury NZ Ltd. (MGHTF) earnings time?
Mercury NZ Ltd. (MGHTF) earnings time is at Aug 24, 2026, Before Open (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 MGHTF EPS forecast?
Currently, no data Available