Energy company SSE has revealed it is expecting a dip in earnings for the 2025/26 financial year, citing a strong operational performance against mixed weather conditions.

The FTSE 100 company has forecast its full-year earnings per share to be between 144p and 152p, which would be down on the 160.9p it reported in the year to 31 March 2025.

Announcing a trading update for Q3 today, SSE said its regulated networks businesses have delivered a 64% increase in investment compared to the first nine months of last year.

The Perth-based company also said it now has several projects of “critical national importance reaching delivery”, as part of a five-year £33bn transformation plan which got underway last year.

“Since announcing our £33bn investment programme to unlock the enormous growth opportunity presented by the transformation of electricity networks, our focus has been on accelerating investment and delivering the plan that will create compounding, long-term earnings and value for investors,” SSE’s chief financial officer, Barry O'Regan, said.

“We are encouraged by recent steps from Government and regulators, which highlight the value of SSE’s integrated business model and will ultimately help deliver a cleaner, secure and more affordable energy system.”

Equity analyst at Hargreaves Lansdown, Aarin Chiekrie, commented that SSE’s £33bn investment plan “shouldn’t be overlooked by investors”.

“Within this, around £27bn of funds are set to be put to work building out its UK network infrastructure,” Chiekrie noted. “Progress is well underway, and that should see networks grow its share of the group’s operating profit from around 40% today to around 60% by the end of the plan.”

He added: “Hopes are high that today’s investments can help drive high-single-digit annual earnings growth over the coming years. Alongside a solid balance sheet and a respectable forward dividend yield of around 3%, SSE looks like a great name if investors are looking to add some defensive growth to their portfolios.”

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