National Grid ADRs jump as pre-close update confirms guidance ahead of May results
National Grid ADRs jumped after the company reiterated that FY2025/26 performance is tracking guidance ahead of its full-year results on May 14, 2026. The update also quantified a modest ~1p underlying EPS headwind tied to customer refund charges from a March 19, 2026 FERC judgment and higher storm costs.
1. What’s moving the stock
National Grid’s NYSE-listed ADRs (NGG) moved higher as investors reacted to a recent FY2025/26 pre-close update that kept the company on track with previously issued guidance ahead of its full-year results. The company said group performance remains in line with expectations and consistent with guidance given at its half-year results, helping reduce near-term uncertainty into earnings.
2. The key details investors are focused on
In the same update, National Grid flagged a small hit to profitability, estimating a net impact of about 1p per share to underlying EPS. The company attributed the change mainly to customer refund charges related to a March 19, 2026 FERC judgment involving New England Transmission and to slightly higher-than-expected storm costs in its U.S. businesses, partly offset by slightly lower finance costs.
3. What to watch next
National Grid said it will release full-year results for the year ended March 31, 2026 on May 14, 2026, followed by a presentation and Q&A with CEO Zoë Yujnovich and CFO Andy Agg. With the ADRs reacting positively today, the next catalysts are any confirmation of full-year numbers versus guidance, updates on U.S. regulatory items tied to the FERC judgment, and any additional color on storm-cost trends and financing costs.