National Grid Pre-Close Update: On Track for FY Results

TL;DR

National Grid confirms it's hitting its numbers for the fiscal year, results coming soon.

AI Summary

National Grid plc issued a pre-close update on April 18, 2024, ahead of its 2023/24 full-year results. The company is on track to deliver its financial targets for the year, with performance expected to be in line with guidance. Specific financial figures for the full year will be disclosed in the upcoming results announcement.

Why It Matters

This update signals that National Grid is meeting its financial expectations, providing investors with confidence ahead of the full-year earnings report.

Risk Assessment

Risk Level: low — The filing is a routine pre-close update confirming the company is on track to meet its financial guidance, indicating no unexpected negative developments.

Key Players & Entities

• NATIONAL GRID PLC (company) — Filer of the report
• April 18, 2024 (date) — Date of the filing and update
• 2023/24 (period) — Fiscal year for which results are being updated

FAQ

Filing Documents

• a0500l.htm (6-K) — 33KB
• 0001654954-24-004754.txt ( ) — 35KB

From the Filing

UPDATE AHEAD OF 2023/24 FULL YR RESULTS a0500l         UNITED STATES   SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549     FORM 6-K     REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Date: 18 April 2024   Commission File Number: 001-14958       NATIONAL GRID plc   (Translation of registrant’s name into English)   England and Wales   (Jurisdiction of Incorporation)        1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office)       Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   ☒   Form 20-F       ☐   Form 40-F   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ☐   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ☐   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.   ☐   Yes     ☒   No   If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a                     EXHIBIT INDEX   Exhibit No. Description 99.1 Exhibit 99.1 Announcement sent to the London Stock Exchange on 18 April 2024 — Pre-Close Update ahead of 2023/24 Full Yr Results     Exhibit 99.1   18 April 2024   National Grid plc   Pre-Close Update ahead of 2023/24 Full Year Results     National Grid today issues a pre-close update ahead of announcing results for the year ended 31 March 2024 on 23 May 2024.   We now expect Underlying EPS for 2023/24 to be in line with the prior year, at actual exchange rates and before the reporting change noted below.   In the 2023 Spring budget, the UK Government introduced 'full expensing' tax relief for qualifying capital expenditure to encourage greater levels of investment from businesses. This change became permanent in November 2023.   To represent underlying profitability more accurately, and to align with UK peers, we will now report Underlying Earnings and Underlying EPS excluding the impact of deferred tax in our UK Electricity Transmission and Distribution businesses.   This reporting change will be reflected in our 2023/24 Full Year results, which will lead to an expected increase to Underlying EPS of around 8 pence per share.   Further details will be provided in our 2023/24 Full Year results, and a note on the change to our definition of Underlying Earnings and Underlying EPS can be found on the Investors section of our website   here ¹ .     Enquiries and   contacts   Investors and Analysts:   Nick Ashworth                                    +44 (0) 7814 355 590 Angela Broad                                      +44 (0) 7825 351 918 James Flanagan                                    +44 (0) 7970 778 952   Media:   Dan Roberts, Brunswick                      +44 (0) 207 404 5959 Lyndsey Evans                                     +44 (0) 7714 672 052   [1]   https://www.nationalgrid.com/investors/resources/analyst-modelling     CAUTIONARY STATEMENT     This announcement contains certain statements that are neither reported financial results nor other historical information. These Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These Company) f

View Full Filing

View this 6-K filing on SEC EDGAR