Centrica H1 2026 Results and Outlook
Centrica PLC reported first‑half 2026 earnings per share of 6.8 p, surpassing analyst estimates by 11 %. The half‑year EBITDA fell 18 % year‑on‑year to £737 million, which is 4 % below the consensus forecast, while EBIT rose 7 % to £497 million, beating expectations. The earnings beat was attributed mainly to lower depreciation and amortisation expenses rather than operational improvements. Within the business, retail EBITDA exceeded forecasts by 5 %, whereas the Optimisation segment posted earnings 23 % below expectations.
For the full fiscal year 2026, the company raised its infrastructure investment guidance to a range of £650 million‑£750 million, up from the prior £500 million‑£650 million, with a midpoint of £700 million that is broadly in line with analyst expectations of £728 million. Early guidance for the Centrica Energy division for 2027 was set at £200 million‑£250 million, roughly matching the 2026 level and falling short of the analyst consensus of about £300 million, prompting concerns about downside risk.
Centrica proposed an interim dividend of 2.0 p per share, payable on 22 September to shareholders registered as of 21 August. Despite the dividend proposal, the market reacted negatively, and the shares declined 3.3 % following the release, reflecting investor unease over the 2027 earnings outlook for the Energy division. All other company targets were reaffirmed in the interim results announcement.