Investing.com -- SSE plc (LON: SSE ) on Wednesday said it expects adjusted earnings per share for 2024/25 to be between 155 and 160 pence, supported by a 17% increase in renewables output, as the company continues its £3 billion investment push under its NZAP Plus plan.

The company’s renewables generation for the year is anticipated to be around 13 terawatt-hours, approximately 17% higher than the previous year.

SSE attributes this growth to capacity additions and variable weather conditions, which influenced output in the final months of the fiscal year.

The regulated networks business has reported continued strong operational performance, with earnings expectations for other business units remaining unchanged.

SSE has also maintained its investment strategy, with around £3 billion in capital expenditure expected for the year, aligned with its NZAP Plus investment plan.

The company’s financial position remains stable, with adjusted net debt and hybrid capital expected to be around £10 billion as of March 31.

For fiscal year 2026/27, SSE reaffirmed its target for adjusted earnings per share of 175 to 200 pence.

Analysts at RBC Capital Markets noted that the updated EPS guidance narrows the previous range of 154-163 pence per share, bringing the midpoint down by 1p to 157.5p.

"We sit slightly below that number at 156.4p for FY25, whilst capex of £3bn and net debt of ~£10bn align with our current forecasts," RBC said.

They also pointed out that Bloomberg consensus, which estimates EPS at 159.8p per share, is at the top end of SSE’s revised guidance range.