Proactive Investors - National Grid (LON:NG) reports full-year results on 18 May and JP Morgan (NYSE:JPM) expects the power distributor to report EPS of 69.7p, up 6.8% year-on-year.
Medium-term guidance should be reiterated, adds the US bank, though its forecast stands at the bottom end of the range given a weaker dollar assumption compared to guidance.
Revenue forecasts are also lower as a result of “full expensing” tax relief, "economically and cash neutral but earnings negative".