Korea Electric Power Corporation · KEP · FY2017 Q1 · Calendar Q2 2017

KEPCO faces cost and policy pressure as utilization recovery remains key

The supplied analysis does not support a durable growth conclusion for KEPCO. Near-term earnings were pressured by lower sales and higher costs; recovery depends on nuclear utilization, generation additions, fuel costs, policy, financing, and the UAE project.

Reported Before market openNYSEUtilities $13.65B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.47 Consensus —
EPS surprise — Reported versus consensus
Reported revenue $24470.00B Consensus —
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +2.5% Event window
SPY move +0.8% Same window
Abnormal move +1.7% Stock minus SPY
Volume 2.7× Versus trailing sessions
Subsequent drift -5.1% Up to 20 sessions
KEPSPY benchmark

Ask FN2 about KEP FY2017 Q1

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What drove KEP's +2.5% move after FY2017 Q1 earnings?What changed in KEP's guidance and outlook in FY2017 Q1?Give me the bull and bear case for KEP after FY2017 Q1 earnings.

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Transcript intelligence

What changed

The current quarter was materially weaker than the prior-quarter context: revenue and net income declined, while fuel, depreciation, and maintenance costs rose. Management's discussion shifted toward utilization recovery, major capacity additions, potential borrowing, and project and policy risks.

Guidance delta

No formal guidance was provided in the supplied analysis. Management discussed expected recovery in nuclear utilization and continued additions to the generation fleet.

Key takeaways

  • Q1 revenue and net income declined year over year as power sales and overseas revenue fell.
  • Higher fuel, depreciation and maintenance costs pressured profitability.
  • Management expects nuclear utilization to recover and coal utilization to remain in the mid-80% range.
  • Planned coal and nuclear capacity additions could support operations but may increase borrowing needs.
  • The UAE Barakah project remains delayed, weighing on overseas revenue prospects.

Management priorities

  • Recover nuclear plant utilization
  • Commission planned coal-fired and nuclear capacity
  • Manage the generation mix and IPP integration
  • Address nuclear-plant corrosion and maintenance issues
  • Advance the delayed UAE Barakah project

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Earnings History

Estimate Beat Miss Match
KEP EPS earnings history estimate and actual scatter chart 11 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 actual $0.04, None Q1 '25 actual $1.25, None Q2 '25 estimate $0.60 Q2 '25 actual $0.63, beat Q3 '25 estimate $1.64 Q3 '25 actual $2.11, beat Q4 '25 estimate $0.78 Q4 '25 actual $0.71, miss Q1 '26 estimate $1.27 Q1 '26 actual $1.33, beat Q2 '26 estimate $0.45 Q2 '26 actual $0.15, miss Q3 '26 estimate $0.85 Q3 '26 actual $0.14, miss Q4 '26 estimate $-224.15 Q1 '27 estimate $956.05 Q2 '27 estimate $-468.86 Q3 '27 estimate $948.11
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Analyst Consensus ?

ConsensusHold5 ratings
Bullish00.0%
Neutral5100.0%
Bearish00.0%

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Bank of America Neutral UnderperformUpgradeNov 21, 2016
B of A Securities Neutral UnderperformUpgradeNov 21, 2016
UBS Neutral BuyDowngradeOct 24, 2016
Morgan Stanley Equal Weight OverweightDowngradeJun 21, 2016
Credit Suisse Neutral OutperformDowngradeMay 12, 2014

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Company context

Snapshot as of publication

Korea Electric Power Corporation (KEPCO) functions as a comprehensive electric utility, responsible for the generation, transmission, and distribution of electricity within South Korea and in various international markets. Its operations are organized into key segments: Transmission and Distribution, Nuclear Power Generation, Thermal Power Generation, and a broader 'Others' category. KEPCO boasts a diverse energy portfolio, generating power from a wide array of sources including nuclear, coal, oil, liquefied natural gas (LNG), internal combustion engines, combined-cycle plants, integrated gasification combined cycle (IGCC) facilities, hydroelectric dams, wind and solar farms, fuel cells, biogas, and other emergent technologies. As of December 31, 2021, the company commanded an impressive generation fleet comprising 763 units, encompassing nuclear, thermal, hydroelectric, and internal combustion facilities, collectively boasting an installed capacity of 82,459 megawatts.…

Historical context

All KEP earnings
-3.4%FY2026 Q2 · Calendar Q3 2026-2.7%FY2025 Q4 · Calendar Q1 2026+0.5%FY2025 Q2 · Calendar Q3 2025

Latest beats and misses

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Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
  3. Polygon adjusted daily market bars · 2026-10-18T01:50:41.392150+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.