Analyst Consensus ?
ConsensusHold5 ratings
Bullish00.0%
Neutral5100.0%
Bearish00.0%
Korea Electric Power Corporation · KEP · FY2025 Q1 · Calendar Q2 2025
KEP: Lower fuel costs helped, but demand and grid limits remain risks
The quarter supports a measured view: lower fuel costs, higher electricity sales and planned nuclear utilization are constructive, but the reported non-operating boost was dividend-driven and management expects modestly lower full-year electricity sales. Demand, transmission capacity, fuel prices and regulation remain central to the outlook.
Reported Before market openNYSEUtilities
$14.34B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus —
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $17.72B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.8%
Event window
SPY move
+0.7%
Same window
Abnormal move
-4.4%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
+13.2%
Up to 20 sessions
KEPSPY benchmark
Ask FN2 about KEP FY2025 Q1
Transcript, numbers and history already loaded
What drove KEP's -3.8% move after FY2025 Q1 earnings?What changed in KEP's guidance and outlook in FY2025 Q1?Give me the bull and bear case for KEP after FY2025 Q1 earnings.
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Transcript intelligence
What changed
The current analysis highlights a KRW1.7 trillion subsidiary dividend in non-operating profit, plans for 2025–2026 HVDC connections to ease east-coast constraints, and 2025 fuel-price forecasts. It also points to modest borrowing growth and a slight expected decline in full-year electricity sales.
Guidance delta
Maintained; management projected a modest full-year electricity-sales decline.
Key takeaways
- Revenue and operating profit grew modestly on higher electricity sales and lower fuel costs.
- A KRW1.7 trillion subsidiary dividend materially boosted non-operating profit.
- Management expects higher nuclear utilization, while coal generation faces transmission and environmental constraints.
- Borrowing rose slightly to KRW133.2 trillion, while interest expense decreased.
- Full-year electricity sales are projected to decline modestly because of weaker industrial demand.
Management priorities
- Increase nuclear generation utilization.
- Develop HVDC connections for Shin Hanul and related plants in 2025–2026.
- Advance the 11th basic electricity supply and demand plan, including transmission and distribution investment.
- Extend mandatory purchase periods for direct power purchases.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Bank of America | Neutral | Underperform | Upgrade | Nov 21, 2016 |
| B of A Securities | Neutral | Underperform | Upgrade | Nov 21, 2016 |
| UBS | Neutral | Buy | Downgrade | Oct 24, 2016 |
| Morgan Stanley | Equal Weight | Overweight | Downgrade | Jun 21, 2016 |
| Credit Suisse | Neutral | Outperform | Downgrade | May 12, 2014 |
Track every rating change on KEP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKorea 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 earningsLatest beats and misses
Who reports nextBeat on EPS
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- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-05-09T04:23:48.171159+00:00
- Polygon adjusted daily market bars · 2026-10-06T21:40:42.103026+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 2026-10-06. For educational purposes only; not investment advice.