Analyst Consensus ?
ConsensusHold5 ratings
Bullish00.0%
Neutral5100.0%
Bearish00.0%
Korea Electric Power Corporation · KEP · FY2025 Q4 · Calendar Q1 2026
KEPCO: Lower fuel costs aid earnings as nuclear and tariff plans advance
KEPCO's near-term earnings benefited from lower fuel costs, and higher nuclear utilization could support generation in 2026. The longer-term case depends on execution of nuclear and pricing initiatives while the company manages provisions, regulation, dividend constraints, and litigation.
Reported Before market openNYSEUtilities
$14.14B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.71
Consensus $0.78
EPS surprise
-8.7%
Reported versus consensus
Reported revenue
$15.89B
Consensus $16.06B
Revenue surprise
-1.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.7%
Event window
SPY move
-0.6%
Same window
Abnormal move
-2.1%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
-32.4%
Up to 20 sessions
KEPSPY benchmark
Ask FN2 about KEP FY2025 Q4
Transcript, numbers and history already loaded
Why did KEP fall 2.7% after missing EPS estimates in FY2025 Q4?What changed in KEP's guidance and outlook in FY2025 Q4?Give me the bull and bear case for KEP after FY2025 Q4 earnings.
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Transcript intelligence
What changed
The current analysis shifts the emphasis toward lower fuel costs, higher expected nuclear utilization in 2026, and concrete development of new pricing schemes. It also highlights materially higher nuclear site recovery provisions and continued dividend, borrowing, coal-cost, and litigation concerns.
Guidance delta
Guidance sentiment was maintained; the analysis does not identify a quantified change to guidance.
Key takeaways
- Revenue and operating income grew year over year, helped by lower fuel costs, while other costs rose on nuclear site recovery and greenhouse-gas provisions.
- Management expects a higher nuclear capacity factor and additional units online in 2026, supporting generation.
- KEPCO is developing seasonal and regional pricing schemes and continuing nuclear export initiatives, with regulatory and litigation risks outstanding.
Management priorities
- Increase nuclear capacity factor and bring additional units online in 2026.
- Develop seasonal, time-based, and regional electricity pricing schemes with the government.
- Advance nuclear export initiatives and maintain quarterly fuel-cost pass-through in tariffs.
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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 |
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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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- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-09-28T14:28:39.882397+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 2026-09-28. For educational purposes only; not investment advice.