Canadian Utilities Future Growth

Future criteria checks 3/6

Canadian Utilities is forecast to grow earnings and revenue by 17.8% and 6.4% per annum respectively. EPS is expected to grow by 17.2% per annum. Return on equity is forecast to be 12.2% in 3 years.

Key information

17.8%

Earnings growth rate

17.19%

EPS growth rate

Integrated Utilities earnings growth	10.8%
Revenue growth rate	6.4%
Future return on equity	12.18%
Analyst coverage	Low
Last updated	26 Jun 2025

Recent future growth updates

No updates

Recent updates

Risks To Shareholder Returns Are Elevated At These Prices For Canadian Utilities Limited (TSE:CU)

Feb 22

Canadian Utilities (TSE:CU) Will Pay A Larger Dividend Than Last Year At CA$0.4577

Feb 03

Canadian Utilities' (TSE:CU) Shareholders Will Receive A Bigger Dividend Than Last Year

Jan 17

Be Wary Of Canadian Utilities (TSE:CU) And Its Returns On Capital

Jan 09

Canadian Utilities (TSE:CU) Has Affirmed Its Dividend Of CA$0.4531

Oct 22

Is Canadian Utilities (TSE:CU) A Risky Investment?

Oct 14

Investor Optimism Abounds Canadian Utilities Limited (TSE:CU) But Growth Is Lacking

Sep 23

Canadian Utilities (TSE:CU) Will Be Hoping To Turn Its Returns On Capital Around

Aug 19

Canadian Utilities (TSE:CU) Will Pay A Dividend Of CA$0.4531

Jul 22

Earnings and Revenue Growth Forecasts

TSX:CU - Analysts future estimates and past financials data (CAD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2027	4,499	735	404	2,474	2
12/31/2026	4,225	682	320	2,328	3
12/31/2025	4,061	647	310	2,217	3
3/31/2025	3,736	397	374	2,052	N/A
12/31/2024	3,742	403	322	1,917	N/A
9/30/2024	3,735	424	431	1,859	N/A
6/30/2024	3,737	537	505	1,850	N/A
3/31/2024	3,756	580	388	1,742	N/A
12/31/2023	3,796	630	441	1,780	N/A
9/30/2023	3,929	589	522	1,921	N/A
6/30/2023	4,015	573	449	1,891	N/A
3/31/2023	4,069	621	635	2,041	N/A
12/31/2022	4,048	557	771	2,140	N/A
9/30/2022	3,969	592	784	2,042	N/A
6/30/2022	3,861	558	849	1,982	N/A
3/31/2022	3,718	413	586	1,846	N/A
12/31/2021	3,515	328	497	1,718	N/A
9/30/2021	3,368	255	496	1,628	N/A
6/30/2021	3,305	274	510	1,603	N/A
3/31/2021	3,255	341	793	1,653	N/A
12/31/2020	3,233	360	741	1,631	N/A
9/30/2020	3,281	407	536	1,549	N/A
6/30/2020	3,439	600	560	1,658	N/A
3/31/2020	3,601	827	383	1,532	N/A
12/31/2019	3,905	884	246	1,358	N/A
9/30/2019	4,011	989	283	1,352	N/A
6/30/2019	4,116	907	87	1,134	N/A
3/31/2019	4,181	605	-201	896	N/A
12/31/2018	4,377	567	N/A	870	N/A
9/30/2018	4,550	413	N/A	822	N/A
6/30/2018	4,490	306	N/A	843	N/A
3/31/2018	4,465	398	N/A	1,051	N/A
12/31/2017	4,085	447	N/A	1,312	N/A
9/30/2017	3,891	541	N/A	1,488	N/A
6/30/2017	3,739	570	N/A	1,641	N/A
3/31/2017	3,553	588	N/A	1,742	N/A
12/31/2016	3,399	552	N/A	1,622	N/A
9/30/2016	3,246	402	N/A	1,548	N/A
6/30/2016	3,173	370	N/A	1,601	N/A
3/31/2016	3,197	309	N/A	1,528	N/A
12/31/2015	3,264	296	N/A	1,616	N/A
9/30/2015	3,328	405	N/A	1,526	N/A
6/30/2015	3,425	542	N/A	1,514	N/A
3/31/2015	3,501	614	N/A	1,565	N/A
12/31/2014	3,600	661	N/A	1,540	N/A
9/30/2014	3,580	627	N/A	1,713	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CU's forecast earnings growth (17.8% per year) is above the savings rate (2.5%).

Earnings vs Market: CU's earnings (17.8% per year) are forecast to grow faster than the Canadian market (12.1% per year).

High Growth Earnings: CU's earnings are forecast to grow, but not significantly.

Revenue vs Market: CU's revenue (6.4% per year) is forecast to grow faster than the Canadian market (3.9% per year).

High Growth Revenue: CU's revenue (6.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CU's Return on Equity is forecast to be low in 3 years time (12.2%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/07/15 13:37
End of Day Share Price	2025/07/15 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Canadian Utilities Limited is covered by 14 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ross Fowler	Barclays
Benjamin Pham	BMO Capital Markets Equity Research
Robert Hastings	Canaccord Genuity

Canadian Utilities Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Recent updates

Canadian Utilities Limited Declares Quarterly Cash Dividend, Payable on 01 September, 2025

Does Canadian Utilities (TSE:CU) Have A Healthy Balance Sheet?

CAD 58 Billion Investment Will Expand Alberta Energy Infrastructure

Returns On Capital At Canadian Utilities (TSE:CU) Paint A Concerning Picture

Canadian Utilities Limited Announces the Appointment of Bob Myles as Chief Executive Officer, Effective May 8, 2025

First quarter 2025 earnings released: EPS: CA$0.80 (vs CA$0.82 in 1Q 2024)

Canadian Utilities (TSE:CU) Is Due To Pay A Dividend Of CA$0.4577

Fourth quarter dividend of CA$0.46 announced

Canadian Utilities Limited announces Quarterly dividend, payable on June 01, 2025

Canadian Utilities Limited to Report Q1, 2025 Results on May 07, 2025

Canadian Utilities (TSE:CU) Use Of Debt Could Be Considered Risky

New minor risk - Profit margin trend

Full year 2024 earnings released: EPS: CA$1.48 (vs CA$2.33 in FY 2023)

Risks To Shareholder Returns Are Elevated At These Prices For Canadian Utilities Limited (TSE:CU)

Canadian Utilities Limited, Annual General Meeting, May 08, 2025

Canadian Utilities (TSE:CU) Will Pay A Larger Dividend Than Last Year At CA$0.4577

Canadian Utilities Limited to Report Fiscal Year 2024 Results on Feb 27, 2025

Upcoming dividend of CA$0.46 per share

Canadian Utilities' (TSE:CU) Shareholders Will Receive A Bigger Dividend Than Last Year

Third quarter dividend increased to CA$0.46

Canadian Utilities Limited Declares First Quarter Dividend on Class A Non-Voting and Class B Common Shares, Payable on March 1, 2025

Be Wary Of Canadian Utilities (TSE:CU) And Its Returns On Capital

Canadian Utilities Limited Appoints Jennifer Westacott Ao to Its Board of Directors

Third quarter 2024 earnings released: CA$0.03 loss per share (vs CA$0.39 profit in 3Q 2023)

Upcoming dividend of CA$0.45 per share

Canadian Utilities (TSE:CU) Has Affirmed Its Dividend Of CA$0.4531

Second quarter dividend of CA$0.45 announced

Is Canadian Utilities (TSE:CU) A Risky Investment?

Canadian Utilities Limited Declares Quarterly Dividends, Payable on 01 December 2024

Investor Optimism Abounds Canadian Utilities Limited (TSE:CU) But Growth Is Lacking

Canadian Utilities (TSE:CU) Will Be Hoping To Turn Its Returns On Capital Around

Second quarter 2024 earnings released: EPS: CA$0.16 (vs CA$0.32 in 2Q 2023)

Upcoming dividend of CA$0.45 per share

Canadian Utilities (TSE:CU) Will Pay A Dividend Of CA$0.4531

First quarter dividend of CA$0.45 announced

Canadian Utilities Limited to Report Q2, 2024 Results on Aug 02, 2024

New major risk - Revenue and earnings growth

ATCO Energy Systems Announces Its Largest Ever Energy Infrastructure Project: Yellowhead Mainline to Drive Economic Growth in Alberta

First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Upcoming dividend of CA$0.45 per share

New major risk - Revenue and earnings growth

Fourth quarter dividend of CA$0.45 announced

Canadian Utilities Limited Declares Quarterly Dividends on Class A Non-Voting and Class B Common, Payable on June 1, 2024

Canadian Utilities Limited to Report Q1, 2024 Results on May 02, 2024

Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Canadian Utilities Limited to Report Fiscal Year 2023 Results on Feb 29, 2024

Canadian Utilities Limited, Annual General Meeting, May 08, 2024

Upcoming dividend of CA$0.45 per share at 5.7% yield

Canadian Utilities Limited Announces the Retirement of Executive Vice President, Brian P. Shkrobot, Effective March 1, 2024

Canadian Utilities Limited Declares First Quarter Dividend, Payable on March 1, 2024

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Upcoming dividend of CA$0.45 per share at 6.2% yield

Canadian Utilities Limited to Report Q3, 2023 Results on Oct 26, 2023

Canadian Utilities Limited Declares Quarterly Dividend on Class A Non-Voting and Class B Common Share, Payable on December 01, 2023

Independent Director recently bought CA$611k worth of stock

New minor risk - Dividend sustainability

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Upcoming dividend of CA$0.45 per share at 5.2% yield

Canadian Utilities Limited Declares Quarterly Dividend on Class A Non-Voting and Class B Common Share, Payable on September 01, 2023

Canadian Utilities Limited to Report Q2, 2023 Results on Jul 27, 2023

Canadian Utilities Limited(TSX:CU) dropped from FTSE All-World Index (USD)

Canadian Utilities Limited Announces Executive Changes

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of CA$0.45 per share at 4.5% yield

Full year 2022 earnings: EPS misses analyst expectations

Canadian Utilities Limited to Report Fiscal Year 2022 Results on Mar 02, 2023

Upcoming dividend of CA$0.45 per share at 4.7% yield

Canadian Utilities Limited Declares First Quarter Dividend on Class A Non-Voting and Class B Common Share, Payable on March 1, 2023

Canadian Utilities Limited (TSX:CU) acquired Portfolio of Wind and Solar Assets and Projects Located in Alberta and Ontario from Suncor Energy Inc. (TSX:SU) for approximately CAD 710 million.

High number of new directors

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Upcoming dividend of CA$0.44 per share

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts