Eversource Q2 net income falls sharply on charges; backs FY outlook

Eversource Energy

30/07/2026 21:29

Overview
US energy delivery firm's preliminary Q2 net income fell sharply
Q2 earnings impacted by charges from Aquarion sale and offshore wind contingent liability
Company reaffirmed 2026 non-GAAP recurring EPS guidance

Outlook
Eversource reaffirms 2026 non-GAAP recurring EPS guidance of $4.57 to $4.72
Company maintains long-term EPS growth rate target of 5-7% through 2030
Eversource expects annual earnings growth toward upper half of guidance by 2028

Result Drivers
AQUARION SALE AND OFFSHORE WIND CHARGES - Q2 earnings were impacted by charges related to the sale of Aquarion Water Company and increased offshore wind contingent liability
TRANSMISSION SEGMENT PRESSURE - Lower transmission segment earnings reflected a regulatory reduction in allowed ROE and higher interest expense, partially offset by continued investment
BASE RATE INCREASES - Improved electric and gas distribution results were driven by higher revenues from base distribution rate increases and continued investment, partially offset by higher costs

Company press release: ID:nGNXbQ3CLS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.14
 
Q2 Net Income Attributable
 
$53.7 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy."
Wall Street's median 12-month price target for Eversource Energy is $75.50, about 1% above its July 29 closing price of $74.76
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)