Eversource second-quarter profit slumps on Aquarion sale, offshore wind charges

Eversource Energy

30/07/2026 21:51

July 30 (Reuters) - Eversource Energy ES.N posted a fall in second-quarter profit on Thursday, as the electric utility was weighed down by charges tied to the Aquarion sale, offshore wind liabilities and lower returns on New England transmission assets.
Last quarter, the company said its annual earnings would be hit by the Federal Energy Regulatory Commission's decision to lower rates for electricity in New England.
Regulated utilities like Eversource have been filing requests to increase rates, citing a need for spending on infrastructure as the country's electrical grids face extreme weather and growing demand from industry electrification and data center expansion.
For the second quarter, the company's net income plunged 84.7% to $53.7 million
Results included an $111.4 million after-tax non-cash charge related to Aquarion's sale and a $164 million charge from higher expected payments to Global Infrastructure Partners connected with the 2024 sale of its South Fork Wind and Revolution Wind projects.
Operations and maintenance costs came in at $480 million, up 2.7% from a year earlier.
The company reaffirmed its 2026 per-share adjusted earnings forecast of $4.57 to $4.72.

 (Reporting by Pranav  Mathur in Bengaluru; Editing by Sriraj Kalluvila)
 ((Pranav.Mathur@thomsonreuters.com;))