Jun 2026 (Q2 FY26) — Jul 31, 2026
Eversource Energy Q2 FY26 — Strategic Focus and Balance Sheet Strengthening
Read the full callEversource Energy (ES) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Eversource Energy earnings: last reported Fri, 31 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,903 | +2.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 18.6 | −4.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
4 of 5 judged targets kept · 9 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Aquarion Water Company sale closing | close by end of 2025 | Jun 2024 | we have closed on the sale of Aquarion on June 30, generating a net cash benefit to Eversource of $1.7 billion | Delayed |
| Full-year 2026 non-GAAP recurring EPS | $4.80 to $4.95 | Dec 2025 | We reaffirm our non-GAAP EPS guidance range of $4.57 to $4.72 per share for 2026. | On Track |
| FFO to debt ratio (S&P) | 14% to 15% | Jun 2024 | Our latest metrics are 14.2% and 14.5% for S&P and Moody's, respectively. | Achieved |
1 of EVERSOURCE ENERGY's 14 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 11 more targets are in the full ledger.
Claimed
- Delivered Q2 recurring EPS of $0.87, in line with expectations, and reaffirmed long-term EPS growth guidance of 5% to 7%.
- Completed the sale of Aquarion, generating $1.7 billion in net proceeds to strengthen the balance sheet and focus on core operations.
- Moody's upgraded outlook from negative to stable, reflecting strong financial execution and commitment to balance sheet sustainability.
- ISO New England preliminarily selected Eversource and Avangrid's joint proposal for a $2.2 billion transmission project, with Eversource's share at $700 million.
- Received final storm cost decision from PURA, approving $870 million for recovery, with $670 million expected to be securitized.
Qualified
- Recognized an after-tax charge of $164 million ($0.43/share) related to increased estimated offshore wind contingent liability for Revolution Wind.
- GAAP earnings impacted by a noncash after-tax charge of $111.4 million ($0.30/share) related to the carrying value of Aquarion.
- Lower recurring earnings YoY primarily due to lower earnings in electric transmission (FERC ROE reduction) and gas distribution segments.
- PURA denied recovery of carrying charges for storm costs, which Eversource is evaluating options for.
- CL&P rate case filing proposes an 11% impact on total customer bills, a potentially challenging ask in an election year.
Price
$64.48 −3.55% · −$2.37
Performance −11.1% 1Y
1Y: $72.56 on 17 Oct 2025 → $64.48. High $76.21 (27 Feb 2026), low $63.28 (28 Sept 2026).
- Previous close
- $66.85
- 52-week range
- $63.28 – $76.21
- One year
- −11.49%
Overview
- Symbol
- ES
- Sector
- Utilities
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
4 of 5 judged targets kept · 9 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Aquarion Water Company sale closing | close by end of 2025 | Jun 2024 | we have closed on the sale of Aquarion on June 30, generating a net cash benefit to Eversource of $1.7 billion | Delayed |
| Full-year 2026 non-GAAP recurring EPS | $4.80 to $4.95 | Dec 2025 | We reaffirm our non-GAAP EPS guidance range of $4.57 to $4.72 per share for 2026. | On Track |
| FFO to debt ratio (S&P) | 14% to 15% | Jun 2024 | Our latest metrics are 14.2% and 14.5% for S&P and Moody's, respectively. | Achieved |
Claimed
- Delivered Q2 recurring EPS of $0.87, in line with expectations, and reaffirmed long-term EPS growth guidance of 5% to 7%.
- Completed the sale of Aquarion, generating $1.7 billion in net proceeds to strengthen the balance sheet and focus on core operations.
- Moody's upgraded outlook from negative to stable, reflecting strong financial execution and commitment to balance sheet sustainability.
- ISO New England preliminarily selected Eversource and Avangrid's joint proposal for a $2.2 billion transmission project, with Eversource's share at $700 million.
- Received final storm cost decision from PURA, approving $870 million for recovery, with $670 million expected to be securitized.
Qualified
- Recognized an after-tax charge of $164 million ($0.43/share) related to increased estimated offshore wind contingent liability for Revolution Wind.
- GAAP earnings impacted by a noncash after-tax charge of $111.4 million ($0.30/share) related to the carrying value of Aquarion.
- Lower recurring earnings YoY primarily due to lower earnings in electric transmission (FERC ROE reduction) and gas distribution segments.
- PURA denied recovery of carrying charges for storm costs, which Eversource is evaluating options for.
- CL&P rate case filing proposes an 11% impact on total customer bills, a potentially challenging ask in an election year.
The full ledger
Open EVERSOURCE ENERGY’s full ledger
A free account opens 5 company ledgers a month. All 14 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Eversource Energy Q1 FY26 — FERC transmission ROE cut drives guidance revision amid balance-sheet derisking
Read the full callDec 2025 (Q4 FY25) — Feb 13, 2026
Eversource Energy Q4 FY25 — Strong Operational Performance and Strategic Clarity
Read the full callEvery analysed call
Eversource Energy earnings calls (ES)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,063 | 2,971 | 4,118 | 2,838 | 3,221 | 3,370 | 4,504 | 2,903 |
| Operating profit | 612 | 348 | 926 | 663 | 689 | 710 | 1,076 | 541 |
| Operating margin | 20.0% | 11.7% | 22.5% | 23.4% | 21.4% | 21.1% | 23.9% | 18.6% |
| Other income | 113 | 92 | 92 | 95 | 86 | 105 | 101 | 144 |
| Interest | 301 | 289 | 301 | 293 | 318 | 331 | 365 | 355 |
| EPS ($ per share) | -0.33 | — | 1.50 | 0.96 | 0.99 | — | 1.61 | 0.14 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1,669 | 1,729 | 1,789 | 1,789 | — | — | — | — |
| Reserves | 3,954 | 4,177 | 4,613 | 5,005 | 5,527 | 4,143 | 3,929 | 4,505 |
| Total liabilities | 26,754 | 28,494 | 32,036 | 33,892 | 37,758 | 41,438 | 44,555 | 47,589 |
| Total assets | 38,241 | 41,124 | 46,100 | 48,492 | 53,231 | 55,612 | 59,595 | 63,787 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,831 | 2,010 | 1,683 | 1,963 | 2,401 | 1,646 | 2,160 | 4,114 |
| Cash from investing | -2,437 | -3,274 | -4,129 | -3,447 | -4,130 | -4,871 | -4,536 | -4,306 |
| Cash from financing | 730 | 1,172 | 2,595 | 1,441 | 2,030 | 2,869 | 2,337 | 312 |
| Net cash flow | 123 | -92 | 148 | -44 | 301 | -355 | -39 | 119 |
| Capital expenditure | -2,570 | -2,911 | -2,943 | -3,175 | -3,442 | -4,337 | -4,481 | -4,159 |
| Free cash flow | -739 | -902 | -1,260 | -1,212 | -1,041 | -2,691 | -2,321 | -45 |
ES revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Eversource Electric Distribution | 86% | 74% | 67% | 76% | 84% | 70% | 65% | 73% | +1.3% |
| Eversource Electric Transmission | 19% | 16% | 15% | 21% | 18% | 21% | 13% | 19% | -3.1% |
| Natural Gas Distribution | 7% | 19% | 28% | 16% | 8% | 22% | 30% | 18% | +15.5% |
| Eversource Water | — | — | — | — | 2% | — | 1% | 2% | — |
| Water Distribution | 2% | 2% | 1% | 2% | 2% | 2% | 1% | 2% | +1.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ES operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Jun 2025 Q2 FY25 | Dec 2025 Q4 FY25 | Change vs prior quarter |
|---|---|---|---|---|
| Employees | 10K+I want to extend my sincere thanks to our dedicated team of over 10,000 employees and our union partners for their unwavering support.Source: earnings call transcript | 10K+This quarter wasn't just about performance, it was about our over 10,000 employees working together every day to keep the lights on and provide superior customer service.Source: earnings call transcript | <11KThis recognition is a reflection on the hard work and dedication of nearly 11,000 Eversource employees who do the right thing every day, and I want to sincerely thank them for that.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
62 filings between Nov 6, 2025 and Aug 25, 2026.
Open market
decisions to buy or sellPurchases
$49.9K
1 purchase by 1 insider
Sales
$3.98M
14 sales by 8 insiders
Compensation
not trading decisions- 32
- Award — granted as compensation
- 9
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts, 1 code i.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Kim John Y | — | $1.35M | Feb 23, 2026 |
| BUTLER GREGORY B | — | $854.6K | Jun 4, 2026 |
| Moreira John M. | — | $576.4K | Feb 19, 2026 |
| Conner Penelope M | — | $318.9K | Aug 25, 2026 |
| Hunt James W III | — | $300.5K | Nov 7, 2025 |
| CLEVELAND COTTON M | — | $193.2K | Feb 24, 2026 |
| Williams Frederica M | — | $189.2K | Feb 17, 2026 |
| FORRY LINDA DORCENA | — | $188.6K | Feb 18, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 25, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Sale | 1,500 | $107.3K |
| Aug 24, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Sale | 1,500 | $106.6K |
| Jun 4, 2026 | BUTLER GREGORY B Executive VP & General Counsel | Sale | 7,000 | $489.2K |
| May 14, 2026 | BUTH JAY S. VP, Controller, Chief Acct Off | Code I | 407 | $28.0K |
| May 8, 2026 | Mudge W Robert Insider | Purchase | 750 | $49.9K |
| Mar 6, 2026 | NOLAN JOSEPH R JR Chairman of the Bd, Pres & CEO | Gift | 94,981 | $0 |
| Mar 4, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Sale | 1,400 | $105.0K |
| Feb 24, 2026 | CLEVELAND COTTON M Insider | Sale | 2,581 | $193.2K |
| Feb 23, 2026 | Kim John Y Insider | Sale | 6,339 | $472.2K |
| Feb 20, 2026 | Kim John Y Insider | Sale | 6,000 | $441.3K |
| Feb 19, 2026 | Kim John Y Insider | Award | 3,339 | $0 |
| Feb 19, 2026 | Moreira John M. EVP, CFO and Treasurer | Sale | 7,800 | $576.4K |
| Feb 19, 2026 | Kim John Y Insider | Sale | 6,000 | $441.4K |
| Feb 18, 2026 | FORRY LINDA DORCENA Insider | Sale | 1,600 | $116.9K |
| Feb 18, 2026 | FORRY LINDA DORCENA Insider | Sale | 981 | $71.7K |
| Feb 17, 2026 | Williams Frederica M Insider | Sale | 2,581 | $189.2K |
| Feb 12, 2026 | NOLAN JOSEPH R JR Chairman of the Bd, Pres & CEO | Tax withheld | 40,084 | $2.81M |
| Feb 12, 2026 | Moreira John M. EVP, CFO and Treasurer | Tax withheld | 5,105 | $358.5K |
| Feb 12, 2026 | Hunt James W III EVP-Corp Rel & Sustainability | Tax withheld | 4,489 | $315.2K |
| Feb 12, 2026 | Sgroi Susan EVP, HR and IT | Tax withheld | 837 | $58.8K |
| Feb 12, 2026 | BUTH JAY S. VP, Controller, Chief Acct Off | Tax withheld | 335 | $23.5K |
| Feb 12, 2026 | CHODAK PAUL III EVP and COO | Tax withheld | 5,886 | $413.3K |
| Feb 12, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Tax withheld | 1,890 | $132.7K |
| Feb 12, 2026 | BUTLER GREGORY B Executive VP & General Counsel | Tax withheld | 4,789 | $336.3K |
| Jan 27, 2026 | NOLAN JOSEPH R JR Chairman of the Bd, Pres & CEO | Award | 35,282 | $0 |
| Jan 27, 2026 | Moreira John M. EVP, CFO and Treasurer | Award | 8,426 | $0 |
| Jan 27, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Award | 2,954 | $0 |
| Jan 27, 2026 | Hunt James W III EVP-Corp Rel & Sustainability | Award | 3,506 | $0 |
| Jan 27, 2026 | CHODAK PAUL III EVP and COO | Award | 5,522 | $0 |
| Jan 27, 2026 | BUTLER GREGORY B Executive VP & General Counsel | Award | 5,991 | $0 |
| Jan 27, 2026 | BUTH JAY S. VP, Controller, Chief Acct Off | Award | 1,311 | $0 |
| Jan 27, 2026 | NOLAN JOSEPH R JR Chairman of the Bd, Pres & CEO | Award | 36,089 | $0 |
| Jan 27, 2026 | NOLAN JOSEPH R JR Chairman of the Bd, Pres & CEO | Award | 39,686 | $0 |
| Jan 27, 2026 | Hunt James W III EVP-Corp Rel & Sustainability | Award | 4,349 | $0 |
| Jan 27, 2026 | Moreira John M. EVP, CFO and Treasurer | Award | 8,932 | $0 |
| Jan 27, 2026 | Hunt James W III EVP-Corp Rel & Sustainability | Award | 3,944 | $0 |
| Jan 27, 2026 | BUTH JAY S. VP, Controller, Chief Acct Off | Award | 1,475 | $0 |
| Jan 27, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Award | 3,322 | $0 |
| Jan 27, 2026 | Conner Penelope M EVP-Cust Exp & Energy Strategy | Award | 3,194 | $0 |
| Jan 27, 2026 | CHODAK PAUL III EVP and COO | Award | 6,067 | $0 |
| Jan 27, 2026 | CHODAK PAUL III EVP and COO | Award | 7,795 | $0 |
| Jan 27, 2026 | Moreira John M. EVP, CFO and Treasurer | Award | 9,478 | $0 |
| Jan 27, 2026 | BUTLER GREGORY B Executive VP & General Counsel | Award | 6,739 | $0 |
| Jan 27, 2026 | BUTLER GREGORY B Executive VP & General Counsel | Award | 5,037 | $0 |
| Jan 27, 2026 | BUTH JAY S. VP, Controller, Chief Acct Off | Award | 1,188 | $0 |
| Jan 27, 2026 | Sgroi Susan EVP, HR and IT | Award | 4,270 | $0 |
| Jan 16, 2026 | Keane Loretta D. Insider | Award | 2,581 | $0 |
| Jan 16, 2026 | Jones Gregory M Insider | Award | 2,581 | $0 |
| Jan 16, 2026 | FORRY LINDA DORCENA Insider | Award | 2,581 | $0 |
| Jan 16, 2026 | CLEVELAND COTTON M Insider | Award | 2,581 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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