Eversource Energy Stock Earnings Reports

Eversource reported a strong operational quarter highlighted by successful storm response and restorations during a severe February blizzard, demonstrating the benefits of recent infrastructure investments. Q1 GAAP EPS were $1.61 and non-GAAP EPS (ex-FERC charge) were $1.73. Management disclosed an after-tax charge of $43.9 million ($0.12/sh) related to FERC’s March 19, 2026 ROE decision, and revised 2026 non-GAAP EPS guidance to $4.57–$4.72 (the change largely driven by the lower 9.57% base transmission ROE and Aquarion sale assumptions). The company is pursuing multiple legal and regulatory remedies (stay, rehearing, court filings, and a Section 205 filing proposing an 11.39% ROE using updated data) and expects potential implementation of a new rate on a subject-to-refund basis later this year. Key near-term items that could derisk the balance sheet: closing of the Aquarion sale (waiting for appeal window to expire mid-June), Revolution Wind COD in H2 2026, and anticipated securitization of storm costs in Connecticut and New Hampshire (combined ~ $2 billion) within 12–18 months. Financing progress includes a successful junior subordinated notes issuance (~$1.5B) and an outlined equity need of $800M–$1.1B through 2030, subject to timing and transaction outcomes. The five-year capital plan remains $26.5B through 2030, capex pacing is on track, and credit metrics and ratings remain stable. Management reaffirmed long-term EPS growth target of 5%–7% (from midpoint of revised 2026 guidance) and emphasized balancing reliability investments with customer affordability.