EarningsQ2 2026 Earnings Report
MX:ES Q2 2026 EPS Results
Actual EPS$14.75
Consensus EPS$14.80
Beat/MissMissed by -$0.05
One Year Ago EPS$16.28
MX:ES Q2 2026 Revenue Results
Actual Revenue$49.22B
Expected Revenue$50.68B
Beat/MissMissed by -$1.45B
YoY Revenue Growth+2.29%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:ES Upcoming Earnings
Eversource Energy's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ES Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed meaningful progress on strategic priorities — notably the $1.7B Aquarion sale, improved credit outlook, strong FFO-to-debt metrics, high completion status of Revolution Wind, and advancement of transmission and storm-cost recovery initiatives — which materially strengthen the balance sheet and growth runway. At the same time, the quarter included sizable non-cash GAAP charges, a year-over-year decline in recurring EPS (~9.4%), continued regulatory headwinds from FERC's reduced transmission ROE and refund exposure, denial of carrying charges for CT storm costs, and cost/recovery uncertainty around AMI. Overall, the positives around balance-sheet repair, secured proceeds, regulatory progress on storm securitization, and project execution outweigh the near-term earnings and regulatory setbacks, but several material regulatory risks remain and will influence near-term cash flow and earnings visibility.Company Guidance
Recurring Earnings in Line with Expectations
Second-quarter recurring (non-GAAP) EPS of $0.87, reaffirming long-term EPS growth guidance of 5%–7%. Company also reaffirmed 2026 non-GAAP EPS guidance range of $4.52–$4.72.
Strategic Portfolio Simplification — Aquarion Sale
Completed sale of Aquarion on June 30, generating net proceeds of $1.7 billion to strengthen the balance sheet and displace parent debt; no equity issuance expected for the remainder of 2026 and 5-year equity needs remain $800M–$1.1B.
Credit and Balance Sheet Improvements
Moody's upgraded outlook from negative to stable. FFO-to-debt ratios as of June 30, 2026 are strong (14.3% and 15.7% metrics reported) and sit more than 100 basis points above downgrade thresholds.
Revolution Wind Nearing Completion
Offshore wind project is over 95% complete and remains on track for commercial operation later this year (COD expected in 2026). Management emphasized remaining installation is straightforward.
Progress on Transmission Opportunities
ISO New England preliminarily selected Eversource/Avangrid joint proposal as preferred solution to increase capacity between Maine and New Hampshire. Project cost $2.2B, Eversource share ~ $700M with anticipated in-service date of 2032; company indicated ~50% of Eversource share likely falls into the current 5-year forecast window.
Storm Cost Recovery Path Enabled (Connecticut)
PURA issued final storm cost decision approving approximately $870M of ~ $975M requested; roughly $200M already recovered in rates and about $670M expected to be securitized. Company will move ahead with securitization financing process (filing financing plan in early fall and targeting cash-in-door about one year after approvals).
Operational and Reliability Improvements in Connecticut
Since 2017, invested over $4 billion in distribution infrastructure serving 1.3M customers. Average customer experiences ~1 outage nearly every 2 years (a 15% improvement since 2017). Automated technology estimated to have avoided >1.5M customer outages in 2025; estimated-time-of-restoration accuracy improved 14% since 2017.
Regulatory Filings to Support Future Growth
Filed CL&P rate case seeking a $451M revenue deficiency with proposed ROE of 10.25% and proposed bill impact of ~11% (90% of the deficiency tied to capital, resiliency, depreciation and taxes; only 11% from O&M). Filing also proposes multi-year PBR and includes an AMI proposal for Connecticut (~$1B capital and ~$300M O&M) intended to deliver customer benefits over time.
MX:ES Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed