10-QPeriod: Q2 FY2025

EVERSOURCE ENERGY Quarterly Report for Q2 Ended Jun 30, 2025

Filed August 4, 2025For Securities:ES

Summary

Eversource Energy's (ES) 10-Q filing for the period ending June 30, 2025, indicates stability in its market risk management practices. The company has effectively managed commodity price risk through regulated cost pass-through mechanisms for its customers, meaning these risks do not directly impact future earnings or fair values for the regulated entities. Similarly, interest rate risk is significantly mitigated as all long-term debt as of June 30, 2025, was at a fixed interest rate. Credit risk is actively managed through established practices and monitoring, with collateral in place for certain high-volume contracts. The company also posted cash with ISO-NE for energy transactions. Importantly, the filing states there have been no material changes or new risks identified compared to the disclosures in their 2024 Form 10-K, suggesting a consistent and well-managed risk profile.

Financial Highlights

46 data points
Beta

Revenue

$2.83B

Net Income

$354.61M

12.5% Net Margin

EPS (Diluted)

$0.96

Total Assets

$60.96B

Cash & Equivalents

$343.69M

Free Cash Flow

$15.29M

Financial Statements
Beta
Revenue$2.83B
Operating Expenses$2.18B
Operating Income$663.05M
Net Income$354.61M
EPS (Basic)$0.96
EPS (Diluted)$0.96
Shares Outstanding (Basic)368.66M
Shares Outstanding (Diluted)368.92M

Key Highlights

  • 1Regulated entities have no exposure to commodity price risk impacting future earnings or fair values due to cost pass-through mechanisms.
  • 2Interest rate risk is substantially mitigated with 100% of long-term debt at fixed interest rates as of June 30, 2025.
  • 3Credit risk is managed through established practices, with $19.0 million in collateral held from counterparties and $14.8 million in cash posted with ISO-NE.
  • 4No new material risks or changes to previously disclosed risk factors have been identified compared to the 2024 10-K.
  • 5Disclosure controls and procedures for Eversource and its subsidiaries were deemed effective by management.
  • 6No changes in internal controls over financial reporting materially affecting controls were noted during the quarter.
  • 7The company repurchased a small number of shares (2,920) in April and June, primarily related to 401k plan matching contributions.

Frequently Asked Questions

For its regulated companies, Eversource manages commodity price risk by entering into energy contracts, the economic impacts of which are passed on to customers. This mechanism prevents these risks from affecting the regulated companies' future earnings or fair values.

Eversource's exposure to interest rate risk is significantly reduced because it typically finances its operations with fixed-rate debt. As of June 30, 2025, all of its outstanding long-term debt was at a fixed interest rate, minimizing the impact of interest rate fluctuations.

Based on this filing, the company states there have been no additional risk factors identified and no material changes with regard to the risk factors previously disclosed in its 2024 Form 10-K. This suggests a continuity in the company's risk profile.

Eversource manages credit risk through established practices and monitoring of counterparties. As of June 30, 2025, the company held $19.0 million in collateral (letters of credit or cash) from counterparties related to standard service contracts and had $14.8 million in cash posted with ISO-NE for energy transactions.