01—Abstract
Summary
Summary of the 10-Q filed November 6, 2026. Cited figures are marked; the original filing is the authoritative source.
Eversource Energy reported a net income of $346.0 milliona ($0.92 per share) for the third quarter of 2026, a decrease from $367.5 million ($0.99 per share) in the same quarter of 2025.
For the nine months ended September 30, 2026, net income was $1.01 billionb ($2.67 per share), down from $1.28 billion ($3.44 per share) in the comparable 2025 period. These results were impacted by significant non-recurring charges, including a $111.4 million after-tax loss from the sale of the Aquarion water distribution business and a $164.0 million after-tax charge related to an increase in the offshore wind contingent liability. Excluding these and other charges, non-GAAP earnings for the nine-month period were $1.33 billion ($3.52 per share).
Operationally, the company continues to invest heavily in its regulated utility infrastructure, with capital expenditures for property, plant, and equipment totaling $3.05 billionc for the first nine months of 2026. The company has narrowed its 2026 non-GAAP recurring earnings guidance to a range of $4.62 to $4.70 per share. Liquidity remains strong, supported by operating cash flows of $3.07 billion for the first nine months of 2026 and substantial available borrowing capacity under its credit facilities.
02—Key points
Key Highlights
- Eversource Energy's Q3 2026 net income was $346.0 million ($0.92/share), down from $367.5 million ($0.99/share) in Q3 2025.
- Nine-month 2026 net income was $1.01 billion ($2.67/share), down from $1.28 billion ($3.44/share) in the prior year period.
- Significant non-recurring charges impacted earnings, including a $111.4 million after-tax loss on the sale of Aquarion and a $164.0 million after-tax charge related to the offshore wind contingent liability.
- Excluding special charges, non-GAAP earnings for the first nine months of 2026 were $1.33 billion ($3.52/share).
- Capital expenditures for property, plant, and equipment were $3.05 billion for the first nine months of 2026.
- The company narrowed its 2026 non-GAAP recurring earnings guidance to $4.62 - $4.70 per share.
- Strong liquidity maintained with $525.4 million in cash and cash equivalents as of September 30, 2026, and $2.65 billion in available borrowing capacity.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed November 6, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $3.10B$3.23B | −4.0% |
| Operating Expenses | $2.35B$2.53B | −7.2% |
| Operating Income | $629.74M$688.68M | −8.6% |
| Net Income | $347.89M$369.43M | −5.8% |
| EPS (Basic) | $0.92$0.99 | −7.1% |
| EPS (Diluted) | $0.92$0.99 | −7.1% |
| Shares Outstanding (Basic) | 377.06M371.91M | +1.4% |
| Shares Outstanding (Diluted) | 377.66M372.26M | +1.4% |
05—Questions
Frequently Asked Questions
What were the primary drivers behind the decrease in net income for the nine months ended September 30, 2026, compared to the same period in 2025?
The decrease in net income was primarily due to significant non-recurring charges. These included an after-tax loss of $111.4 million from the sale of the Aquarion water distribution business and an after-tax charge of $164.0 million related to an increase in the offshore wind contingent liability. Additionally, a charge of $43.9 million related to the FERC ROE refund decision impacted net income.
How is Eversource Energy managing its liquidity and capital needs?
Eversource Energy maintains strong liquidity with $525.4 million in cash and cash equivalents as of September 30, 2026. The company also has access to a significant $2.65 billion in available borrowing capacity under its commercial paper programs and credit facilities. For the first nine months of 2026, cash flows provided by operating activities were $3.07 billion, and capital expenditures for property, plant, and equipment were $3.05 billion, indicating sufficient resources to fund ongoing operations and investments.
What is the expected impact of the FERC ROE decision on Eversource's future financial performance?
The FERC's March 19, 2026 decision on the ROE complaint lowered the allowed ROE from 10.57% to 9.57%. This is expected to reduce Eversource's future annual after-tax earnings by approximately $70 million, based on 2025 rate base, before considering potential adjustments from new rate filings. The company has recorded a regulatory liability of $63.0 million representing the low end of its estimated refund exposure and is appealing the decision, but acknowledges that the ultimate impact could be significantly higher and could materially affect its financial condition and results of operations.
Has Eversource Energy completed the sale of its water distribution business, Aquarion?
Yes, Eversource Energy completed the sale of Aquarion on June 30, 2026, for approximately $2.4 billion. This transaction resulted in a non-cash, after-tax charge of $111.4 million in the second quarter of 2026 and removed the Water Distribution segment from its reportable segments.
06—Continue