ES 8-K Current Reports
EVERSOURCE ENERGY - 431 current reports
EVERSOURCE ENERGY 8-K Report, Financial Results (Jul 30, 2026)
Eversource Energy (ES) has filed an 8-K report on July 30, 2026, primarily to disclose its unaudited financial results for the second quarter and the first six months ended June 30, 2026. The report includes a news release (Exhibit 99.1) and a related financial report (Exhibit 99.2) detailing these results. Investors should note that this information, while provided, is not officially "filed" with the SEC and is not automatically incorporated into future registration statements unless explicitly stated. Furthermore, the company announced a webcast conference call scheduled for July 31, 2026, to discuss these financial performance updates with analysts. Presentation slides for this call (Exhibit 99.3) are also included with the filing. This provides an immediate opportunity for investors to gain further insights and context directly from Eversource Energy's senior management regarding their recent financial performance and outlook.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jul 1, 2026)
Eversource Energy (ES) has announced the successful completion of the sale of its subsidiary, Aquarion Water Company, for $2.4 billion in cash to the Aquarion Water Authority. The net proceeds of approximately $1.7 billion are earmarked for debt reduction, which is a positive step towards strengthening the company's balance sheet. However, investors should note that the company expects to recognize an after-tax non-cash, non-recurring charge of approximately $115 million, or $0.31 per share, in the second quarter of 2026 as a result of this sale. The company also provided clarification on its use of non-GAAP financial measures, emphasizing that these are used for internal performance evaluation and planning, excluding items like the loss on the sale and a prior FERC decision charge. Management believes these exclusions provide a more meaningful representation of ongoing operational performance and future outlook. Investors are encouraged to review these non-GAAP measures cautiously and in conjunction with GAAP reporting, as they do not represent a direct legal interest in the assets and liabilities of specific businesses.
EVERSOURCE ENERGY 8-K Report, Financial Results (May 6, 2026)
Eversource Energy filed an 8-K on May 6, 2026, primarily announcing its unaudited financial results for the first quarter ended March 31, 2026. This report includes a news release and financial data for the company and its key subsidiaries, providing investors with an update on operational and financial performance. Additionally, the filing details the outcomes of the company's 2026 Annual Meeting of Shareholders, where several key proposals were voted upon by the shareholders. The annual meeting saw the election of all nine nominees to the Board of Trustees for one-year terms. Shareholders also approved, on an advisory basis, the compensation of the Company's Named Executive Officers for 2025 and ratified the selection of Deloitte & Touche LLP as the independent registered public accounting firm for 2026. However, a shareholder proposal requesting an "Independent Board Chairman" was not approved. The company also announced a forthcoming webcast on May 7, 2026, to discuss first-quarter financial performance.
EVERSOURCE ENERGY 8-K Report, Regulation FD Disclosure (Mar 31, 2026)
Eversource Energy (ES) has filed an 8-K detailing its response to a recent Federal Energy Regulatory Commission (FERC) order reducing the authorized return on equity (ROE) for New England transmission owners. The company views this decision, which sets a base ROE of 9.57% and a maximum incentive ROE of 12.09%, as arbitrary and inconsistent with federal law, arguing it uses outdated data and fails to reflect current economic conditions. This reduction is expected to have significant negative impacts on transmission owners and customers by increasing the cost of capital for essential infrastructure upgrades and potentially eroding investor confidence. In response, Eversource is pursuing legal action, including a motion for a stay of the order, and is considering a Section 205 filing to propose updated rates. The company also highlights concerns about potential retroactive refunds, which could be implemented over 18-24 months if upheld. The negative impact on Eversource's 2026 earnings is estimated at approximately $70 million due to the ROE change, leading to a revised non-GAAP earnings guidance range of $4.57 to $4.72 per share. The company reiterates its long-term earnings per share growth target of 5-7% through 2030.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Feb 26, 2026)
Eversource Energy (ES) announced on February 26, 2026, the issuance of $1.5 billion in aggregate principal amount of Junior Subordinated Notes. This offering is split equally between $750 million of Series A Notes and $750 million of Series B Notes, both due in 2056. These notes are unsecured obligations of the company and were issued under separate supplemental indentures to a master Junior Subordinated Note Indenture, with The Bank of New York Mellon Trust Company, N.A. serving as trustee. This debt issuance represents a significant capital raise for Eversource Energy. Investors should note that these are junior subordinated notes, which typically carry higher risk and offer potentially higher yields compared to senior debt. The long-term maturity of 2056 suggests the company is seeking to finance long-term projects or refinance existing debt with a protracted repayment schedule. Further details on the terms, covenants, and specific use of proceeds would be found in the prospectus supplement and related filings.
EVERSOURCE ENERGY 8-K Report, Financial Results (Feb 12, 2026)
Eversource Energy (ES) has filed an 8-K on February 12, 2026, primarily to disclose its unaudited financial results for the three- and twelve-month periods ended December 31, 2025. The filing includes a press release (Exhibit 99.1) and unaudited financial reports for the company and certain subsidiaries (Exhibit 99.2). Investors should note that while these results provide an update on the company's performance, they are unaudited and are not automatically incorporated into future SEC filings unless explicitly stated. Additionally, Eversource Energy announced a webcast conference call scheduled for February 13, 2026, to discuss its 2025 fourth-quarter financial performance with analysts. Presentation slides for this call are also included as an exhibit (Exhibit 99.3). These materials offer further insights into the company's operational and financial condition as it concluded the 2025 fiscal year.
EVERSOURCE ENERGY 8-K Report, Code of Ethics Amendment (Jan 30, 2026)
Eversource Energy and its subsidiaries, including The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire, filed an 8-K on January 30, 2026, primarily to report an update to their Code of Ethics for Senior Financial Officers. The Amended and Restated Code, effective January 27, 2026, incorporates updated language regarding auditor oversight and compliance programs, along with clarifying and stylistic revisions. Importantly, the company stated that these changes are not material and do not represent any waiver of existing ethical standards.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Dec 5, 2025)
Eversource Energy announced a significant change in its Board of Trustees, with Warren Robert Mudge appointed to serve as a Trustee effective January 1, 2026. Mr. Mudge brings extensive experience in the telecommunications and energy sectors, notably his tenure as Chief Operating Officer at Verizon Communications. His appointment to the Audit Committee and the Finance and Risk Management Committee suggests a focus on strengthening oversight in these critical areas. Investors should view this as a move to enhance board expertise, particularly given Mr. Mudge's background in operational transformation and large-scale infrastructure development. In addition to Mr. Mudge's appointment, David H. Long has been appointed Chair of the Governance, Environmental and Sustainability Committee, effective January 1, 2026. The company also updated its Corporate Governance Guidelines to clarify the responsibilities of the Lead Independent Trustee. These changes indicate a proactive approach to board structure and governance, aiming to improve strategic direction and accountability.
EVERSOURCE ENERGY 8-K Report, Corporate Update (Nov 24, 2025)
Eversource Energy (ES) has filed an 8-K report detailing a significant event: the rejection of its proposed sale of Aquarion Water Company by the Connecticut Public Utilities Regulatory Authority (PURA). This decision, announced via a news release on November 21, 2025, and attached as an exhibit to the filing, marks a setback for Eversource's divestiture plans and has potential implications for the company's strategic focus and capital allocation. Investors should closely monitor Eversource's subsequent communications regarding the rationale behind PURA's decision and the company's revised strategy for Aquarion Water Company. While the rejection itself is negative news, the company's ability to adapt and articulate a clear path forward will be crucial in assessing the long-term impact on shareholder value. Further details on the financial ramifications and potential alternative strategies are expected to be disclosed in future filings or investor communications.
EVERSOURCE ENERGY 8-K Report, Financial Results (Nov 4, 2025)
Eversource Energy (ES) has filed an 8-K report on November 4, 2025, primarily to disclose its unaudited financial results for the third quarter and the first nine months of 2025. The report includes a news release and a related financial report detailing the company's performance and that of its key subsidiaries: The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire. While these results provide a snapshot of the company's financial condition, investors should note that this information is furnished and not considered 'filed' for certain regulatory purposes, meaning it doesn't automatically get incorporated into registration statements unless explicitly stated. In addition to the financial results, Eversource Energy announced a webcast conference call scheduled for November 5, 2025. This call will feature senior management discussing the company's financial performance through Q3 2025. Presentation slides for this call are also included as an exhibit. Investors seeking deeper insights into the company's operational performance, strategic initiatives, and forward-looking statements will want to pay close attention to the details released in the news release, the financial report, and the upcoming conference call presentation.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Oct 17, 2025)
Eversource Energy (ES) announced on October 17, 2025, the issuance of $600 million in aggregate principal amount of 4.45% Senior Notes, Series HH, due 2030. These notes are unsecured obligations of the company and were issued under an indenture agreement with The Bank of New York Mellon Trust Company, N.A. This action indicates the company's ongoing need to secure capital, likely for operational needs, infrastructure investments, or refinancing existing debt. Investors should note the interest rate of 4.45% and the semi-annual interest payments. The issuance of new debt will impact the company's leverage ratios and interest expense. While the filing does not specify the exact use of proceeds, such debt issuances are common for utility companies to fund capital expenditures and maintain financial flexibility. Investors should monitor future filings for details on how these funds are deployed and their impact on profitability and cash flow.
EVERSOURCE ENERGY 8-K Report, Financial Results (Oct 14, 2025)
Eversource Energy (ES) has filed an 8-K report detailing significant financial updates, primarily related to its offshore wind projects. The company announced an increase in its contingent liability stemming from the sale of its interests in the South Fork Wind and Revolution Wind projects to affiliates of Global Infrastructure Partners (GIP). This increase is driven by revised cost projections for the Revolution Wind project, which includes overruns due to vessel damage, insurance, and a recent stop-work order from BOEM. Consequently, Eversource expects to recognize a net after-tax non-recurring charge of approximately $75 million, or $0.20 per share, in the third quarter of 2025, partially offset by a tax benefit. Additionally, the filing highlights Eversource's use of non-GAAP financial measures to provide a clearer view of ongoing operational performance, excluding losses from asset sales, impairments, and certain transaction costs. Management believes these non-GAAP measures offer a more meaningful representation of the company's financial performance. Investors should note the forward-looking nature of many statements in the filing and the inherent risks and uncertainties associated with the offshore wind projects and broader market conditions.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jul 31, 2025)
Eversource Energy (ES) filed an 8-K on July 31, 2025, to report its unaudited financial results for the second quarter and the first six months ended June 30, 2025. This filing includes a news release and a related financial report detailing the company's operational performance and financial condition for the specified periods. Investors should refer to the attached Exhibits 99.1 and 99.2 for comprehensive details on these results. Furthermore, the 8-K announces a forthcoming webcast on August 1, 2025, where senior management will discuss the company's financial performance through Q2 2025. Presentation slides for this call are attached as Exhibit 99.3. While these materials provide key financial updates, investors are reminded that the information contained within these exhibits is not considered "filed" with the SEC unless otherwise specified and therefore may not be incorporated into future registration statements.
EVERSOURCE ENERGY 8-K Report, Corporate Update (May 30, 2025)
Eversource Energy (ES) has announced the execution of an Equity Distribution Agreement with a syndicate of thirteen financial institutions, acting as Managers. This agreement allows Eversource Energy to issue and sell up to $1.2 billion of its common shares over time through these Managers. The offering is being conducted under an effective registration statement filed with the SEC and is accompanied by a prospectus supplement. This filing signals Eversource Energy's intent to potentially raise significant capital through the equity markets. Investors should note that this agreement provides flexibility for the company to access funds as needed, which could be utilized for various corporate purposes, including ongoing capital expenditures, debt repayment, or strategic initiatives. The specific timing and volume of share sales will depend on market conditions and the company's financial needs.
EVERSOURCE ENERGY 8-K Report, Financial Results (May 1, 2025)
Eversource Energy (ES) filed an 8-K on May 1, 2025, primarily reporting on its 2025 Annual Meeting of Shareholders and preliminary first-quarter 2025 financial results. A significant corporate governance change was approved, amending the Declaration of Trust to remove supermajority voting requirements in favor of majority-only votes and allowing for virtual annual meetings. The company also announced its unaudited results for the three months ended March 31, 2025, and will host an investor webcast on May 2, 2025, to discuss performance. Key outcomes from the shareholder meeting include the election of all nine trustee nominees and the ratification of Deloitte & Touche LLP as the independent auditor for 2025. While executive compensation was approved on an advisory basis, a shareholder proposal seeking an independent Board Chairman was not approved. Investors should note that the financial information provided in this filing is unaudited and meant for preliminary review, with more detailed information expected in subsequent SEC filings.
EVERSOURCE ENERGY 8-K Report, Financial Results (Feb 11, 2025)
Eversource Energy (ES) filed an 8-K on February 11, 2025, to report its unaudited financial results for the three- and twelve-month periods ended December 31, 2024. This filing primarily serves to provide investors with updated financial performance information, including that of its key subsidiaries: The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire. While the 8-K itself doesn't contain deep analytical commentary, it announces the release of a press release (Exhibit 99.1) and related financial statements (Exhibit 99.2) detailing these results. Investors should review these attached documents for specific financial metrics and performance trends. Furthermore, the report indicates that Eversource Energy will host a conference call on February 12, 2025, to discuss its 2024 financial performance with analysts. The presentation slides for this call (Exhibit 99.3) are also attached, offering further insights into management's perspective and key takeaways from the past fiscal year. Investors are encouraged to listen to the webcast and review the presentation materials to gain a comprehensive understanding of the company's financial condition and outlook.
EVERSOURCE ENERGY 8-K Report, Regulation FD Disclosure (Jan 28, 2025)
Eversource Energy has announced a significant divestiture of its wholly-owned subsidiary, Aquarion Water Company, to Aquarion Water Authority (AWA) for an aggregate enterprise value of approximately $2.4 billion. This transaction, expected to close in 2025, consists of $1.6 billion in cash and the extinguishment of $800 million in net debt. This strategic move signals a potential streamlining of Eversource's operations and a focus on its core utility businesses, while also providing substantial capital to be deployed, potentially for debt reduction, strategic investments, or returning value to shareholders. Investors should monitor the regulatory approval process closely, as it involves multiple state utility commissions and antitrust reviews. The successful completion of this sale will impact Eversource's financial structure, particularly its debt levels and overall asset base. The company's forward-looking statements highlight various risks and uncertainties, including the ability to close the transaction as planned and potential disruptions in capital markets or regulatory environments.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Dec 6, 2024)
Eversource Energy (ES) has filed an 8-K report on December 6, 2024, detailing an amendment to its Supplemental Executive Retirement Program. Effective January 1, 2025, the company's Compensation Committee has approved the addition of the Eversource Supplemental Cash Balance Pension Plan to the existing program. This amendment impacts executive compensation and retirement benefits. While this filing does not disclose specific financial performance figures, it signals a change in how a select group of senior executives will be compensated and provided for in their retirement. Investors should note that the full details of this amended program are available as an exhibit to this filing.
EVERSOURCE ENERGY 8-K Report, Regulation FD Disclosure (Nov 8, 2024)
Eversource Energy (ES) has filed an 8-K report on November 8, 2024, to disclose its participation in the annual Edison Electric Institute (EEI) Financial Conference from November 10-12, 2024. The company will be making a presentation at this conference, and the slides to be used have been attached as Exhibit 99.1 to this filing. This provides investors with an early look at the materials that will be presented, potentially offering insights into the company's current strategic priorities, financial outlook, and operational updates. While this 8-K filing primarily serves to attach presentation materials and does not contain new financial statements or material business developments in itself, the accompanying slides are crucial. Investors should review Exhibit 99.1 for any forward-looking statements, discussions on performance, capital expenditure plans, or guidance that may be shared during the conference. It's important to note that information provided in this manner is generally not considered 'filed' for purposes of securities law liability unless explicitly stated, but it serves as a material communication to the investment community.
EVERSOURCE ENERGY 8-K Report, Financial Results (Nov 4, 2024)
Eversource Energy (ES) filed an 8-K on November 4, 2024, primarily to report its unaudited financial results for the third quarter and the first nine months of 2024. The filing includes a news release (Exhibit 99.1) and detailed financial reports (Exhibit 99.2) for the period ending September 30, 2024, alongside financial information for key subsidiaries. Investors should note that this information, while important for understanding recent performance, is not considered "filed" with the SEC and thus may not be automatically incorporated into future registration statements unless explicitly stated. Additionally, the report announces a webcast conference call scheduled for November 5, 2024, where senior management will discuss the company's financial performance. Presentation slides (Exhibit 99.3) for this call are also attached. This provides an opportunity for investors to gain further insights into the company's operational and financial standing directly from management.
EVERSOURCE ENERGY 8-K Report, Financial Results (Sep 30, 2024)
Eversource Energy (ES) has announced the completion of the sale of its 50% interest in the South Fork Wind and Revolution Wind projects to affiliates of Global Infrastructure Partners (GIP). The transaction generated adjusted gross proceeds of $745 million at closing. However, this amount was reduced by approximately $375 million compared to initial expectations, primarily due to lower capital spending and delays in the commercial operations date for Revolution Wind. The company anticipates recording an aggregate net loss of approximately $520 million in the third quarter of 2024 related to its offshore wind divestiture, which includes a $370 million gain on the prior sale of Sunrise Wind and anticipated increases in Revolution Wind costs. This loss estimate includes a recognized liability of about $360 million, largely expected to be settled in 2026. Notably, Eversource has now divested all its offshore wind interests and confirms its previously announced equity issuance plan of up to $1.3 billion remains in place. The sale of these offshore wind assets has no impact on Eversource's regulated utility businesses.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jul 31, 2024)
Eversource Energy (ES) filed an 8-K on July 31, 2024, primarily to announce its unaudited financial results for the second quarter and first six months ended June 30, 2024. The filing includes a press release and related financial reports for the company and certain subsidiaries, which provide details on operational performance during the specified periods. Investors can access these results through Exhibits 99.1 and 99.2, which are incorporated by reference. Furthermore, the report indicates that Eversource Energy will host a conference call on August 1, 2024, to discuss its financial performance with analysts. The webcast of this call, along with the presentation slides (Exhibit 99.3), will be available on the company's investor relations website. This provides an avenue for deeper insight into the company's financial condition and management's outlook for the second quarter of 2024.
EVERSOURCE ENERGY 8-K Report, Financial Results (May 1, 2024)
Eversource Energy (ES) filed an 8-K on May 1, 2024, primarily to report the results of its 2024 Annual Meeting of Shareholders and to announce first-quarter 2024 financial results. The shareholder meeting saw the re-election of all nine nominees to the Board of Trustees and the advisory approval of executive compensation for 2023. Importantly, shareholders also ratified Deloitte & Touche LLP as the independent auditor for 2024 and approved a shareholder proposal for a 'Simple Majority Vote'. The company also announced that it would be holding a webcast on May 2, 2024, to discuss its first-quarter 2024 financial performance. This 8-K serves to update investors on corporate governance matters and upcoming financial discussions.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Apr 18, 2024)
Eversource Energy (ES) has filed an 8-K report on April 18, 2024, primarily announcing the issuance of new senior notes totaling $1.4 billion. This financing comprises $700 million in 5.85% Senior Notes due 2031 and $700 million in 5.95% Senior Notes due 2034. These notes are unsecured obligations of the company and were issued under a new supplemental indenture, supplementing an existing master indenture. The issuance of these notes indicates Eversource Energy's active management of its debt structure and its ongoing need for capital, likely to fund its extensive infrastructure investments and projects within its regulated utility territories. Investors should note the specific interest rates and maturity dates, which will impact the company's future interest expenses and cash flow obligations. The company has also filed the underwriting agreement and the supplemental indenture as exhibits to this report.
EVERSOURCE ENERGY 8-K Report, Corporate Update (Feb 29, 2024)
Eversource Energy (ES) announced on February 29, 2024, a significant development regarding the Sunrise Wind offshore wind farm. The project, a joint venture with Ørsted, has been selected by New York in its latest solicitation (New York 4) to advance climate goals and deliver economic benefits. This award allows Eversource to maintain its role in leading the onshore construction of the project, which is slated to be the largest U.S. offshore wind farm upon completion in 2026. Crucially for investors, Eversource has finalized an agreement to sell its 50% interest in Sunrise Wind to its joint venture partner, Ørsted. Upon the completion of this sale, Eversource expects to eliminate any risk exposure related to the project, including potential abandonment costs. This transaction is anticipated to close later this year, subject to customary regulatory approvals and the signing of an OREC contract with NYSERDA. The project is on track to begin construction this summer and become operational in 2026.
EVERSOURCE ENERGY 8-K Report, Material Agreement (Feb 14, 2024)
Eversource Energy (ES) announced on February 14, 2024, via an 8-K filing, a significant divestiture of its interests in the South Fork Wind and Revolution Wind projects. The company has entered into a Membership Interest Purchase Agreement to sell its equity stakes in North East Offshore, LLC and South Fork Class B Member, LLC to GIP IV Whale Fund Holdings, L.P. for approximately $1.1 billion, subject to customary adjustments. This transaction marks a strategic shift for Eversource, reducing its exposure to these large-scale offshore wind developments. While the company will retain its tax equity membership interest in South Fork Wind Holdings, LLC, the sale addresses potential capital expenditure overruns and future revenue/cost adjustments tied to project performance and financing. Investors should monitor the closing conditions, which include regulatory approvals and credit rating requirements, as well as the detailed post-closing adjustments that could impact the final net proceeds.
EVERSOURCE ENERGY 8-K Report, Financial Results (Feb 14, 2024)
Eversource Energy (ES) filed an 8-K on February 14, 2024, primarily to announce its unaudited financial results for the fourth quarter and full year ended December 31, 2023. The filing includes a press release detailing these results, along with unaudited consolidated balance sheets and income and cash flow statements for various periods. Investors should note that this information is furnished and not deemed "filed" with the SEC unless explicitly stated otherwise. Additionally, the 8-K announces a webcast conference call scheduled for February 14, 2024, where senior management will discuss the company's 2023 financial performance. The presentation slides for this call are also included as an exhibit. This provides an opportunity for investors to gain further insights directly from management regarding the company's financial position and outlook.
EVERSOURCE ENERGY 8-K Report, Corporate Update (Jan 25, 2024)
Eversource Energy (ES) has filed an 8-K report detailing a significant development concerning the Sunrise Wind offshore wind project. On January 25, 2024, the joint venture between Eversource and Ørsted submitted a new proposal for Sunrise Wind in response to New York's latest offshore wind solicitation. This re-bid aims to secure a contract for the project, which would deliver up to 924 megawatts of clean energy to the state and contribute to New York's renewable energy goals. A key aspect of this announcement is the agreement reached between Eversource and Ørsted regarding project ownership. If Sunrise Wind is awarded a contract, Ørsted will become the sole owner of the project, acquiring Eversource's 50 percent stake. Under this arrangement, Eversource would remain contracted to lead the project's onshore construction. Payment terms for Eversource's share include an initial payment upon closing the transaction and a deferred payment tied to the completion of onshore construction and other milestones.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jan 24, 2024)
Eversource Energy (ES) has filed an 8-K to announce a significant development regarding its Sunrise Wind offshore wind project. The company has entered into an agreement with its 50% joint venture partner, Ørsted, for Ørsted to acquire Eversource's stake in the 924 MW project. This transaction is contingent upon Sunrise Wind being successfully awarded capacity in the ongoing New York 4 solicitation, securing an OREC contract with NYSERDA, and other customary closing conditions, including regulatory approvals. This move suggests a strategic shift for Eversource, potentially reducing its direct exposure to the offshore wind development risk while allowing it to focus on other areas, such as its onshore interconnection systems. The filing highlights that Sunrise Wind is the most mature offshore wind project in New York's pipeline, with expectations for completion in 2026 if awarded, contributing to New York's renewable energy goals. The company also outlined a scenario where the joint venture remains in place if the project is not successful in the current solicitation, with further evaluations to follow.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Jan 19, 2024)
Eversource Energy (ES) announced on January 19, 2024, through an 8-K filing, the issuance of new senior notes totaling $1 billion. This issuance includes $350 million of 5.00% Senior Notes due in 2027 and $650 million of 5.50% Senior Notes due in 2034. These notes are unsecured obligations of the company, issued under an indenture supplemented by a new twenty-first supplemental indenture. The primary purpose of this filing is to inform investors about the company's financing activities and its impact on the capital structure. The issuance of new debt will affect the company's leverage and interest expense. Investors should consider the terms of these notes, including their interest rates and maturity dates, when assessing the company's financial health and future profitability. The filing also includes standard legal opinions and exhibits related to the note issuance.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jan 8, 2024)
Eversource Energy (ES) has announced significant updates regarding its planned divestiture of a 50 percent ownership interest in three offshore wind projects: South Fork Wind, Revolution Wind, and Sunrise Wind. The company is in advanced, exclusive negotiations with a leading global private infrastructure investor to sell its stake. This announcement comes alongside a substantial estimated other-than-temporary impairment charge of $1.4 billion to $1.6 billion for the fourth quarter of 2023, primarily due to increased construction costs driven by supply chain constraints and uncertainties surrounding the Sunrise Wind rebid process in New York. While the company expects to finalize the sale, the closing is contingent on regulatory approvals and the finalization of partnership agreements with Ørsted. The impairment charge, though significant, is a non-cash event and will not impact Eversource's current cash balances or future cash flows. Investors will receive further updates on 2024 guidance, long-term growth rates, equity needs, and capital forecasts in mid-February.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Dec 11, 2023)
Eversource Energy (ES) announced a key leadership change in its Human Resources and Information Technology functions via an 8-K filing on December 11, 2023. Susan Sgroi has been elected Executive Vice President of Human Resources and Information Technology, effective January 8, 2024. Ms. Sgroi brings extensive experience from her previous roles at Blue Cross and Blue Shield of Massachusetts and Fidelity Investments. This transition involves the retirement of Christine M. Carmody from her executive role, though she will continue with the company as a Senior Strategic Advisor until July 2024. Ms. Sgroi's compensation package includes a base salary of $555,000, eligibility for executive plans, and a signing bonus of $357,500. This appointment is investor-relevant as it signals continuity and integration of experienced leadership in critical operational areas for Eversource Energy.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Dec 8, 2023)
Eversource Energy (ES) announced on December 8, 2023, through an 8-K filing, the approval of new Executive Change-in-Control and Involuntary Termination (Not For Cause) Severance programs by its Compensation Committee. These programs are designed to provide specific compensation and benefits to certain senior executives under defined circumstances, aiming to ensure executive retention and provide financial security. The new programs detail severance packages in two key scenarios: a termination following a change in control, and an involuntary termination without cause. These packages include lump-sum cash payments based on base salary and target annual incentives, accelerated equity awards (performance shares and RSUs) in change-in-control scenarios, and continued healthcare benefits. Notably, existing agreements for certain top executives like Joseph R. Nolan, Jr. and Christine M. Carmody will remain in effect, and they will not be eligible for these new programs. John M. Moreira, the CFO, is expected to enter into a separate agreement to be eligible.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Nov 13, 2023)
Eversource Energy (ES) has filed an 8-K report detailing the issuance of $800 million in Senior Notes, Series CC, due in 2029, with a coupon rate of 5.95%. This transaction, which closed on November 10, 2023, was facilitated by an Underwriting Agreement with a syndicate of investment banks. These notes are unsecured obligations of the company and are governed by the terms of the Indenture and a Twentieth Supplemental Indenture. This debt issuance is a significant event for investors to monitor as it impacts the company's capital structure and future interest expense. The proceeds are intended to fund various corporate initiatives, although the specific use of proceeds is not detailed in this particular filing. Investors should consider how this new debt aligns with Eversource's overall financial strategy and its ability to service its obligations.
EVERSOURCE ENERGY 8-K Report, Financial Results (Nov 6, 2023)
Eversource Energy (ES) filed an 8-K on November 6, 2023, to report its unaudited third-quarter and nine-month results for the period ending September 30, 2023. The filing includes a press release detailing these results and related financial information for its subsidiaries. Investors should note that this information, along with accompanying exhibits like financial reports and presentation slides, is furnished and not deemed "filed" with the SEC unless explicitly stated otherwise, meaning it does not automatically become part of registration statements. In addition to the financial results, the 8-K announces a webcast conference call scheduled for November 6, 2023, where senior management will discuss the company's performance. The presentation slides for this call are also included as an exhibit. Investors seeking a deeper understanding of the company's operational and financial condition for the period are encouraged to review the detailed reports and presentation materials attached to this filing.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Sep 18, 2023)
Eversource Energy has announced a significant leadership change, appointing Paul Chodak III as Executive Vice President and Chief Operating Officer (COO), effective November 13, 2023. Mr. Chodak joins from American Electric Power (AEP) where he held senior operational roles, most recently as Executive Vice President – Generation. This appointment is a key development for investors as it brings a seasoned executive into a critical operational role, potentially impacting the company's efficiency and strategic execution in its utility operations. Concurrently, the company's current interim COO, James W. Hunt, III, will transition to Executive Vice President – Corporate Relations and Sustainability. This transition suggests a strategic realignment of leadership responsibilities, with a focus on both operational oversight and the increasingly important areas of corporate relations and sustainability. Investors will be keen to monitor how Mr. Chodak's experience at AEP will translate to Eversource's operational performance and how Mr. Hunt's new role will contribute to the company's stakeholder engagement and ESG initiatives.
EVERSOURCE ENERGY 8-K Report, Regulation FD Disclosure (Sep 7, 2023)
Eversource Energy (ES) has announced the closing of the sale of its uncommitted lease area off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction. This significant divestiture, previously announced in May 2023, includes approximately 175,000 developable acres. The company received an initial payment of $575 million at closing, with the remaining $50 million expected by the end of Q3 2023, contingent on certain tax equity investment events related to South Fork Wind. Furthermore, Eversource will utilize a portion of these proceeds to make a substantial tax equity investment of approximately $545 million in South Fork Wind, LLC, an affiliate's wholly-owned subsidiary. This investment is anticipated to generate significant investment tax credits, which will be used to reduce the company's federal tax liability, with refunds expected over the next nine months. Eversource also expects to receive a distribution of roughly $273 million from the project before its commercial operations date, which is slated for late 2023.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jul 31, 2023)
Eversource Energy (ES) has filed an 8-K report on July 31, 2023, to announce its unaudited financial results for the second quarter and first six months ended June 30, 2023. This filing includes a news release and related financial reports for the company and certain subsidiaries. Investors should note that this information is furnished and not deemed "filed" with the SEC unless specifically stated otherwise. Additionally, the company announced that it will hold a conference call on August 1, 2023, to discuss its financial performance for the period. Presentation slides for this call have also been provided as an exhibit. These disclosures are critical for understanding the company's recent performance and outlook.
EVERSOURCE ENERGY 8-K Report, Executive Changes (May 26, 2023)
Eversource Energy (ES) announced a change in its Board of Trustees through an 8-K filing on May 26, 2023. The key event is the election of Daniel J. Nova to the Board, effective June 1, 2023. Mr. Nova's appointment is significant as it brings a seasoned executive with extensive experience in venture capital and public company directorships to Eversource's governance. His expertise, particularly in finance and compensation matters, is expected to contribute to the company's strategic direction and oversight. Mr. Nova's compensation for his role as a Trustee includes an annual cash retainer of $120,000 and a Restricted Stock Unit (RSU) grant valued at $165,000, prorated from his effective start date. These arrangements align with typical executive compensation structures for board members and underscore the company's commitment to attracting experienced talent. The filing also confirms that Mr. Nova has no disclosable related-party transactions, ensuring a clean slate for his board tenure.
EVERSOURCE ENERGY 8-K Report, Material Impairment (May 25, 2023)
Eversource Energy (ES) announced on May 25, 2023, the completion of its strategic review of its offshore wind business. The company has entered into an agreement to sell its 50% interest in an uncommitted offshore lease area for $625 million in an all-cash transaction, expected to close by the end of Q3 2023. Additionally, Eversource will provide tax equity for the South Fork Wind project, recovering this investment via investment tax credits around its commercial operation date in late 2023. As a result of this strategic review and current market conditions impacting the valuation of its offshore wind assets, Eversource has determined an "other-than-temporary impairment" is necessary. The company expects to recognize an after-tax impairment charge in the range of $220 million to $280 million in the second quarter of 2023. This impairment will not affect cash flows or cash balances, though the company will continue to make required cash contributions to its joint venture until the sale of its contracted projects is finalized. Eversource also confirmed its ongoing pursuit of selling its 50% interest in three jointly-owned contracted offshore wind projects, with an announcement anticipated by the end of June.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (May 11, 2023)
Eversource Energy filed an 8-K on May 11, 2023, to report the issuance of new senior notes totaling $1.8 billion. This debt issuance includes $550 million of 5.45% Senior Notes due 2028, $450 million of 4.75% Senior Notes due 2026, and $800 million of 5.125% Senior Notes due 2033. These notes are unsecured obligations of the company and were issued under existing indenture agreements, with supplemental indentures executed to accommodate the new tranches. The primary purpose of this filing is to disclose the creation of these direct financial obligations. Investors should note that this issuance increases the company's total debt. The specific interest rates and maturity dates are detailed in the filing, providing transparency on the cost and duration of this new financing. The company has engaged multiple underwriters for these issuances.
EVERSOURCE ENERGY 8-K Report, Financial Results (May 3, 2023)
Eversource Energy filed an 8-K on May 3, 2023, primarily to report on its 2023 Annual Meeting of Shareholders and its unaudited financial results for the first quarter ended March 31, 2023. The company announced its Q1 2023 results via a press release (Exhibit 99.1), accompanied by related financial reports for its subsidiaries (Exhibit 99.2). A key operational update included the re-appointment of Jay S. Buth as the Company's principal accounting officer. The annual meeting saw significant shareholder activity, with all 11 nominees for the Board of Trustees being elected. Shareholders also provided advisory approval for the compensation of Named Executive Officers and voted in favor of holding say-on-pay votes annually. Furthermore, shareholders approved an amendment to the 2018 Incentive Plan to authorize additional shares and approved an increase in the total number of authorized common shares. The selection of Deloitte & Touche LLP as the independent auditor for 2023 was also ratified.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Mar 14, 2023)
Eversource Energy (ES) announced a significant executive transition via an 8-K filing on March 14, 2023. Werner J. Schweiger, Executive Vice President and Chief Operating Officer, has informed the company of his intention to retire effective July 1, 2023. He will step down from his COO role on a date prior to retirement mutually agreed upon with the company, and will continue to serve as a strategic advisor until his departure. Following Mr. Schweiger's resignation from the COO position, James W. Hunt, III, currently Executive Vice President-Corporate Relations and Sustainability and Secretary, will assume the role of Chief Operating Officer on an interim basis. This filing primarily serves to inform investors of this planned leadership change and the interim appointment, with details of the press release announcing this transition attached as an exhibit.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Mar 6, 2023)
Eversource Energy (ES) has filed an 8-K report on March 6, 2023, primarily to disclose the issuance of $750 million in senior notes. These notes, designated as 5.45% Senior Notes, Series Z, Due 2028, were issued under an underwriting agreement with a syndicate of prominent investment banks. This action represents a significant debt financing event for the company, aimed at bolstering its capital structure. Investors should note that these are unsecured obligations of Eversource Energy. The issuance of these notes is a standard part of corporate finance for utility companies like Eversource, typically to fund capital expenditures, operational needs, or refinance existing debt. The interest rate of 5.45% provides a benchmark for the cost of debt at the time of issuance. The maturity in 2028 suggests a medium-term financing strategy. The company also provided exhibits including the underwriting agreement, supplemental indenture, form of the notes, and a legal opinion on their validity.
EVERSOURCE ENERGY 8-K Report, Financial Results (Feb 13, 2023)
Eversource Energy (ES) filed an 8-K on February 13, 2023, to report its unaudited financial results for the three- and twelve-month periods ended December 31, 2022. The filing includes a press release detailing these results and financial information for its subsidiaries. Investors should note that this information, as presented in the 8-K, is not considered 'filed' with the SEC and thus does not automatically get incorporated into registration statements unless explicitly stated. Furthermore, the company announced a webcast conference call scheduled for February 14, 2023, to discuss its 2022 fourth-quarter financial performance with analysts. The presentation slides for this call are also included as an exhibit to this 8-K. This event offers an opportunity for a deeper understanding of the company's recent performance and future outlook.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Dec 8, 2022)
Eversource Energy (ES) announced a significant change in its corporate governance structure through an 8-K filing on December 8, 2022. The key development is the election of Loretta D. Keane to the Board of Trustees, effective January 1, 2023. Ms. Keane, a seasoned executive with experience as CFO of Arcadia Solutions, LLC, will also assume roles as Vice Chair of the Audit Committee and a member of the Finance Committee. This appointment is intended to bring valuable financial expertise and oversight to the company's board.
EVERSOURCE ENERGY 8-K Report, Financial Results (Nov 2, 2022)
Eversource Energy (ES) filed an 8-K report on November 2, 2022, primarily to disclose its unaudited financial results for the third quarter and the nine months ended September 30, 2022. The report includes a press release and financial statements, detailing operational performance and financial conditions for the company and certain subsidiaries. This filing is crucial for investors seeking an update on the company's financial health and operational achievements during the specified periods. Additionally, the report announces an upcoming webcast and conference call scheduled for November 3, 2022, where senior management will further discuss the company's financial performance. The presentation slides for this call are also attached as an exhibit. Investors should pay close attention to these materials for in-depth analysis and forward-looking statements from management.
EVERSOURCE ENERGY 8-K Report, Executive Changes (Sep 16, 2022)
Eversource Energy (ES) has filed an 8-K report on September 16, 2022, primarily announcing significant changes in its Board of Trustees and executive leadership, effective December 31, 2022. James J. Judge will retire as Executive Chairman of the Board and as a Trustee. Joseph R. Nolan, Jr., currently President and CEO, will assume the role of Chairman of the Board and Chair of the Executive Committee. This transition indicates a planned succession for key leadership positions within the company. Furthermore, the filing addresses a temporary unavailability of Jay S. Buth, Vice President, Controller, and Chief Accounting Officer. John M. Moreira, Executive Vice President, CFO, and Treasurer, has been appointed as the interim principal accounting officer. These executive movements, while potentially impacting immediate operational oversight, are presented as part of the company's governance and management adjustments.
EVERSOURCE ENERGY 8-K Report, Financial Results (Jul 28, 2022)
Eversource Energy (ES) filed an 8-K on July 28, 2022, to report its unaudited financial results for the second quarter and the first six months of 2022. The filing primarily serves to disseminate financial information and updates related to the company and its subsidiaries, including The Connecticut Light and Power Company, NSTAR Electric Company, and Public Service Company of New Hampshire. Accompanying the 8-K are a press release (Exhibit 99.1) and detailed financial reports (Exhibit 99.2) for the periods ending June 30, 2022. Additionally, the company announced a conference call scheduled for July 29, 2022, to discuss these results with financial analysts, with presentation slides (Exhibit 99.3) also provided. Investors should note that this information is furnished and not considered 'filed' with the SEC, meaning it does not automatically get incorporated into registration statements unless explicitly stated.
EVERSOURCE ENERGY 8-K Report, Financial Obligation (Jun 27, 2022)
Eversource Energy (ES) has filed an 8-K to disclose the issuance of new senior notes, a significant financing activity for the company. On June 27, 2022, the company successfully issued $900 million in 4.20% Senior Notes due 2024 and $600 million in 4.60% Senior Notes due 2027, totaling $1.5 billion in aggregate principal amount. These unsecured notes were issued under an indenture agreement with The Bank of New York Mellon Trust Company, N.A., providing additional liquidity and flexibility for the company's ongoing operations and future investments. This debt issuance represents a material event for investors as it impacts the company's capital structure and leverage. The specific coupon rates and maturity dates provide clarity on the cost of borrowing and the company's debt repayment schedule. Investors should assess how this new debt fits within Eversource's overall financial strategy, particularly in the context of its capital expenditure plans and regulatory environment.