Eversource Energy Reports Third Quarter 2026 Results
EVERSOURCE ENERGY (ES) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Eversource Energy Reports Third Quarter 2026 Results HARTFORD, Conn. and BOSTON, Mass. (November 4, 2026) – Eversource Energy (“Eversource” or the “Company”) (NYSE: ES) today reported GAAP and non-GAAP earnings of $346.0 million, or $0.92 per share, for the third qua
How this was made
The 30-second read
Why it matters
The earnings miss and guidance revision are likely to trigger a short‑term price decline, though regulatory refunds and rate increases provide some cushion.
Market read
Primary earnings disclosure with updated guidance; immediate relevance for traders holding or shorting ES.
What to watch
Regulatory refunds and storm‑cost settlements may partially offset earnings weakness.
Eversource Energy reported third-quarter 2026 GAAP and non-GAAP earnings of $346.0 million, or $0.92 per share, and updated 2026 non-GAAP recurring EPS guidance to $4.62 per share and $4.70 per share.
Third-quarter reported earnings and EPS declined from the prior year, with lower earnings across electric transmission, electric distribution, natural gas distribution and parent and other companies. The company raised the midpoint of its 2026 non-GAAP recurring EPS guidance to $4.66 per share, while year-to-date results were affected by Aquarion, offshore wind and FERC ROE charges.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Reported earnings, third quarterGAAP | $346M | – | $ (21.5 ) |
| Reported EPS, third quarterGAAP | $0.92 per share | – | $ (0.07 ) |
| Non-GAAP earnings, third quarternon-GAAP | $346M | – | – |
| Non-GAAP recurring EPS, third quarternon-GAAP | $0.92 per share | – | – |
| Reported earnings, first nine monthsGAAP | $1.01B | – | – |
| Reported EPS, first nine monthsGAAP | $2.67 per share | – | $ (0.77 ) |
| Non-GAAP recurring earnings, first nine monthsnon-GAAP | $1.33B | – | – |
| Non-GAAP recurring EPS, first nine monthsnon-GAAP | $3.52 per share | – | – |
| Electric Transmission earnings, third quarternon-GAAP | $182M | – | $ (3.5 ) |
| Electric Transmission EPS, third quarternon-GAAP | $0.48 | – | $ (0.02 ) |
| Electric Transmission earnings, first nine monthsnon-GAAP | $590M | – | $ (3.0 ) |
| Electric Transmission EPS, first nine monthsnon-GAAP | $1.57 | – | $ (0.03 ) |
| Electric Distribution earnings, third quarternon-GAAP | $200.9M | – | $ (20.7 ) |
| Electric Distribution EPS, third quarternon-GAAP | $0.53 | – | $ (0.07 ) |
| Electric Distribution earnings, first nine monthsnon-GAAP | $574.1M | – | 2.5 |
| Electric Distribution EPS, first nine monthsnon-GAAP | $1.52 | – | $ (0.03 ) |
| Natural Gas Distribution earnings, third quarternon-GAAP | −$43.4M | – | $ (26.6 ) |
| Natural Gas Distribution EPS, third quarternon-GAAP | $ (0.11 ) | – | $ (0.06 ) |
| Natural Gas Distribution earnings, first nine monthsnon-GAAP | $281.6M | – | 44.7 |
| Natural Gas Distribution EPS, first nine monthsnon-GAAP | $0.75 | – | 0.11 |
| Water Distribution earnings, third quarternon-GAAP | — | – | (18.9 ) |
| Water Distribution EPS, third quarternon-GAAP | — | – | (0.05 ) |
| Water Distribution earnings, first nine monthsnon-GAAP | $17.9M | – | $ (18.9 ) |
| Water Distribution EPS, first nine monthsnon-GAAP | $0.05 | – | $ (0.05 ) |
| Parent and Other Companies earnings, third quarternon-GAAP | $6.5M | – | $ (26.8 ) |
| Parent and Other Companies EPS, third quarternon-GAAP | $0.02 | – | $ (0.07 ) |
| Parent and Other Companies earnings, first nine monthsnon-GAAP | −$137.8M | – | $ (45.6 ) |
| Parent and Other Companies EPS, first nine monthsnon-GAAP | $ (0.37 ) | – | $ (0.12 ) |
| Offshore Wind Charge, third quarterGAAP | — | – | 75.0 |
| Offshore Wind Charge, first nine monthsGAAP | −$164M | – | $ (89.0 ) |
| Sale of Aquarion Charge, first nine monthsGAAP | −$111.4M | – | $ (111.4 ) |
| FERC ROE Refund Charge, first nine monthsGAAP | −$43.9M | – | $ (43.9 ) |
| Common shares outstandingother | approximately 377 million common shares outstanding | – | – |
2026 outlook
- NoteNon-GAAP recurring earnings guidance of $4.62 per share and $4.70 per share
- NoteIncreased midpoint of $4.66 per share
- NoteCumulative long-term earnings per share growth rate within the range of 5 to 7 percent through 2030
- NoteExpects annual earnings growth towards the upper half of its long-term guidance by 2028
What drove it
- Electric transmission results reflected the reduction to the allowed ROE, higher interest expense and continued investment in the electric transmission system.
- Electric distribution results were unfavorably affected by disallowed storm costs, higher depreciation, interest expense and property taxes, partly offset by Massachusetts and New Hampshire base distribution rate increases and continued distribution investment.
- Natural gas distribution third-quarter results reflected lower Massachusetts revenues from a seasonal rate-design change and higher depreciation expense.
- Natural gas distribution first-nine-month results benefited from Massachusetts and Connecticut base distribution rate increases effective November 1, 2025.
- The water business had no third-quarter 2026 earnings following the June 30, 2026, sale of Aquarion Water Company.
Concerns
- The March 19, 2026 FERC decision reduced the ROE rate for New England transmission owners from 10.57% to 9.57%.
- PURA's July 29, 2026 final decision on CL&P's storm prudency proceeding resulted in disallowed storm costs.
- First-nine-month GAAP results included charges related to the Aquarion sale, offshore wind expected future payments and FERC ROE refunds.
- Higher interest expense and a higher effective income tax rate reduced parent and other companies results.
What to watch
- Execution on the securitization path for previously deferred Connecticut storm costs following the PURA decision.
- The impact of the reduced allowed ROE on electric transmission earnings.
- Recovery timing under the Massachusetts natural gas seasonal rate design.
- The offshore wind divestiture contingent liability and purchase-price post-closing adjustment.
- Delivery of the updated 2026 non-GAAP recurring earnings guidance range of $4.62 per share and $4.70 per share.
Analysis
Eversource reported third-quarter 2026 GAAP earnings of $346.0 million, or $0.92 per share, compared with $367.5 million, or $0.99 per share, in the third quarter of 2025. There were no non-GAAP adjustments in the third quarter of 2026, making non-GAAP earnings and EPS also $346.0 million and $0.92 per share. The third-quarter comparison was pressured by declines in every operating business earnings line reported, as well as lower parent and other companies earnings.
Electric transmission earned $182.0 million in the third quarter, compared with $185.5 million a year earlier, reflecting the reduced allowed ROE and higher interest expense, partly offset by ongoing transmission investment. Electric distribution earned $200.9 million, compared with $221.6 million, as disallowed storm costs, depreciation, interest expense and property taxes outweighed rate increases at the Massachusetts and New Hampshire electric businesses and continued distribution investment.
Natural gas distribution recorded a loss of $43.4 million in the quarter, compared with a loss of $16.8 million in the third quarter of 2025. Management attributed the lower quarter to reduced Massachusetts gas revenue caused by a seasonal rate-design change that shifted quarterly revenue recovery, plus higher depreciation expense. Water distribution had no third-quarter earnings after the June 30, 2026 sale of Aquarion Water Company. Parent and other companies earned $6.5 million, compared with $33.3 million, due to a higher effective income tax rate and higher interest expense.
For the first nine months, reported GAAP earnings were $1.01 billion, or $2.67 per share, compared with $1.27 billion, or $3.44 per share. GAAP earnings included a $111.4 million after-tax Aquarion sale charge, a $164.0 million after-tax offshore wind expected-future-payments charge and a $43.9 million after-tax FERC ROE refund charge. Excluding these types of items, non-GAAP recurring earnings were $1.33 billion, or $3.52 per share, compared with $1.35 billion, or $3.64 per share.
The company updated 2026 non-GAAP recurring EPS guidance to $4.62 per share and $4.70 per share, with an increased midpoint of $4.66 per share. It reaffirmed its 5 to 7 percent cumulative long-term EPS growth range through 2030 using that revised midpoint as the base year, and said it expects annual earnings growth toward the upper half of its long-term guidance by 2028. Regulatory recovery, the lower transmission ROE, interest expense and the timing of Massachusetts gas revenue recovery remain central earnings variables.
Management, verbatim
We continued to execute well across our key strategic initiatives and our employees continued to deliver safe and reliable energy service and advance the investments necessary to support our customers and communities.
Joe Nolan, Eversource Chairman, President and Chief Executive Officer
We were pleased to receive a constructive decision from PURA on previously deferred storm costs, which provides a clear path to securitization that ultimately will benefit our Connecticut customers.
Joe Nolan, Eversource Chairman, President and Chief Executive Officer
Looking ahead, our focus remains on disciplined execution and successfully delivering on the operational, regulatory, and financial objectives we established for 2026.
Joe Nolan, Eversource Chairman, President and Chief Executive Officer
Not in the filing
stated, not guessed- Total revenue
- Revenue by business segment
- Gross profit and gross margin
- Operating income
- Operating margin
- Operating expenses
- Income tax expense and effective tax rate figures
- Cash and cash equivalents
- Debt
- Operating cash flow
- Free cash flow
- Capital expenditures
- Share repurchases
- Dividends
- Prior-quarter figures
- Prior outlook section for comparison with reported results
- Segment revenue figures required for the segments field
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Eversource Energy (NYSE: ES) released its Q3 2026 results via an SEC Form 8‑K, showing GAAP EPS of $0.92 versus $0.99 a year ago and updating non‑GAAP guidance.
Ticker impact
Eversource Energy filed its Q3 2026 earnings and updated its 2026 non‑GAAP earnings guidance to $4.62‑$4.70 per share.
likely pressure as the market prices in the lower earnings and revised guidance
The earnings miss and guidance update are fresh primary disclosures; investors typically react negatively to downward earnings trends.
Market effects
Utility sector may see modest downside pressure as earnings miss signals broader rate‑sensitive cost pressures.
Northeast U.S. utility investors could adjust exposure following the earnings release.
Limited; the news is company‑specific with minor macro implications.
Counterpoint
If the guidance range is viewed as a floor rather than a cut, the stock could find support on the upside.
Key entities
- companyEversource Energy
U.S. utility reporting Q3 2026 results
