The in-line recurring EPS and reaffirmed guidance suggest no near-term catalyst. Watch for the July 31 webcast for commentary on transmission ROE recovery and offshore wind liability resolution. The 5-7% long-term growth target provides a floor, but the FERC headwind and higher interest expense cap upside until rate case outcomes are clearer.
Price Chart
Executive Summary
Eversource Energy reported Q2 2026 non-GAAP recurring EPS of $0.87, in line with consensus, but GAAP EPS collapsed to $0.14 from $0.96 a year ago due to $275.4M in combined charges from the Aquarion sale and offshore wind contingent liability. The company reaffirmed its revised 2026 non-GAAP guidance of $4.57-$4.72 per share, reflecting the FERC ROE reduction and Aquarion divestiture, while maintaining a 5-7% long-term EPS growth target through 2030. The stock's reaction is likely muted as the core operational beat/miss was negligible, but the large one-time charges and regulatory headwinds create a cautious backdrop.
Key Financial Metrics
Key Facts
- Q2 2026 GAAP EPS $0.14 vs $0.96 YoY, driven by $111.4M Aquarion sale charge and $164.0M offshore wind contingent liability increase
- Non-GAAP recurring EPS $0.87, in line with consensus estimate of $0.87
- Operating revenues $2.90B, up 2.3% YoY from $2.84B
- Reaffirmed 2026 non-GAAP EPS guidance $4.57-$4.72 and 5-7% long-term EPS growth through 2030
- FERC ROE reduction from 10.57% to 9.57% on New England transmission will pressure future earnings
- Electric distribution earnings rose 5.5% YoY on base rate increases in MA and NH; natural gas distribution fell 15.9% in Q2
Financial Impact
Non-GAAP EPS in line at $0.87; GAAP EPS severely impacted by $275.4M in one-time charges; 2026 guidance midpoint $4.65 implies ~5% YoY decline from 2025 non-GAAP $4.89
Risk Factors
- FERC ROE reduction from 10.57% to 9.57% on New England transmission assets
- Offshore wind contingent liability could increase further if Revolution Wind/South Fork Wind costs rise
- Higher interest expense ($355M in Q2 vs $293M YoY) pressures earnings
- Aquarion sale removes a stable earnings contributor for H2 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3336446 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 30, 2026 9w ago | Press Release | $71.59 $70.84 | ▼ −1.05% | ▼ −4.04% | $64.57 (−9.81%) |
Feb 23, 2026 31w ago | Insider Cluster | $74.67 $67.64 | ▲ +9.41% | ▲ +5.47% | $64.57 (+13.53%) |
Feb 23, 2026 31w ago | Insider Cluster | $74.67 $67.64 | ▲ +9.41% | ▲ +5.47% | $64.57 (+13.53%) |
US Market Status
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