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Key Takeaways Eversource plans to invest $26.5B through 2030 in transmission, distribution and grid modernization.
Eversource sees transmission spending as a growth driver as New England electricity demand increases.
Grid investments are expected to support 5-7% long-term EPS growth, moving toward the upper half by 2028.

Eversource Energy (ES - Free Report) is strengthening its electric grid through modernization and advanced metering initiatives to enhance operational efficiency. These investments can also improve service quality and support growing customer demand.

Eversource operates an extensive electric network comprising nearly 59,900 distribution miles and 4,500 transmission miles, which allows the company to efficiently meet demand and provide high-quality services to its customers.

The company plans to invest nearly $26.5 billion through 2030, which includes $7.14 billion for transmission and $11.42 billion for the electric distribution network. ES also sees $1.7 billion of potential incremental investments, including $1 billion for Connecticut advanced metering infrastructure and $700 million related to the longer-term transmission planning process.

Transmission spending could become an important growth driver as electricity demand rises across New England. ISO-New England has preliminarily selected Eversource and Avangrid’s $2.2 billion transmission proposal, with ES’ share expected to be about $700 million. The project is intended to increase transmission capacity and reduce congestion costs, although final approval remains pending.

The investment program provides a strong opportunity to expand Eversource’s regulated rate base and generate earnings growth. The company is targeting 5-7% long-term earnings per share growth, with growth expected to move toward the upper half of this range by 2028.

Overall, rising power demand, transmission opportunities and sustained grid spending are expected to strengthen ES’ regulated rate base and support long-term earnings (EPS) growth. These investments also position the company to capitalize on increasing electricity needs.

Strategic Expenditures Drive Grid ModernizationA strategic capital program enhances the grid through targeted investments in transmission, distribution and modernization initiatives. The investments improve grid reliability, replace aging assets, increase system capacity, accommodate growing power demand, expand the regulated rate base and support long-term earnings growth.

FirstEnergy Corp. (FE - Free Report) is advancing grid modernization through its multi-year Energize365 program, aimed at strengthening infrastructure, enhancing customer service and supporting affordability. The company plans to invest $36 billion from 2026 to 2030.

PPL Corporation (PPL - Free Report) aims to invest $23 billion through 2029, which includes grid hardening, smart-grid technology, automation and transmission expansion, supporting reliability and approximately 10.3% annual rate-base growth.

The Zacks Rundown on ESES’ Earnings EstimatesThe Zacks Consensus Estimate for 2026 EPS indicates a year-over-year decrease of 2.52%, while the estimate for 2027 EPS suggests a 6.45% increase.

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ES’ Stock Trading at a DiscountES is trading at a discount to the industry, with a forward 12-month price-to-earnings ratio of 14.82X versus the industry average of 15.42X.

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ES’ Stock Price PerformanceIn the past three months, the company’s shares have risen 4.8% compared with the industry’s 5.3% growth.

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ES’ Zacks Rank

Why Elastic Could Be the Next AI Winner in 2026Eversource Energy NYSE: ES reported second-quarter 2026 GAAP earnings of $0.14 per share, down from $0.96 per share a year earlier, as the company recorded charges tied to the completed sale of Aquarion Water Company and its remaining offshore-wind-related contingent liability.

Excluding those items, recurring earnings were $0.87 per share for the quarter, compared with $0.96 per share in the second quarter of 2025. Chairman, President and Chief Executive Officer Joe Nolan said the result was in line with the company’s expectations. Eversource reaffirmed its 2026 non-GAAP earnings guidance of $4.57 to $4.72 per share and its long-term EPS growth target of 5% to 7%.

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Buyback Boom: 3 Companies Betting Big on ThemselvesChief Financial Officer John Moreira said the decline in recurring earnings from the prior-year period primarily reflected lower results in electric transmission and gas distribution. Transmission earnings were affected by the Federal Energy Regulatory Commission’s March decision reducing the base return on equity, while gas distribution results faced a comparison with a prior-year benefit related to recoverable expenses. Higher electric distribution revenue partly offset those pressures.

Aquarion Sale and Revolution Wind Charges Eversource completed the sale of Aquarion on June 30, generating $1.7 billion of net proceeds. Nolan said the transaction advances the company’s strategy to operate as a pure-play regulated electric and natural gas utility, with the proceeds slated to reduce parent-company debt.

3 Big Dividend Plays With Strong Earnings to Back ThemThe quarter’s GAAP results included a non-cash, after-tax charge of $111.4 million, or $0.30 per share, related to Aquarion’s carrying value at closing. The company also recorded an after-tax charge of $164 million, or $0.43 per share, to increase its estimated offshore wind contingent liability associated with its sale of Revolution Wind.

Nolan said revised Revolution Wind construction-cost estimates included higher costs resulting from two stop-work orders. He said the project is approximately 97% complete, is currently delivering more than 300 megawatts to the ISO New England grid, and remains expected to reach commercial operation later this year. Nolan said the stop-work orders caused the project to lose a vessel that had to be remobilized, but he expressed confidence that the remaining installation work is straightforward.

Transmission Opportunity and FERC Proceedings ISO New England has preliminarily selected a joint Eversource and Avangrid proposal as its preferred solution in a longer-term transmission planning process. The approximately $2.2 billion project would expand capacity between Maine and New Hampshire and strengthen transmission between northern and southern New England. Eversource’s share is expected to be about $700 million, with an anticipated in-service date of 2032.

Nolan said stakeholder comments are expected Aug. 14, followed by ISO New England’s review and a potential final recommendation in September. Moreira said roughly half of Eversource’s anticipated $700 million share could fall within the company’s current five-year capital forecast through 2030 if the project moves forward.

The company continues to challenge FERC’s March decision that reduced the base transmission return on equity and ordered refunds extending back more than a decade. Moreira said FERC approved an extension delaying refunds until mid-2027, while Eversource has also petitioned the U.S. Court of Appeals for the D.C. Circuit for review and sought a stay.

Eversource has separately filed for a prospective transmission ROE of 11.39%, based on FERC’s existing methodology and current market conditions. Briefs in that proceeding are due Aug. 28 and Sept. 28, and the company expects a new rate to take effect Nov. 30. Its current earnings outlook assumes a 9.57% base transmission ROE.

Connecticut Rates and Storm-Cost Recovery Eversource’s Connecticut Light & Power unit filed its first general rate request since 2017 on July 14. The filing seeks to address a $451 million revenue deficiency and proposes a 10.25% ROE. The proposed increase would raise total customer bills by about 11%, according to Moreira.

About 90% of the requested deficiency is tied to capital investment, storm resiliency, storm restoration costs, depreciation and taxes, while 11% relates to operating and maintenance costs, Moreira said. The filing also includes a proposed multiyear performance-based ratemaking mechanism, economic development and heat-pump rates, and a plan for advanced metering infrastructure.

The AMI proposal includes nearly $1 billion of capital investment and $300 million in operating expense. Moreira said Eversource is seeking an expedited decision this fall and, if approved, could begin mobilizing the Connecticut project next year. He said full implementation would take about five years, with part of the capital spending falling outside the current forecast period.

Connecticut regulators also issued a final storm-cost decision. Of roughly $975 million requested, the Public Utilities Regulatory Authority approved about $870 million, including approximately $200 million already recovered through rates. Eversource expects to securitize about $670 million. PURA deferred approximately $60 million pending a third-party audit and excluded about $40 million, while declining recovery of requested carrying charges.

Moreira said Eversource is evaluating its options regarding the carrying charges. The company expects to submit its financing plan in early fall, receive a final financing decision in the first quarter of next year, and potentially receive securitization proceeds about a year from now.

Capital Plan and Balance Sheet The company reaffirmed its $26.5 billion five-year capital plan through 2030, while identifying potential additions from the preliminary transmission selection and Connecticut AMI proposal. Eversource said its five-year equity needs remain $800 million to $1.1 billion and that it does not expect to issue equity during the remainder of 2026.

Moreira said Eversource’s March 31 funds-from-operations-to-debt metrics were 14.3% under S&P’s methodology and 15.7% under Moody’s methodology, each more than 100 basis points above downgrade thresholds. Moody’s recently revised the outlooks for Eversource and NSTAR Electric to stable from negative.

Management said it expects earnings growth to move toward the upper half of its 5% to 7% long-term target range by 2028, supported by regulatory outcomes, storm-cost securitization efforts, the Aquarion sale and planned utility investment.

About Eversource Energy (NYSE:ES)Eversource Energy NYSE: ES is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company's core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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HARTFORD, Conn. and BOSTON, July 30, 2026 (GLOBE NEWSWIRE) -- Eversource Energy (“Eversource” or the “Company”) (NYSE: ES) today reported GAAP earnings of $53.7 million, or $0.14 per share, for the second quarter of 2026, compared with GAAP and non-GAAP earnings of $352.7 million, or $0.96 per share, for the second quarter of 2025. Non-GAAP recurring earnings totaled $329.1 million1, or $0.87 per share1, in the second quarter of 2026.

For the first half of 2026, Eversource reported GAAP earnings of $660.5 million, or $1.75 per share, compared with GAAP and non-GAAP earnings of $903.5 million, or $2.45 per share, for the first half of 2025. Non-GAAP recurring earnings totaled $979.8 million1, or $2.60 per share1, in the first half of 2026.

GAAP results for the second quarter and first half of 2026 include a non-cash, after-tax charge of $111.4 million, or $0.30 per share, related to the sale of Aquarion Water Company on June 30, 2026 and an after-tax charge of $164.0 million, or $0.43 per share, related to an increase in Eversource's offshore wind contingent liability for expected future payments to Global Infrastructure Partners as part of the September 30, 2024 sale of the South Fork Wind and Revolution Wind projects. GAAP results for the first half of 2026 include an after-tax charge of $43.9 million, or $0.12 per share, related to estimated refunds associated with the Federal Energy Regulatory Commission (FERC) decision of March 19, 2026, that reduced the return on equity (ROE) rate for New England transmission owners from 10.57% to 9.57%.

“During the second quarter, we completed our strategic divestiture of Aquarion Water, further strengthening our balance sheet and positioning Eversource for continued success as a pure-play regulated electric and natural gas delivery company. This focused strategy has already created new opportunities, including our preliminary selection by ISO-NE to develop critical transmission infrastructure that will bring power from northern Maine to southern New England. We are very pleased that the incumbent utilities have been selected for this important project,” said Joe Nolan, Chairman, President and CEO. “As we enter the second half of the year, our priorities remain clear: operating safely and efficiently, delivering reliable service to our customers, executing on our strategic investments and maintaining the financial strength that supports long-term value creation,” said Nolan.

The Company reaffirms its revised earnings guidance for 2026 non-GAAP recurring earnings of between $4.57 per share1 and $4.72 per share1, which includes the impact of the prospective reduction to the transmission ROE rate resulting from the March 2026 FERC order and the absence of Aquarion earnings in the second half of the year. It also reaffirms its cumulative long-term earnings per share growth rate within the range of 5 to 7 percent through 2030, using the adjusted 2026 non-GAAP earnings guidance midpoint of $4.65 per share1 as the base year. Eversource expects annual earnings growth towards the upper half of its long-term guidance by 2028.

Electric Transmission

Eversource Energy’s transmission segment, excluding the FERC ROE refund charge noted above, earned $183.7 million in the second quarter of 2026 and $408.0 million1 in the first half of 2026, compared with earnings of $208.0 million in the second quarter of 2025 and $407.5 million in the first half of 2025. Transmission segment results in both periods reflect the impact from the reduction to the allowed ROE mentioned above, as well as higher interest expense, partially offset by continued investment in Eversource’s electric transmission system.

Electric Distribution

Eversource Energy’s electric distribution segment earned $170.4 million in the second quarter of 2026 and $373.1 million in the first half of 2026, compared with earnings of $161.5 million in the second quarter of 2025 and $350.0 million in the first half of 2025. Improved results in both periods were due primarily to higher revenues from base distribution rate increases at Eversource’s Massachusetts and New Hampshire electric businesses, and continued investments in the Company’s distribution system. The higher revenues were partially offset by higher interest expense, depreciation, and property taxes.

Natural Gas Distribution

Eversource Energy’s natural gas distribution segment earned $29.7 million in the second quarter of 2026 and $325.1 million in the first half of 2026, compared with earnings of $35.3 million in the second quarter of 2025 and $253.7 million in the first half of 2025. Improved results in the first half were due primarily to base distribution rate increases at all of Eversource’s gas businesses, effective November 1, 2025, to recover continued investment in the Company’s natural gas infrastructure, partially offset by higher Operations and Maintenance (O&M), depreciation, property and income taxes, and interest expense. Lower results in the quarter were due primarily to the absence of a benefit in 2025 from previously expensed costs allowed for recovery.

Water Distribution

Eversource Energy’s water distribution segment, excluding the charge related to the sale of Aquarion noted above, earned $11.6 million1 in the second quarter of 2026 and $17.9 million1 in the first half of 2026, compared with earnings of $14.4 million in the second quarter of 2025 and $17.9 million in the first half of 2025. Lower results in the second quarter were due primarily to higher O&M and depreciation expense, partially offset by higher revenues.

Eversource Parent and Other Companies

Eversource Energy parent and other companies, excluding the increase in the offshore wind contingent liability noted above, had a loss of $66.3 million1 in the second quarter of 2026 and $144.3 million1 in the first half of 2026, compared with a loss of $66.5 million in the second quarter of 2025 and $125.6 million in the first half of 2025. Results in both periods were driven by higher interest expense and a higher effective tax rate.

Eversource Energy Consolidated Earnings

The following table reconciles consolidated GAAP earnings per share for the second quarter and the first half of 2026 and 2025:

  Second
QuarterFirst
Half2025Reported GAAP EPS$0.96 $2.45  Electric transmission segment earnings, excluding FERC ROE Refund Charge (0.07) (0.03) Electric distribution segment earnings 0.01  0.04  Natural gas distribution segment earnings (0.02) 0.18  Water distribution segment earnings, excluding Sale of Aquarion Charge (0.01) —  Parent and other companies, excluding Offshore Wind Charge —  (0.04) Offshore Wind Charge (0.43) (0.43) Sale of Aquarion Charge (0.30) (0.30) FERC ROE Refund Charge —  (0.12)2026Reported GAAP EPS$0.14 $1.75          Financial results for the second quarter and the first half of 2026 and 2025 for Eversource Energy’s business segments and parent and other companies are noted below:

Three months ended:      (in millions, except EPS)June 30, 2026June 30, 2025Increase/
(Decrease)2026 EPS12025 EPSIncrease/
(Decrease)Electric Transmission$183.7 $208.0 $(24.3)$0.49 $0.56 $(0.07)Electric Distribution 170.4  161.5  8.9  0.45  0.44  0.01 Natural Gas Distribution 29.7  35.3  (5.6) 0.08  0.10  (0.02)Water Distribution1 11.6  14.4  (2.8) 0.03  0.04  (0.01)Parent and Other Companies1 (66.3) (66.5) 0.2  (0.18) (0.18) — Offshore Wind Charge (164.0) —  (164.0) (0.43) —  (0.43)Sale of Aquarion Charge (111.4) —  (111.4) (0.30) —  (0.30)Reported Earnings$53.7 $352.7 $(299.0)$0.14 $0.96 $(0.82)       Six months ended:      (in millions, except EPS)June 30, 2026June 30, 2025Increase/
(Decrease)2026 EPS12025 EPSIncrease/
(Decrease)Electric Transmission1$408.0 $407.5 $0.5 $1.08 $1.11 $(0.03)Electric Distribution 373.1  350.0  23.1  0.99  0.95  0.04 Natural Gas Distribution 325.1  253.7  71.4  0.86  0.68  0.18 Water Distribution1 17.9  17.9  —  0.05  0.05  — Parent and Other Companies1 (144.3) (125.6) (18.7) (0.38) (0.34) (0.04)Offshore Wind Charge (164.0) —  (164.0) (0.43) —  (0.43)Sale of Aquarion Charge (111.4) —  (111.4) (0.30) —  (0.30)FERC ROE Refund Charge (43.9) —  (43.9) (0.12) —  (0.12)Reported Earnings$660.5 $903.5 $(243.0)$1.75 $2.45 $(0.70)                    Eversource Energy has approximately 377 million common shares outstanding and operates New England’s largest energy delivery system. It serves more than 4 million electric and natural gas customers in Connecticut, Massachusetts and New Hampshire.

CONTACT:
Rima Hyder (Investor Relations)
[email protected]
(781) 441-8882

William Hinkle (Media Relations)
[email protected]
(603) 634-2228

Note: Eversource Energy will webcast a conference call with senior management on July 31, 2026, beginning at 9 a.m. Eastern Time. The webcast and associated slides can be accessed through Eversource Energy’s website at www.eversource.com or directly on the Investor Relations website at investors.eversource.com.  1 All per-share amounts in this news release are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings discussion includes financial measures that are not recognized under generally accepted accounting principles (non-GAAP) referencing 2026 earnings and EPS excluding a charge on the sale of the Aquarion water distribution business, a charge associated with increasing the offshore wind contingent liability, and a charge related to the March 2026 FERC decision in the FERC base ROE complaints. EPS by business is also a non-GAAP financial measure and is calculated by dividing the Net Income Attributable to Common Shareholders of each business by the weighted average diluted Eversource Energy common shares outstanding for the period. The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in Eversource Energy’s assets and liabilities as a whole.

Eversource Energy uses these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain results without including these items. This information is among the primary indicators management uses as a basis for evaluating performance and planning and forecasting of future periods. Management believes the loss on the sale of the Aquarion water distribution business, the charge associated with increasing our offshore wind contingent liability, and the charge related to the March 2026 FERC decision in the FERC base ROE complaints are not indicative of Eversource Energy's ongoing costs and performance. Management views these charges as not directly related to the ongoing operations of the business and therefore not indicators of baseline operating performance. Due to the nature and significance of the effect of these items on Net Income Attributable to Common Shareholders and EPS, management believes that the non-GAAP presentation is a more meaningful representation of Eversource Energy's financial performance and provides additional and useful information to readers of this report in analyzing historical and future performance of the business. These non-GAAP financial measures should not be considered as alternatives to reported Net Income Attributable to Common Shareholders or EPS determined in accordance with GAAP as indicators of Eversource Energy's operating performance.

Eversource Energy does not provide a reconciliation of guidance from non-GAAP recurring earnings or non-GAAP recurring EPS to the most directly comparable GAAP measures because it is not able to predict with reasonable certainty the amount or nature of all items that will be included in Net Income Attributable to Common Shareholders or EPS for the year ending December 31, 2026. These items are uncertain, depend on many factors and could have a material impact on Net Income Attributable to Common Shareholders and EPS for the year ending December 31, 2026, and therefore cannot be made available without unreasonable effort.

Eversource Energy makes statements concerning its expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of U. S. federal securities laws. Readers can generally identify these forward-looking statements through the use of words or phrases such as “estimate,” “expect,” “pending,” “anticipate,” “intend,” “plan,” “project,” “believe,” “forecast,” “would,” “should,” “could” and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause actual results or outcomes to differ materially from those contained in forward-looking statements, including, but not limited to cyber events or breaches, including acts of war or terrorism, affecting our systems or the systems of third parties on which we rely; unauthorized access to, and the misappropriation of, confidential and proprietary Company, customer, employee, financial or system operating information; actions or inaction of local, state and federal regulatory, public policy and taxing bodies; changes in laws, regulations, Presidential executive orders or regulatory policy, including compliance with laws and regulations, which may impact the cost of compliance and strategic initiatives of the Company; adverse publicity, which can harm our reputation, influence legislative and regulatory bodies, and result in unfavorable outcomes; variability in the costs and final investment returns of the Revolution Wind and South Fork Wind offshore wind projects as it relates to the purchase price post-closing adjustment under the terms of the sale agreement for these projects; the ability to qualify for investment tax credits; extreme weather, including severe storms, due to the impacts of climate change, and fluctuations in weather patterns; physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric and natural gas distribution systems; ability or inability to commence and complete our major strategic development projects and opportunities; breakdown, failure of, or damage to operating equipment, information technology systems, or processes of our transmission and distribution systems; changes in levels or timing of capital expenditures, including unplanned expenditures and increased capital expenditure requirements; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model; substandard performance of third-party suppliers and service providers, or counterparties not meeting their obligations; limits on our access to, or increases in, the cost of capital, including disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly; changes in economic conditions, including impact on interest rates, tax policies, tariffs and customer demand and payment ability; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors.

Other risk factors are detailed in Eversource Energy’s reports filed with the Securities and Exchange Commission (SEC). They are updated as necessary and available on Eversource Energy’s website at investors.eversource.com and on the SEC’s website at www.sec.gov, and management encourages you to consult such disclosures.

All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energy’s actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. 

    EVERSOURCE ENERGY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)     For the Three Months
Ended June 30, For the Six Months
Ended June 30,(Thousands of Dollars, Except Share Information) 2026   2025  2026  2025        Operating Revenues$2,903,189  $2,838,068 $7,407,552 $6,956,423        Operating Expenses:       Purchased Power, Purchased Natural Gas and
Transmission 939,514   818,747  2,457,688  2,159,084Operations and Maintenance 480,441   467,557  987,420  955,008Depreciation 423,914   385,595  844,396  765,175Amortization (44,323)  109,103  358,441  564,552Energy Efficiency Programs 173,231   135,290  464,730  392,840Taxes Other Than Income Taxes 278,178   258,727  566,495  530,321Sale of Aquarion 111,360   —  111,360  —Total Operating Expenses 2,362,315   2,175,019  5,790,530  5,366,980Operating Income 540,874   663,049  1,617,022  1,589,443Interest Expense 355,490   293,193  720,749  594,042Loss on Offshore Wind 194,000   —  194,000  —Other Income, Net 144,033   95,363  245,192  187,706Income Before Income Tax Expense 135,417   465,219  947,465  1,183,107Income Tax Expense 79,857   110,611  283,184  275,831Net Income 55,560   354,608  664,281  907,276Net Income Attributable to Noncontrolling Interests 1,880   1,880  3,759  3,759Net Income Attributable to Common Shareholders$53,680  $352,728 $660,522 $903,517        Basic Earnings Per Common Share$0.14  $0.96 $1.76 $2.46        Diluted Earnings Per Common Share$0.14  $0.96 $1.75 $2.45        Weighted Average Common Shares Outstanding:       Basic 376,488,004   368,661,995  376,257,047  367,991,121Diluted 376,998,879   368,917,187  376,791,247  368,297,404              The data contained in this report is preliminary and is unaudited. This report is being submitted for the sole purpose of providing information to shareholders about Eversource Energy and Subsidiaries and is not a representation, prospectus, or intended for use in connection with any purchase or sale of securities.

Key Takeaways Eversource is simplifying its portfolio to focus on regulated electric and natural gas utility operations. The Aquarion Water sale brought nearly $1.7B in net proceeds to reduce debt and strengthen its balance sheet. Eversource plans $26.5B in investments through 2030 to modernize infrastructure and support EPS growth. Eversource Energy (ES - Free Report) is benefiting from its transition to a pure-play regulated electric and natural gas utility. This portfolio simplification reduces business risk, strengthens cash flow and supports consistent earnings growth through constructive regulatory outcomes and disciplined infrastructure investments.

On June 30, 2026, Eversource completed the sale of its Aquarion Water Company, receiving nearly $1.7 billion in net proceeds to reduce debt. The transaction improves the balance sheet and sharpens the company's focus on its core regulated electric and natural gas businesses, supporting long-term earnings growth.

The company plans to invest $5.07 billion in 2026 and $26.5 billion through 2030, with an additional $1 billion of potential investment opportunities. These investments are expected to improve grid reliability, modernize energy infrastructure and enhance service reliability, supporting long-term regulated earnings growth.

The company's regulated business model allows it to recover eligible infrastructure investments through rate hikes, providing steady cash flows and greater earnings visibility. Despite the sale of Aquarion Water Company, Eversource expects its long-term EPS growth of 5-7% through 2030, reflecting confidence in its regulated utility strategy.

Overall, Eversource's constructive regulatory environment, expanding regulated investment plan, stronger balance sheet and disciplined capital allocation provide a solid foundation for sustainable earnings growth and long-term shareholder value.

Streamlined Utility Portfolio Supports Earnings GrowthUtility companies are streamlining their portfolios by divesting non-core businesses and focusing on regulated operations, improving earnings visibility. This strategy enhances financial flexibility, supports efficient capital deployment and drives sustainable cash flow generation.

NextEra Energy (NEE - Free Report) is further strengthening its regulated utility focus through its planned acquisition of Dominion Energy, creating a business with more than 80% regulated operations and a streamlined growth platform.

Spire Inc. (SR - Free Report) is benefiting from strategic portfolio optimization, supported by the acquisition of Piedmont Natural Gas Tennessee and the divestiture of its non-core businesses, Spire Marketing and Spire Storage.

ES’ Earnings EstimatesThe Zacks Consensus Estimate for 2026 EPS indicates a year-over-year decrease of 1.68%, while the estimate for 2027 EPS suggests a 6.32% increase.

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ES’ Returns on Equity (ROE)Eversource's trailing-12-month ROE is 11.59%, higher than the industry average of 11.21%.

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ES’ Stock Price PerformanceIn the past month, the company’s shares have risen 6.7% compared with the industry’s 3.4% growth.

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ES’ Zacks Rank