Eversource Energy Reports Q1 Earnings, Reaffirms Lowered 2026 Guidance Amid FERC ROE Decision

summarizeSummary

Eversource Energy reported a Q1 earnings beat but reaffirmed its previously lowered 2026 guidance, impacted by a significant FERC ROE reduction and associated charge.

check_boxKey Events

• Q1 2026 Earnings Beat

  Reported GAAP earnings of $1.61 per share, up from $1.50 in Q1 2025, and non-GAAP recurring earnings of $1.73 per share.

• Reaffirmed Lowered 2026 Guidance

  Reaffirmed the revised 2026 non-GAAP recurring EPS guidance of $4.57-$4.72, a reduction from the original $4.80-$4.95 range, initially announced on March 31, 2026.

• FERC ROE Decision Impact

  Q1 results include a $43.9 million ($0.12 per share) after-tax charge due to a Federal Energy Regulatory Commission (FERC) decision reducing the return on equity for transmission owners. The company is pursuing legal challenges.

• Annual Shareholder Meeting Results

  Shareholders elected all nine trustee nominees, approved executive compensation on an advisory basis, and ratified Deloitte & Touche LLP as auditor. A proposal for an independent board chairman was not approved.

auto_awesomeAnalysis

Eversource Energy reported stronger-than-expected first-quarter GAAP earnings of $1.61 per share, up from $1.50 in the prior year, and non-GAAP recurring earnings of $1.73 per share. However, the company reaffirmed its previously revised 2026 non-GAAP recurring EPS guidance of $4.57-$4.72, a reduction from its original range of $4.80-$4.95. This revised guidance reflects the impact of a Federal Energy Regulatory Commission (FERC) decision that reduced the return on equity (ROE) rate for New England transmission owners, resulting in a $43.9 million after-tax charge in Q1. The company is pursuing legal actions against the FERC decision. Investors should monitor the ongoing regulatory challenges and the company's ability to achieve its reaffirmed guidance.