Eversource Q2 Net Income Plunges on Charges, but Backs 2026 EPS View
ES sits 20% above its 52-week low of $61.53.
Summary
Eversource's Q2 net income collapsed to $53.7M, or $0.14 per share, dragged down by charges tied to the Aquarion sale and offshore wind liabilities. The company reaffirmed its 2026 non-GAAP recurring EPS guidance of $4.57-$4.72, signaling that the core business remains on track despite the one-time hits. Lower transmission earnings from a reduced allowed ROE and higher interest costs added pressure, though base rate increases helped distribution results. The reaffirmed outlook follows the guidance cut in May, suggesting management sees the worst of the regulatory and restructuring impacts as priced in. With the stock near its 52-week high, the market appears to be looking past the noisy quarter to the steady earnings growth expected toward the upper half of guidance by 2028.
At the time of this announcement, ES was trading at $73.85 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $27.8B. The 52-week trading range was $61.53 to $76.57. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.