Eversource Slashes 2026 EPS Guidance Despite Q1 Revenue Beat
ES sits 15% above its 52-week low of $58.92.
Summary
Eversource Energy has significantly cut its 2026 non-GAAP recurring EPS guidance to $4.57-$4.72 from the previous $4.80-$4.95, a material reduction for a utility company. This revised outlook comes despite the company reporting a beat on Q1 revenue and net income, with revenue reaching $4.50 billion against estimates of $4.12 billion, and net income of $608.7 million. The results also include a $43.9 million after-tax charge related to a FERC order reducing the allowed return on equity for transmission, which the company is challenging. While Eversource reaffirmed its long-term 5-7% compound annual EPS growth rate through 2030, the immediate guidance cut is a negative signal for investors and could pressure the stock, as forward guidance is a critical valuation driver for utilities. Traders will be watching for further details on the FERC legal actions and any potential impact on future earnings.
At the time of this announcement, ES was trading at $67.83 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $25.8B. The 52-week trading range was $58.92 to $76.41. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.