Eversource Energy

Company facts

Industry

Electric Services

Headquarters

Springfield, Massachusetts

Most recent report

10-Q, filed Aug 3, 2026

Incorporated

Massachusetts

Filings on record

1,001+ filings

On EDGAR

CIK 72741

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 4 of 14 sections worth reading, with 3 positive, 7 notable, and 10 negative flags.

• COMBINED NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

  Contains major events: Aquarion sale, offshore wind charge, FERC ROE refund, storm decision.
  Notable

  • Aquarion sold for ~$2.4B, net equity $1.7B to reduce parent debt; $111.4M loss recognized.
  • After quarter, PURA approved $869.4M storm costs but denied some carrying costs; CL&P may sue.
  Negative

  • FERC ROE refund range up to $968.4M; $62M recorded as liability; appeals ongoing.
  • Recognized $194M pre-tax charge to increase offshore wind liability to $409.2M at June 30, 2026.

• Management's Discussion and Analysis of Financial Condition and Results of Operations

  Large charges, Aquarion sale, FERC ROE cut, and rate case filings require detail.
  Positive

  • Operating cash flow rose to $2.41B in H1 2026 from $2.10B in H1 2025, up 15%.
  • Moody's revised Eversource and NSTAR Electric outlook from negative to stable.
  Notable

  • Issued $2.40B new long-term debt and repaid $1.62B in H1 2026; net debt increased.
  • CL&P filed rate case on July 14, 2026 seeking $451M annual revenue increase with multi-year plan.
  • ISO-NE selected joint proposal with Eversource for transmission project; Eversource share ~$700M.
  • FERC suspended NETOs' proposed 11.39% ROE increase until Nov 30, 2026, subject to refund.
  Negative

  • GAAP EPS fell to $0.14 in Q2 2026 from $0.96 in Q2 2025 on $0.85 in charges.
  • PURA approved only $869M of $974M in CL&P storm costs; $63M postponed; CL&P evaluating action.
  • Offshore wind contingent liability still $409M; further increases are possible.
  • FERC ROE cut from 10.57% to 9.57% will reduce annual after-tax earnings by ~$70M.
  • New FERC complaint challenges CL&P's 50-bps RTO ROE adder; outcome uncertain.

• RESULTS OF OPERATIONS –

  Company-specific results with quantified FERC charge and earnings changes.
  Positive

  • PSNH net income up $21.6M to $151.8M from base rate increase effective August 1, 2025.
  Notable

  • NSTAR Hydro-Québec PPA started Q1 2026, adding wholesale sales and tracked costs.
  Negative

  • FERC decision imposed $20.8M after-tax charge at CL&P, $17.6M at NSTAR Electric for H1 2026.
  • CL&P operating cash flow dropped $255.7M to $497.9M, mainly from $195.1M more tax payments.

• Risk Factors (Item 1A)

  Material FERC refund order directly impacts finances; repeats from 10-K but is company-specific.
  Negative

  • FERC ordered refunds with interest spanning nearly 12 years; the amount is material and hits financials and cash flows.

What changed: Jun 2026 vs. Mar 2026

About 10% of ES's Jun 2026 10-Q is new information. 70 paragraphs were added, 214 changed, and 50 removed. Below are the most important lines SECSift identified.

• Management's Discussion and Analysis of Financial Condition and Results of Operations 78
• COMBINED NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) 65
• RESULTS OF OPERATIONS – EVERSOURCE ENERGY AND SUBSIDIARIES 29
• RESULTS OF OPERATIONS – 27
• Item 6 5
• Item 3 2
• Item 4 2
• Item 1A 1