Eversource Energy reported third quarter 2026 non-GAAP earnings of $0.92 per share, missing the consensus estimate of $0.97. Results were primarily impacted by higher interest expenses, increased property taxes, and the regulatory reduction of allowed return on equity (ROE) for New England transmission owners from 10.57% to 9.57%. Despite the quarterly miss, the company raised the midpoint of its full-year 2026 non-GAAP recurring earnings guidance to $4.66 per share.
Key Highlights
- Total operating revenues declined 7.5% year-over-year to $2.98 billion, falling short of the $3.41 billion estimate following the divestiture of Aquarion Water.
- Electric distribution earnings fell to $200.9 million from $221.6 million in the prior year, pressured by disallowed storm costs and higher depreciation and interest expense.
- Natural gas distribution reported a seasonal loss of $43.4 million, widened from a $16.8 million loss in Q3 2025, driven by a shift in rate design timing in Massachusetts.