Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Q3 2025 Earnings Presentation
23 slides from Eversource Energy (d/b/a)'s earnings presentation, Nov 5, 2025
Slide 1: Eversource Energy Q3 2025 Earnings Report
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT November 5, 2025
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The third quarter and first nine months of 2025 and 2024 earn
Slide 3: Agenda
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Business Update Key Strategic Priorities Quarterly Highlights Agenda Joe Nolan Chairman, President & CEO Financial Update Q3 2025 Financial Results Regulatory Update Balance Sheet & Credit Metrics John Moreira EVP, CFO & Treasurer 2
Slide 4: Business Update
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Business Joe Nolan Update Chairman, President & Chief Executive Officer
Slide 5: Our Key Strategic Priorities for 2025
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Our Key Strategic Priorities for 2025 Fully Regulated Focus on being a 100% regulated utility making investments in line with state Business Model policies keeping in mind customer reliability and affordability 5-Year Capital Commence capital investment in E
Slide 6: Progress Across Eversource
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Progress Across Eversource A shift in the CT regulatory environment New commissioners at PURA Yankee Gas rate case and sale of Aquarion making headway Offshore wind construction progress Onshore substation substantially complete; overall project moving
Slide 7: Robust and Resilient Load Growth Provides Many Opportunities
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Robust and Resilient Load Growth Provides Many Opportunities Load Growth Drivers Investment Opportunities Electrification Growing Transmission Investment Decarbonization Opportunistic Land Acquisitions Economic Expansion New Substation Development 6
Slide 8: Focused on Affordability
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Focused on Affordability Rate Design Efficiency and Support for Customers Transparency Smoothing high bills to avoid Expanded incentives for Low-income discount rates rate shocks customers adopting efficient technologies Interconnecting new generatio
Slide 9: Financial Update
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Financial John Moreira Update Executive Vice President, Chief Financial Officer & Treasurer
Slide 10: Third Quarter and Nine Months 2025 Financial Results
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Third Quarter and Nine Months 2025 Financial Results 3Q 2025 3Q 2024 Change 9M 2025 9M 2024 Change Electric Transmission $0.50 $0.49 $0.01 $1.60 $1.52 $0.08 Electric Distribution 0.60 0.57 0.03 1.55 1.47 0.08 Natural Gas Distribution (0.05) (0.09) 0.04 0.64
Slide 11: Regulatory Progress Across Our Service Territories
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Regulatory Progress Across Our Service Territories Connecticut Yankee Gas Rate Case Filing – Final Decision expected November 5, 2025 Sale of Aquarion – Final Decision expected November 19, 2025 RAM Decision adopting our proposals to mitigate rate shoc
Slide 12: 2025 – 2029 Projected Capital Expenditures for Core Businesses
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT 2025 – 2029 Projected Capital Expenditures for Core Businesses* $24.2 Billion 2025-2029 $5,500 $5,009 $4,912 $5,000 $4,645 $4,721 $222 $222 $4,776 $4,754 Potential for incremental $4,593 $4,500 $260 $256 $225 $227 investments during this $213 $162 $163 $1,16
Slide 13: Continued Progress Strengthening Balance Sheet & Credit Metrics
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Continued Progress Strengthening Balance Sheet & Credit Metrics Ratings Agency Downgrade Thresholds & FFO to Debt Results Balance Sheet & Credit Rating Priorities: Maintaining solid credit ratings 14.6% Track record of executing on FFO enhancement Thresh
Slide 14: Cash Flow Enhancement Drivers
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Cash Flow Enhancement Drivers $ in millions 2024 & 2025 Beyond 2025 2023 Under Recoveries $600 Rate Increases South Fork Wind Tax Equity Investment $500 Constructive Cost Recovery for Incremental Distribution Investment Incremental Storm Cost Recov
Slide 15: 2025 Parent Debt and Equity Issuances and Maturities
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT 2025 Parent Debt and Equity Issuances and Maturities 2025 Issuances Equity Issuances Company Size/Coupon Maturity Parent $600M @ 4.45% Dec 15, 2030 New Shares At-The-Market Equity Program for $1.2 billion 2025 Maturities Issued 7.1 million shares through S
Slide 16: Proven Track Record of Earnings and Dividend Performance
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Proven Track Record of Earnings and Dividend Performance $4.72 $4.57 -$4.80 $4.34 $4.09 $3.86 $3.64 $3.45 $3.11 $3.25 $2.81 $2.96 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023A* 2024A* 2025E* 2026E 2027E 2028E 2029E * Reflects non-GAAP results, e
Slide 17: Q&A
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Q&A 16
Slide 18: Appendix
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT APPENDIX 17
Slide 19: Eversource - A Pure Play Pipes and Wires Regulated Utility
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Eversource - A Pure Play Pipes and Wires Regulated Utility & the Largest in the New England Region 4.5K 60K 4.6M TRANSMISSION DISTRIBUTION MILES CUSTOMERS MILES 19K Underground Lines 3.4M Electric, 901k Gas, 248k Water $60B $31B $27B TOTAL ASSETS CURRENT MAR
Slide 20: $1.9B or 10% Increase in 2025-2028 Core Business Investments
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT $1.9B or 10% Increase in 2025-2028 Core Business Investments Primarily in Transmission $2,000 ~$1.9 Billion $27 $1,800 Feb 2024 Plan* Feb 2025 Plan* $304 $1,600 5% 5% $1,400 26% 28% $1,200 $601 24% 25% $ in Millions $1,000 $800 $600 $923 44% 43% $400 $200 El
Slide 21: Rate Base Growth Driven by Regulated Businesses
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Rate Base Growth Driven by Regulated Businesses $41.9 billion* 23% * Rate base estimates exclude certain CWIP balances which $26.4 billion* totaled approximately $2.2 billion at 20% 43% the end of 2023 and are expected to increase to approximately $3.3 billi
Slide 22: Pure Play Pipes and Wires Regulated Utility Rate Base Growth
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Pure Play Pipes and Wires Regulated Utility Rate Base Growth 2023 to 2029* 2029 (Forecasted) 7% 2023 6% 21% 35% 35% 29% 37% 30% Transmission MA (D) CT (D) NH (D) Transmission MA (D) CT (D) NH (D) * The rate base amounts for 2023 and 2029 exclude investments
Slide 23: Eversource Recognition
EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Eversource Recognition Named as one of America’s Climate Recognized for the 6th year in a row in Named the #1 utility and for the 6th Included as a constituent of the Leaders by USA TODAY and Statista Newsweek’s list of America’s Most consecutive year includ
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