Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Q2 2025 Earnings Presentation
24 slides from Eversource Energy (d/b/a)'s earnings presentation, Aug 1, 2025
Slide 1: Eversource Energy Q2 2025 Earnings Report
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT August 1, 2025
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Q2 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 first half and second quarters 2025 and 2024 earnings dis
Slide 3: Agenda
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Business Update Key Strategic Priorities Quarterly Highlights Agenda Joe Nolan Chairman, President & CEO Financial Update Q2 2025 Financial Results Regulatory Update Balance Sheet & Credit Metrics John Moreira EVP, CFO & Treasurer 2
Slide 4: Business Update
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT AUGUST 1, 2025 Business Joe Nolan Update Chairman, President & Chief Executive Officer
Slide 5: Our Key Strategic Priorities for 2025
EVERSOURCE ENERGY Q2 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: Second Quarter Highlights
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Second Quarter Highlights EPS of $0.96 Slightly better than prior year 2025 and Long-Term Guidance Reaffirm 2025 EPS guidance of $4.67 - $4.82 and long-term EPS growth rate of 5% - 7% through 2029 Reliability & Storm Restoration Top decile reliability
Slide 7: Investing in Infrastructure for a Strong Grid
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Investing in Infrastructure for a Strong Grid AMI Deployment in Massachusetts – AMI communication network in western MA substantially complete; network installation in eastern MA commenced – Smart meter installation started in western MA Cambridge Underg
Slide 8: Revolution Wind Onshore Substation – As of July 24, 2025
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Revolution Wind Onshore Substation – As of July 24, 2025 7
Slide 9: Financial Update
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT AUGUST 1, 2025 Financial John Moreira Update Executive Vice President, Chief Financial Officer & Treasurer
Slide 10: Second Quarter and First Half 2025 Financial Results
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Second Quarter and First Half 2025 Financial Results 2Q 2025 2Q 2024 Change 1H 2025 1H 2024 Change Electric Transmission $0.56 $0.54 $0.02 $1.11 $1.04 $0.07 Electric Distribution 0.44 0.42 0.02 0.95 0.90 0.05 Natural Gas Distribution 0.10 0.08 0.02 0.68 0.61
Slide 11: New Hampshire Rate Case Highlights
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT New Hampshire Rate Case Highlights – Decision received July 25, 2025 PSNH filed June 2024 for a $182 million increase, revised to $103 million in June 2025 after moving deferred storm costs to another docket Received permanent rate increase of $100 milli
Slide 12: Regulatory Progress in Massachusetts and Connecticut
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Regulatory Progress in Massachusetts and Connecticut Massachusetts EGMA Rate Base Reset for rates effective November 1, 2024 – November 2024 rate increase of $77 million – November 2025 rate increase of $62 million NSTAR Gas PBR adjustment for rates effe
Slide 13: 2025 – 2029 Projected Capital Expenditures for Core Businesses
EVERSOURCE ENERGY Q2 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 $213 $260 $256 $225 $227 investments during this $162 $163 $1,16
Slide 14: Continued Progress Strengthening Balance Sheet & Credit Metrics
EVERSOURCE ENERGY Q2 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 Threshold: 13% Track record of executing on FFO enhanceme
Slide 15: Cash Flow Enhancement Drivers
EVERSOURCE ENERGY Q2 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 Incremental Storm Cost Recovery $200 Constructive Cost Recovery for Incremental Distribution In
Slide 16: 2025 Parent Debt and Equity Issuances and Maturities
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT 2025 Parent Debt and Equity Issuances and Maturities 2025 Maturities Equity Issuances Company Size/Coupon Maturity New Shares Parent $300M @ 3.15% Jan 15, 2025* At-The-Market Program for $1.2 billion of equity Parent $300M @ 0.80% Aug 15, 2025 issued 3.4 m
Slide 17: Proven Track Record of Earnings and Dividend Performance
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT Proven Track Record of Earnings and Dividend Performance $4.67 $4.57 -$4.82 $4.34 $4.09 $3.86 $3.45 $3.64 $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, ex
Slide 18: Q&A
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT AUGUST 1, 2025 Q&A 17
Slide 19: Appendix
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT APPENDIX 18
Slide 20: Eversource - A Pure Play Pipes and Wires Regulated Utility
EVERSOURCE ENERGY Q2 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 $23B TOTAL ASSETS CURRENT MAR
Slide 21: $1.9 Billion Increase in 2025-2028 Core Business Investments
EVERSOURCE ENERGY Q2 2025 EARNINGS REPORT $1.9 Billion 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 22: Rate Base Growth Driven by Regulated Businesses
EVERSOURCE ENERGY Q2 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 23: Pure Play Pipes and Wires Regulated Utility Rate Base Growth 2023 to 2029
EVERSOURCE ENERGY Q2 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 24: Eversource Recognition
EVERSOURCE ENERGY Q2 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
Eversource Energy (D/B/A) — Q2 2025 Earnings Presentation on 6ix