Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Q1 2026 Earnings Presentation
23 slides from Eversource Energy (d/b/a)'s earnings presentation, May 7, 2026
Slide 1: Eversource Energy Q1 2026 Earnings Report
Q1 2026 EARNINGS REPORT May 7, 2026 Eversource Energy Q1 2026 Earnings Report MAY 7, 2026
Slide 2: Safe Harbor Statement
Q1 2026 EARNINGS REPORT May 7, 2026 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 earnings discussion includes financial measures that are not re
Slide 3: Agenda
Q1 2026 EARNINGS REPORT May 7, 2026 Business Update 2026 Key Strategic Priorities Resolution of Key Items Strategic State Policy Updates Joe Nolan Agenda Chairman, President & CEO Financial Update Q1 2026 Financial Results FERC ROE and Regulatory Update 2026 Revised Earnings Guidance F
Slide 4: Business Update
Q1 2026 EARNINGS REPORT Q1 2026 EARNINGSMay 7, 2026 REPORT Business Joe Nolan Update CHAIRMAN, PRESIDENT & CHIEF EXECUTIVE OFFICER 3
Slide 5: Our Key Strategic Priorities for 2026
Q1 2026 EARNINGS REPORT May 7, 2026 Our Key Strategic Priorities for 2026 Deliver Top-Tier Maintain high reliability, enhance customer experience and ensure the safety of our Performance workforce Execute on Capital Robust capital investment plan of $26.5 billion through 2030 that is focused on Inve
Slide 6: February 2026 Blizzard and Restoration Effort
Q1 2026 EARNINGS REPORT May 7, 2026 February 2026 Blizzard and Restoration Effort 41” Peak Snowfall 77mph Peak Wind 500K Outages 200 Broken Poles 100 Damaged Transformers Image Credit: Boston Globe 5
Slide 7: Resolving Key Items: Derisking Our Business Profile
Q1 2026 EARNINGS REPORT May 7, 2026 Resolving Key Items: Derisking Our Business Profile Aquarion Sale Revolution Wind FERC ROE Decision PURA approved transaction First power achieved Refund extension granted Appeal period pending ~95% complete Motion for stay filed in court $88M rate c
Slide 8: Strategic State Policy Updates
Q1 2026 EARNINGS REPORT May 7, 2026 Strategic State Policy Updates Massachusetts Executive Order to Secure Massachusetts’ Energy Future – Strengthen energy reliability, affordability and independence – Addresses region’s growing energy supply needs Connecticut CL&P Rate Case Filing – Letter of i
Slide 9: Financial Update
Q1 2026 EARNINGS REPORT Q1 2026 EARNINGSMay 7, 2026 REPORT Financial John Moreira Update EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER & TREASURER 8
Slide 10: Q1 2026 vs. Q1 2025 Financial Results
Q1 2026 EARNINGS REPORT May 7, 2026 Q1 2026 vs. Q1 2025 Financial Results 1Q 2026 1Q 2025 Change Electric Transmission (Non-GAAP) $0.60 $0.54 $0.06 Electric Distribution 0.54 0.51 0.03 Natural Gas Distribution 0.78 0.60 0.18 Water Distribution 0.02 0.01 0.01 Parent & Other (0.21) (0.16) (0.05) EPS (
Slide 11: Procedural Background: FERC's ISO-NE Transmission ROE Decision
Q1 2026 EARNINGS REPORT May 7, 2026 Procedural Background: FERC’s ISO-NE Transmission ROE Decision In March 2026, FERC finally issued a decision Procedural Timeline related to complaints against the ISO-NE 15-Year Period transmission owners Decision resulted in a reduction of the authorized base
Slide 12: Financing Needs 2026-2030
Q1 2026 EARNINGS REPORT May 7, 2026 Financing Needs 2026-2030 $1.5B hybrid Projected Cash Flows and Financing Activities offering closed February 2026 Cash Uses Cash Sources Common Equity $0.8 - $1.1B (2.0%) Majority of financing met through Debt and alternative cash from operations financing soluti
Slide 13: FFO to Debt Enhancement Strategy Resulted in >100 Bps of Cushion
Q1 2026 EARNINGS REPORT May 7, 2026 FFO to Debt Enhancement Strategy Resulted in >100 Bps of Cushion at Both Agencies S&P Moody’s 14.5% 14.2% 12.0% 9.2% December 2024 December 2025 December 2024 December 2025 220 Bps of Credit Cushion (12% Downgrade Threshold) 150 Bps of Credit Cushion (13% Downgrad
Slide 14: 2026 – 2030 Projected Capital Infrastructure Investments
Q1 2026 EARNINGS REPORT May 7, 2026 2026 – 2030 Projected Capital Infrastructure Investments Represents $2.3 billion increase as compared to prior five-year forecast $27.8 Billion including Aquarion investments of $1.3 Billion $26.5 BILLION 2026-2030 * $6,000 $5,536 $5,500 $5,352 $5,379 Potential fo
Slide 15: 2026 Revised non-GAAP EPS Guidance
Q1 2026 EARNINGS REPORT May 7, 2026 Key 2026 Earnings Drivers Transmission capital investments 2026 Revised Base rate changes in CT, MA and NH non-GAAP Capital recovery mechanisms EPS Guidance Controlled operations and maintenance expenses $4.57–$4.72* Original Guidance Higher depreciation
Slide 16: Earnings Expectations & Strategic Focus Areas to Support Future Growth
Q1 2026 EARNINGS REPORT May 7, 2026 Earnings Expectations & Strategic Focus Areas to Support Future Growth Regulatory Outcomes & Strategic Upcoming Regulatory & Longer-Term Implications for Initiatives to Drive Earnings Growth Strategic Milestones (2026) Eversource (2027 & Beyond) in 2027 & Beyond R
Slide 17: Q&A
Q1 2026 EARNINGS REPORT May 7, 2026 Q&A 16
Slide 18: Appendix
Q1 2026 EARNINGS REPORT May 7, 2026 Appendix 17
Slide 19: Eversource - A Pure Play Regulated Utility & the Largest in New England
Q1 2026 EARNINGS REPORT May 7, 2026 Eversource - A Pure Play Regulated Utility & the Largest in the New England Region 4.5K 59.9K 4.6M TRANSMISSION DISTRIBUTION MILES CUSTOMERS 3.5M Electric, 897K Gas, MILES 19K Underground Lines 249K Water $64B $35B $25B CURRENT MARKET TOTAL ASSETS 2025 RATE BASE C
Slide 20: Proven Track Record of Earnings and Dividend Performance
Q1 2026 EARNINGS REPORT May 7, 2026 Proven Track Record of Earnings and Dividend Performance 6% EPS 10-Year Growth Rate $4.76 $4.57 $4.57 -$4.72 $4.34 $4.09 $3.86 $3.64 $3.45 $3.11 $3.25 $2.96 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023A* 2024A* 2025A* 2026E 2027E 2028E 2029E 2030E * Reflects
Slide 21: Junior Subordinated Notes Issuance Summary
Q1 2026 EARNINGS REPORT May 7, 2026 Junior Subordinated Notes Issuance Summary Issuer Eversource Energy Security / Ranking Junior Subordinated Notes Format SEC-Registered Expected Security Baa3 (Negative) / BBB- (Stable) / BB+ (Negative) Ratings (M/S/F) 1 Size $1.5 Billion ($750 million NC5.25 and $
Slide 22: 2026 Parent Debt and Equity Issuances and Maturities
Q1 2026 EARNINGS REPORT May 7, 2026 2026 Parent Debt and Equity Issuances and Maturities 2026 JUNIOR SUBORDINATED NOTES ISSUANCES Equity Issuances Company Size/Coupon Maturity New Shares Parent $750M @ 6.10% Aug 15, 2056 At-The-Market Program for $1.2 billion issued Parent $750M @ 6.35% Aug 15, 20
Slide 23: Eversource Recognition
Q1 2026 EARNINGS REPORT May 7, 2026 Eversource Recognition Named as one of America’s Climate Leaders For the 7th year in a row Eversource was Eversource was recognized in Newsweek’s list of by USA TODAY and Statista for the 3rd year recognized in Newsweek’s list of the Most Trustworthy Companies In
Eversource Energy (D/B/A) — Q1 2026 Earnings Presentation on 6ix