Eversource Energy Reports First Quarter 2026 Results

About this update from Eversource Energy (d/b/a)

HARTFORD, Conn. & BOSTON, May 06, 2026--(BUSINESS WIRE)--Eversource Energy (NYSE: ES) today reported GAAP earnings of $606.8 million, or $1.61 per share, for the first quarter of 2026, compared with GAAP and non-GAAP earnings of $550.8 million, or $1.50 per share, for the first quarter of 2025. Non-GAAP recurring earnings totaled $650.7 million1, or $1.73 per share1, in the first quarter of 2026. Also today, the Eversource Energy Board of Trustees approved a common dividend of $0.7875 per share, payable June 30, 2026, to shareholders of record as of May 18, 2026. GAAP results for the first quarter of 2026 include an after-tax charge of $43.9 million, or $0.12 per share, related to the Federal Energy Regulatory Commission (FERC) decision of March 19, 2026 that reduced the return on equity (ROE) rate for New England transmission owners from 10.57% to 9.57%. The order required refunds for the 15-month first complaint period beginning October 1, 2011 to December 31, 2012 and retroactively from October 16, 2014 forward with interest. The first quarter after-tax charge represents an estimated loss reflecting refunds associated with this 15-month complaint period, including interest. Eversource has taken several legal actions, including filing a rehearing request at FERC, an extension of the refund timing, and a motion for stay of the order. The Company also submitted a Section 205 filing with FERC, which is a formal request to change the ROE rate prospectively, proposing a replacement ROE of 11.39% based on current market data and using the same methodology that FERC used to derive the 9.57% rate based on market data from October 2012 to March 2013. The new ROE rate of 11.39% is expected to be effective later this year on a subject to refund basis. "Eversource Energy's first quarter performance was highlighted by our team's strong response to a historic Nor'easter that brought blizzard conditions, record snowfall, and a significant number of power outages to our service area," said Joe Nolan, Chairman, President and CEO. "Also, in the quarter, we were very disappointed with FERC’s arbitrary and flawed ROE reduction, especially at a time when New England needs significant transmission investments to bring incremental generation in the region that would lower costs for customers. Eversource will continue to vigorously pursue all act...

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