Q2 2026 Eversource Energy Earnings Call Transcript
Key Points
- Eversource Energy (ES) completed the sale of Aquarion, generating $1.7 billion in net proceeds, strengthening its balance sheet and positioning as a pure-play regulated utility.
- The company reaffirmed its long-term EPS growth guidance of 5% to 7%, with confidence in achieving the upper half of this range by 2028.
- Moody's upgraded Eversource Energy (ES)'s outlook from negative to stable, reflecting improved financial strength and execution.
- Eversource Energy (ES) was preliminarily selected by ISO New England for a $2.2 billion transmission project, with its share at $700 million, enhancing growth opportunities.
- The company received a final storm cost decision in Connecticut, allowing securitization of approximately $670 million, with no equity issuance expected for the remainder of 2026.
- Eversource Energy (ES) recognized an additional $164 million after-tax charge related to the Revolution Wind contingent liability due to cost increases from stop work orders.
- The FERC ROE decision reduced the base transmission ROE to 9.57%, negatively impacting earnings and requiring ongoing legal challenges.
- PURA denied recovery of carrying charges on storm costs in Connecticut, which Eversource Energy (ES) is evaluating for appeal.
- The CLMP rate case filing requests a $451 million revenue deficiency, which would result in an 11% increase in customer bills, potentially facing regulatory and political hurdles.
- The AMI proposal in Connecticut has a negative NPV on a net benefit basis, raising concerns about its cost-effectiveness and approval prospects.
Good day everyone and thank you for standing by. Welcome to Eversource Energy Second Quarter 2026 Earnings Call. (Operator Instructions) Please be advised that today's conference is being recorded.
Now it's my pleasure to hand the conference to the Vice President of Investor Relations, Rima Haider. Please proceed.
Good morning, and thank you for joining us today on our second quarter 2026 earnings call.
During this call, we'll be referencing slides that are available on our website at investors.eversource.com.
As you can see on slide 1, some of the statements made during this investor call may be forward-looking.
These statements are based on management's current expectations and are subject to risk and uncertainty, which may cause the actual results to differ materially from forecasts and projections.
We undertake no obligation to update or revise any of these statements.
Additional information about the various factors that may cause actual
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