ES · 10-Q · 2026Q3 · Full report

Aquarion Sale Debt Reduction

EVERSOURCE ENERGY · 2026-11-06 · Importance 53 · Surprise 60 · From source text

Eversource completed the sale of Aquarion to the Aquarion Water Authority on June 30, 2026, for an approximately $2.4 billion transaction purchase price, including approximately $650 million of long-term debt repaid at closing or transferred to the buyer. The sale generated a $111.4 million non-cash after-tax charge, and Eversource derecognized approximately $2.0 billion of net property, plant and equipment and $662.4 million of goodwill. PURA approval required a $10 million contribution to a customer rate stabilization fund and return of $5.8 million of revenues held in escrow; additional transaction costs were $29 million. Eversource stated it has no post-closing obligations other than a working-capital true-up expected to be resolved in the fourth quarter of 2026.

Key facts

• Eversource's water distribution earnings decreased $130.3 million in the first nine months of 2026, primarily due to the $111.4 million after-tax Aquarion sale charge and the absence of Q3 2026 earnings after the sale.
• Eversource completed the Aquarion sale on June 30, 2026, for an approximately $2.4 billion transaction purchase price, including approximately $650 million of long-term debt repaid at closing or transferred to the buyer.
• At the Aquarion sale closing, Eversource repaid $612.4 million of long-term debt.
• Water distribution revenues declined $69.2 million in the third quarter and $64.5 million in the first nine months of 2026 because Aquarion was sold on June 30, 2026.
• Eversource's final Aquarion purchase price adjustment for the working capital true-up was expected to be resolved in Q4 2026.
• Aquarion sale conditions required Eversource to contribute $10 million to a rate stabilization fund and return $5.8 million of escrowed revenues to customers; transaction costs were $29 million.

Impact estimates