ES · 10-Q · 2026Q3 · Full report

Net Income and Profitability

EVERSOURCE ENERGY · 2026-11-06 · Importance 18 · Surprise 14

Regulated Companies’ GAAP net income was $339.5 million in the third quarter of 2026, down $69.7 million from $409.2 million in the third quarter of 2025; for the first nine months, it was $1.308 billion, down $130.0 million year over year. Electric Distribution earnings fell $20.7 million in the quarter, mainly from storm costs disallowed by PURA, higher depreciation, interest expense and property taxes, partly offset by rate increases and capital-tracking revenues. Natural Gas Distribution losses widened $26.6 million in the quarter because seasonal rate design shifted revenue recovery and depreciation, interest and operating costs rose; nine-month earnings increased $44.7 million, mainly from rate increases and capital-tracking revenues. Water Distribution earnings declined $130.3 million for the first nine months, including a $111.4 million after-tax Aquarion sale charge; excluding that charge, the decrease was $18.9 million because Aquarion was no longer owned after June 30, 2026.

Key facts

• Eversource's regulated-company net income was $339.5 million in Q3 2026 versus $409.2 million in Q3 2025, and $1,308.3 million in the first nine months of 2026 versus $1,438.3 million in the comparable 2025 period.
• Eversource's parent and other companies' Q3 2026 earnings increased $48.2 million year over year, primarily because the 2025 period included a $75.0 million after-tax offshore wind charge.
• CL&P’s earnings decreased $49.9 million for the nine months ended September 30, 2026, primarily due to disallowed storm costs and the FERC ROE decision, among other factors.
• NSTAR Electric’s earnings decreased $13.2 million for the nine months ended September 30, 2026.
• PSNH’s earnings increased $18.9 million for the nine months ended September 30, 2026.
• Eversource’s three-month 2026 operating income was $629.7 million, down $59.0 million from 2025; nine-month operating income was $2,246.8 million, down $31.3 million.
• Higher shares outstanding diluted Eversource earnings per share by $0.01 in Q3 2026 and $0.05 in the first nine months of 2026 compared with the corresponding 2025 periods.
• For the three months ended September 30, 2026, Eversource reported net income of $347.9 million and net income attributable to common shareholders of $346.0 million.