Did Eversource beat or miss consensus estimates last quarter?

What is Eversource's latest dividend and current dividend yield?

What is Eversource's gross profit margin?

What guidance did Eversource's management provide for the next earnings period?

What is the market's earnings forecast for Eversource next quarter?

What is the revenue and EPS growth rate for Eversource year over year?

What were the key takeaways from Eversource's earnings call?

What does Eversource do and what are its main business segments?

- **Regulatory Breakthrough**: Connecticut's new PURA commissioners may enable balanced outcomes, with Yankee rate case resolution providing $104 million in incremental revenue.
- **Revolution Wind Acceleration**: Project 85% complete, targeting COD in mid-2026 (4-5 months ahead of schedule), with first power delivery in H2 2026.
- **Customer-Centric Growth**: Introduced seasonal heat pump rates and low-income discounts, supporting $1.4 billion in customer savings.
- **Financial Strength**: Q3 non-GAAP EPS of $1.19 (+5.3% YoY), with 2025 recurring EPS guidance of $4.72-$4.80, driven by regulatory progress and O&M efficiency.
- **Credit Improvement**: FFO to debt ratio expected to exceed 13% by year-end, up 300+ basis points from 2024.

**【CEO Summary Section】**
- **Regulatory Progress in Connecticut**: New commissioners at PURA may lead to more balanced outcomes, with a proposed alternative resolution for the Yankee rate case that could increase revenues by $104 million. The final decision is expected by November 5.
- **Revolution Wind Update**: Substation construction is complete, with offshore facilities energized by late November. The project is 85% complete, targeting COD in mid-2026, 4-5 months ahead of schedule.
- **Customer Affordability Initiatives**: Introduced seasonal heat pump rates in Massachusetts and low-income discount programs, supporting $1.4 billion in customer savings through energy efficiency.
- **Capital Investments**: On track to invest $5 billion in 2025, including $3.3 billion in transmission and distribution projects, with additional opportunities for $1.5-2 billion in future investments.

**【CFO Financial Commentary】**
- **Q3 2025 Financials**: GAAP EPS of $0.99 (including a $0.20 nonrecurring offshore wind charge), non-GAAP recurring EPS of $1.19, up 5.3% YoY. Segment highlights include:
  - **Transmission**: $0.01 EPS growth from infrastructure investments.
  - **Distribution**: $0.03 EPS growth from rate increases in MA and NH.
  - **Gas**: $0.04 EPS growth from base rate increases.
- **2025 Guidance**: Recurring EPS updated to $4.72-$4.80 (midpoint +5.3%), driven by regulatory progress, storm cost recovery, and O&M discipline.
- **Credit Metrics**: FFO to debt ratio expected to exceed 13% by year-end, up 300+ basis points from 2024.
- **Liquidity**: Issued $600 million parent debt and $465 million under ATM program, with no near-term equity needs.

**【Q&A Key Highlights】**
- **Yankee Rate Case**: Alternative resolution could provide $104 million in additional revenue vs. draft decision. Final decision expected November 5.
- **Revolution Wind Timeline**: COD in mid-2026, with first power delivery by Orsted in H2 2026. Eversource's onshore substation will be fully operational by year-end.
- **Storm Cost Securitization**: Connecticut DPU likely to rule Q2 2026, enabling $100+ million annual interest savings.
- **Massachusetts Gas PBR**: Filed motion for reconsideration after DPU denied $45 million rate base roll-in, targeting comprehensive rate case in 2026.
- **Capital Allocation**: 2025-2029 capital plan of $24.2 billion, with $1.5-2 billion in additional opportunities outside the 5-year forecast period.

Eversource Energy (ES) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ES

ES fundamentals

You can ask Aime