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# Eversource Lifts 2026 Earnings Guidance Midpoint To $4.66 A Share As Third-Quarter Profit Slips
- URL: https://www.bullished.co/eversource-lifts-2026-earnings-guidance-midpoint-to-4-66-a-share-as-third-quarter-profit-b7919ba9/
- Published: 2026-11-04T21:41:58.000Z
- Updated: 2026-11-04T21:41:58.000Z
- Description: The utility narrowed its 2026 range to $4.62 to $4.70 a share and kept its 5% to 7% long-term growth target through 2030.
- Author: Matteo Parrino
- Tags: Earnings, ES, Industry: Utilities

Eversource Energy, the utility holding company that delivers electricity and natural gas across Connecticut, Massachusetts and New Hampshire, [raised the midpoint](https://www.sec.gov/Archives/edgar/data/0000072741/000110465926122703/tm2628949d1%5Fex99-1.htm?ref=bullished.co) of its 2026 recurring earnings guidance to $4.66 per share on Wednesday, even as third-quarter earnings fell to $0.92 per share. The company reaffirmed its 5% to 7% long-term growth target through 2030.

## A lower quarter, a tighter range

Third-quarter earnings were [$346.0 million](https://www.globenewswire.com/news-release/2026/11/04/3395862/0/en/eversource-energy-reports-third-quarter-2026-results.html?ref=bullished.co), or $0.92 per share, with no adjustments. A year earlier, the company earned $367.5 million, or $0.99 per share, on a standard accounting basis, and recurring earnings were $442.5 million, or $1.19 per share.

The new 2026 range of $4.62 to $4.70 per share narrows the $4.52 to $4.72 range the company set on March 31, according to its [earnings slides](https://www.sec.gov/Archives/edgar/data/0000072741/000110465926122703/tm2628949d1%5Fex99-3.htm?ref=bullished.co). The growth target uses the $4.66 midpoint as its base year, and Eversource expects annual earnings growth toward the upper half of that range by 2028.

For the first nine months, earnings were [$1.01 billion](https://www.globenewswire.com/news-release/2026/11/04/3395862/0/en/eversource-energy-reports-third-quarter-2026-results.html?ref=bullished.co), or $2.67 per share, versus $1.27 billion, or $3.44 per share, a year earlier. Recurring earnings were $3.52 per share, against $3.64.

## Charges behind the nine-month drop

Three items hit the nine-month results. A non-cash charge of $111.4 million, or $0.30 per share, came with the June 30 sale of the Aquarion water business. A $164.0 million charge, or $0.43 per share, reflects higher expected future payments tied to the offshore wind divestiture. A $43.9 million charge, or $0.12 per share, covers estimated refunds after the March 19 FERC decision cut the allowed return for New England transmission owners from 10.57% to 9.57%.

Eversource has appealed that ruling to the D.C. Circuit, which expedited the schedule but denied a stay. The company has proposed a new 11.39% return, and the slides show a rate effective November 30 while FERC's decision is pending.

## Gas losses, storm costs and capital plans

Natural gas distribution lost $43.4 million in the quarter, against a $16.8 million loss a year earlier. The company blamed a change in seasonal rate design that shifted revenue recovery, plus higher depreciation. Electric distribution earned $200.9 million, down from $221.6 million, hurt by storm costs that Connecticut regulators disallowed in a July 29 decision. Transmission earned $182.0 million, versus $185.5 million.

The water segment earned nothing after the Aquarion sale. The slides show $26.5 billion of planned capital investment through 2030, $2.3 billion more than the prior five-year forecast.

CEO Joe Nolan called the storm-cost ruling "constructive" and said it gives a "clear path to securitization." Management holds its analyst call Thursday at 9 a.m. Eastern.

Eversource's slides show Connecticut storm-cost securitization targeted for mid-2027 for CL&P and early 2028 for PSNH, with the cash going to debt reduction.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — EVERSOURCE ENERGY (ES)](https://www.sec.gov/Archives/edgar/data/0000072741/000110465926122703/tm2628949d1%5F8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tm2628949d1\_ex99-1.htm — EVERSOURCE ENERGY 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000072741/000110465926122703/tm2628949d1%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tm2628949d1\_ex99-2.htm — EVERSOURCE ENERGY 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000072741/000110465926122703/tm2628949d1%5Fex99-2.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tm2628949d1\_ex99-3.htm — EVERSOURCE ENERGY 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000072741/000110465926122703/tm2628949d1%5Fex99-3.htm?ref=bullished.co) — SEC EDGAR
- [Eversource Energy Reports Third Quarter 2026 Results](https://www.globenewswire.com/news-release/2026/11/04/3395862/0/en/eversource-energy-reports-third-quarter-2026-results.html?ref=bullished.co) — globenewswire.com