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ES · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 2.3% y/y to $2.90B, operating margin 18.6% vs 23.4%, net income $53.7M (−84.8% y/y).
Net income attributable to common shareholders
$53.7M
down 84.8% y/y
Operating revenues
$2,903M
up 2.3% y/y
Operating income
$541M
down 18.4% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Operating revenues | $2,903 · +2.3% |
| Purchased power, purchased natural gas and transmission | $940 · +14.8% |
| Operations and maintenance | $480 · +2.8% |
| Depreciation and amortization (calculated) | $380 · −23.3% |
| Taxes other than income taxes | $278 · +7.5% |
| Energy efficiency programs | $173 · +28.0% |
| Sale of Aquarion | $111 · vs $0 |
| Operating income | $541 · −18.4% · 18.6% margin |
| Interest expense net of other income (calculated) | $211 · +6.9% |
| Loss on offshore wind | $194 · vs $0 |
| Income before income tax expense | $135 · −70.9% |
| Income tax expense | $79.9 · −27.8% · 59.0% effective rate |
| Net income attributable to noncontrolling interests | $1.9 · +0.0% |
| Net income attributable to common shareholders | $53.7 · −84.8% · $0.14/sh · 1.8% margin |
Verdict: revenue grew 2.3% y/y to $2.90B, operating margin 18.6% vs 23.4%, net income $53.7M (−84.8% y/y).
GAAP EPS $0.14 vs $0.96 a year earlier; non-GAAP recurring earnings $329.1 million, or $0.87 per share.
Source and notation
Source: Eversource Energy earnings release and its exhibits, 8-K EX-99 of 07/30/2026 (SEC EDGAR). Utility layout: operating revenues less fuel and purchased power, operations and maintenance, depreciation and taxes other than income taxes give operating income; interest and other income lead to pre-tax income. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open as an image: ES, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “ES Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/es/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/es/q2-2026"><img src="https://whoreportstoday.com/t/es/q2-2026/sankey.png" alt="ES Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/es/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/es/q2-2026">ES Q2 2026 earnings chart (Who Reports Today)</a>
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- Results include a non-cash after-tax charge of $111.4 million related to the sale of Aquarion Water Company on June 30, 2026, and an after-tax charge of $164.0 million for a higher offshore wind contingent liability to Global Infrastructure Partners from the 2024 sale of the South Fork Wind and Revolution Wind projects.
- Interest expense rose to $355.5M from $293.2M; purchased power, natural gas and transmission costs rose to $939.5M from $818.7M.
- Operating income was $541M, a 18.6% margin vs 23.4% a year earlier.
- The effective tax rate was 59.0% vs 23.8% a year earlier.
- Diluted EPS was $0.14 vs $0.96 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
ES — Eversource Energy is a regulated electric and natural gas delivery company serving customers in Connecticut, Massachusetts and New Hampshire; in 2026 it sold its Aquarion water business.
Headquarters: Springfield, Massachusetts (principal offices also in Hartford and Boston).
Heads-up
- net income fell 85% y/y in Q2 2026
Net income for Q2 2026: $53.7M, −85% y/y. In the report's figures: costs grew faster than revenue: purchased power, purchased natural gas and transmission +15% y/y, energy efficiency programs +28% y/y. Based on the Q2 2026 report.
The company's report ↗More reports: ETR · Q3 2026 · EVRG · Q2 2026 · EXC · Q3 2026 · FE · Q3 2026 · LNT · Q3 2026 · NEE · Q3 2026 · NI · Q3 2026 · NRG · Q2 2026 · PCG · Q3 2026 · PEG · Q3 2026 · all reports