Eversource(ES) - 2025 Q3 - Quarterly Results

Filing Information This section provides details on Eversource Energy's Form 8-K filing and its common share listing Registrant Details Eversource Energy (ES) filed a Form 8-K on October 14, 2025, detailing current events. The company's common shares are listed on the New York Stock Exchange - Eversource Energy (ES) filed a Form 8-K on October 14, 2025[2] Securities Registered | Title of each class | Trading Symbol | Name of each exchange on which registered | | :--- | :--- | :--- | | Common Shares, $5.00 par value per share | ES | New York Stock Exchange | Section 2 - Financial Information This section details Eversource Energy's Q3 2025 financial results and offshore wind liability update Item 2.02 Results of Operations and Financial Condition Eversource Energy issued a news release on October 14, 2025, providing an update on offshore wind liability, including unaudited financial information for the three months ended September 30, 2025. This information is attached as Exhibit 99.1 - Eversource Energy issued a news release on October 14, 2025, updating on offshore wind liability and unaudited Q3 2025 financial information[5] - The news release is attached as Exhibit 99.1 and incorporated by reference, but the information is not deemed 'filed' with the SEC unless specified[5][6] Section 8 - Other Events This section outlines post-closing adjustments and increased contingent liability for offshore wind projects Item 8.01 Other Events This section details the post-closing adjustments and increased contingent liability related to the sale of Eversource's interests in the South Fork Wind and Revolution Wind projects to Global Infrastructure Partners (GIP). Revised cost projections for Revolution Wind led to an expected $285 million increase in liability and a net after-tax charge of $75 million in Q3 2025 - Eversource sold its interests in the South Fork Wind and Revolution Wind projects to affiliates of Global Infrastructure Partners (GIP) on September 30, 2024[7] Offshore Wind Contingent Liability Evolution | Date | Liability Amount | | :--- | :--- | | September 30, 2024 (initial) | $365 million | | June 30, 2025 | $296 million | | Q3 2025 (expected increase) | +$285 million | | Q3 2025 (expected net after-tax charge) | $75 million | | Q3 2025 (expected EPS impact) | $0.20 per share | - The $285 million increase in liability is due to revised construction cost projections for Revolution Wind, reflecting damage to the installation vessel, insurance costs, and a stop-work order from BOEM[9] - The expected $285 million increase in liability will result in a net after-tax non-recurring charge of approximately $75 million, or $0.20 per share, in Q3 2025, partially offset by a $210 million federal tax benefit[11] - Revolution Wind project completion is still expected in the second half of 2026[10] Non-GAAP Measures and Forward-Looking Statements This section discusses the use of non-GAAP financial measures and outlines key forward-looking statement risks Non-GAAP Financial Measures Disclosure Eversource uses non-GAAP financial measures to evaluate and present earnings results, excluding non-recurring items such as losses on offshore wind investments, the Aquarion water business sale, land disposition, and certain transaction costs. Management believes these exclusions provide a more meaningful representation of ongoing operating performance - Eversource uses non-GAAP financial measures to evaluate and provide details of earnings results by business, excluding specific non-recurring items[12] - Excluded items include losses on offshore wind equity method investments, the pending sale of the Aquarion water distribution business, disposition of land for the Northern Pass Transmission project, and certain transaction/transition costs[12] - Management believes these non-GAAP measures offer a more meaningful representation of financial performance by excluding items not indicative of ongoing costs and performance[12] Forward-Looking Statements and Risk Factors The report contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially. Key risks include cyberattacks, ability to qualify for tax credits, variability in offshore wind project costs, capital market disruptions, economic conditions, regulatory actions, and extreme weather - The report includes forward-looking statements, which are subject to risks and uncertainties that may cause actual results to differ materially[13] - Key risk factors include cyberattacks, ability to qualify for investment tax credits, variability in offshore wind project costs (Revolution Wind and South Fork Wind), disruptions in capital markets, changes in economic conditions, and regulatory actions[13] - Eversource encourages readers to consult its SEC filings and website for detailed risk factor disclosures[14] Section 9 - Financial Statements and Exhibits This section lists the exhibits filed with the Form 8-K, including the interactive data file Item 9.01 Financial Statements and Exhibits This section lists the exhibits filed with the Form 8-K, specifically Exhibit 104, which is the Cover Page Interactive Data File embedded within the Inline XBRL document Exhibits Filed | Exhibit Number | Description | | :--- | :--- | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | Signature This section confirms the official signing of the report by Eversource Energy's authorized officer Registrant Signature The report was duly signed on October 14, 2025, by Jay S. Buth, Vice President, Controller, and Chief Accounting Officer of Eversource Energy - The report was signed on October 14, 2025, by Jay S. Buth, Vice President, Controller and Chief Accounting Officer of Eversource Energy[19][20][21]