Energy group Eversource Energy reported a net profit of $367.5mn for the third quarter of 2025, or $0.99 per share, compared to a net loss of $118.1mn a year earlier. Non-GAAP recurring earnings totalled $442.5mn, up from $405.9mn in the same period in 2024.
Performance supported by regulated segments
The electric distribution segment generated $221.6mn in profit during the quarter, supported by base rate increases in the states of Massachusetts and New Hampshire. This growth is backed by continued investments in distribution infrastructure, partially offset by higher property taxes, interest expenses, and operating and maintenance (O&M) costs.
The electric transmission segment reported $185.5mn in earnings, up from $174.9mn in the third quarter of 2024. This increase is mainly due to ongoing investment in the company’s electricity transmission network.
Improved gas results, water segment declines
The natural gas distribution segment, typically loss-making in the third quarter, narrowed its loss to $16.8mn from $30.2mn a year earlier. The improvement is attributed to rate increases in Massachusetts, aimed at supporting infrastructure investment. These gains were partially offset by increased interest, depreciation, and property tax expenses.
The water distribution segment posted $18.9mn in profit, down from $23.7mn in the third quarter of 2024. The decline was primarily driven by higher O&M and depreciation charges.
Reduced offshore wind losses
Results include a net loss of $75mn related to the sale of the South Fork Wind and Revolution Wind projects, compared to a $524mn loss in the same quarter last year. This reduction reflects a stabilisation following Eversource’s exit from offshore wind operations.
The group as a whole, including parent and other entities, reported a consolidated profit of $1.27bn for the first nine months of the year, compared to $739.1mn in the same period of 2024. Earnings per share for the period reached $3.44, an increase of $1.36.
Narrowed full-year guidance and expected growth
The company narrowed its full-year 2025 recurring earnings forecast to between $4.72 and $4.80 per share, from its initial range of $4.67 to $4.82. It reaffirmed its expected compound annual earnings per share growth rate of 5 to 7% from a 2024 base of $4.57.
Eversource, which serves 4.6 million customers across the northeastern United States, stated that these results reflect strong performance from its regulated businesses and improved financial clarity following the strategic withdrawal from offshore wind.
