0001628280-26-008461
SEC filingEversource Energy reported strong financial results for fiscal year 2025, with operating revenues of $13.55 billion and net income attributable to common shareholders of $1.69 billion. The company generated operating income of $2.99 billion, representing an operating margin of 22.1%. Key drivers included effective cost management with total operating expenses of $10.56 billion, though the company incurred $284.0 million in losses on offshore wind investments. Cash flow from operations was robust at $4.11 billion, supporting significant capital investments of $4.16 billion in property, plant and equipment. The balance sheet shows total assets of $63.79 billion with substantial long-term debt of $26.87 billion and common shareholders' equity of $16.20 billion. The company maintained solid liquidity with $5.08 billion in current assets against $7.81 billion in current liabilities.
Eversource Energy delivered solid financial performance for fiscal year 2025, reporting operating revenues of $13.55 billion and net income of $1.70 billion. The company achieved operating income of $2.99 billion, driven by effective management of operating expenses totaling $10.56 billion. Key expense components included purchased power, purchased natural gas and transmission ($4.21 billion), operations and maintenance ($2.07 billion), depreciation ($1.57 billion), and taxes other than income taxes ($1.09 billion). The company reported net income attributable to common shareholders of $1.69 billion after accounting for $7.5 million attributable to noncontrolling interests. Basic and diluted earnings per share were both $5.00, based on weighted average common shares outstanding of 370.9 million (basic) and 371.3 million (diluted).
The company's revenue of $13.55 billion reflects its core utility operations across electric, natural gas, and water distribution services. The document does not provide segment-level revenue breakdowns or geographic mix details. Revenue growth drivers are not explicitly disclosed in the provided data, though the company's regulated utility operations typically generate stable revenue streams through rate-based investments and customer growth. The absence of segment data prevents detailed analysis of revenue composition by business line or geographic region.
Eversource Energy achieved an operating margin of 22.1% ($2.99 billion operating income / $13.55 billion revenue). The company's cost structure shows significant fixed costs with depreciation ($1.57 billion) and amortization ($835.9 million) representing substantial non-cash expenses. Operating expenses were well-controlled at $10.56 billion, with the largest components being purchased power and fuel ($4.21 billion) and operations and maintenance ($2.07 billion). The company incurred $284.0 million in losses on offshore wind investments, which impacted pre-tax income. Income tax expense was relatively low at $140.3 million, resulting in effective tax rate of approximately 7.6%.
The company generated strong operating cash flow of $4.11 billion, significantly exceeding net income of $1.70 billion due to non-cash adjustments including depreciation ($1.57 billion) and deferred income taxes ($27.3 million). Investing activities used $4.31 billion primarily for property, plant and equipment investments ($4.16 billion). Financing activities provided $311.5 million through net debt issuance and equity offerings. The balance sheet shows total assets of $63.79 billion, dominated by property, plant and equipment ($45.93 billion) and regulatory assets ($7.70 billion combined). Liabilities include substantial long-term debt ($26.87 billion) and current liabilities ($7.81 billion). Common shareholders' equity stands at $16.20 billion, resulting in debt-to-equity ratio of approximately 1.66:1.
The provided document does not include management guidance, strategic priorities, or specific risk factors. The financial statements show continued investment in property, plant and equipment ($4.16 billion), indicating ongoing capital expenditure programs. The company's offshore wind investments resulted in $284.0 million in losses, suggesting challenges in this business segment. The balance sheet indicates strong regulatory asset positions ($7.70 billion) and deferred tax liabilities ($5.65 billion), typical for regulated utilities. The company maintained dividend payments of $1.09 billion on common shares and $7.5 million on preferred stock, demonstrating commitment to shareholder returns.