ES Q3 2025 Earnings
Reported Nov 4, 2025 at 4:20 PM ET · SEC Source
Q3 25 EPS
$1.19
BEAT +3.61%
Est. $1.15
Q3 25 Revenue
$3.22B
BEAT +0.62%
Est. $3.20B
vs S&P Since Q3 25
-8.0%
TRAILING MARKET
ES -1.6% vs S&P +6.4%
Market Reaction
Did ES Beat Earnings? Q3 2025 Results
Eversource Energy delivered a clean beat across both top and bottom lines in Q3 2025, posting non-GAAP recurring EPS of $1.19 against a consensus estimate of $1.15, a 3.61% beat, while revenue of $3.22 billion edged past the $3.20 billion estimate an… Read more Eversource Energy delivered a clean beat across both top and bottom lines in Q3 2025, posting non-GAAP recurring EPS of $1.19 against a consensus estimate of $1.15, a 3.61% beat, while revenue of $3.22 billion edged past the $3.20 billion estimate and rose 5.1% year over year. The stronger result was driven by broad-based improvement across regulated segments, with Electric Transmission and Electric Distribution both posting meaningful earnings gains and Natural Gas Distribution narrowing its seasonal loss, collectively lifting operating income to $688.68 million from $612.40 million a year ago. On a GAAP basis, the quarter reflected a dramatic swing to profitability, with net income of $367.50 million compared to a $118.10 million loss in Q3 2024, when offshore wind exit charges weighed heavily on results. Goldman Sachs raised its price target on the stock to $80 following the report, maintaining a Buy rating. Looking ahead, Eversource narrowed its full-year 2025 non-GAAP EPS guidance to $4.72 to $4.80 and reaffirmed a 5% to 7% compound annual EPS growth rate through 2029, underpinned by a $24.20 billion capital plan.
Key Takeaways
- • Higher revenues from base distribution rate increases in New Hampshire and Massachusetts electric businesses
- • Continued investment in electric transmission system
- • Massachusetts gas base distribution rate increases effective November 2024
- • Improved FFO-to-Debt ratio to 14.6% from 12.7% at year-end 2024
ES YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ES Revenue by Segment
With YoY comparisons, source: SEC Filings
“During the third quarter, the Eversource team once again delivered strong financial and operational results, executing well on our planned investments while also responding promptly and safely to storm events.”
— Joe Nolan, Q3 2025 Earnings Press Release
ES Earnings Trends
ES vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ES EPS Trend
Earnings per share: estimate vs actual
ES Revenue Trend
Quarterly revenue: estimate vs actual
ES Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $1.14 | $1.12 | -1.75% | $3.37B | +26.77% |
| FY Full Year | $4.74 | $4.56 | -3.86% | $13.55B | +5.54% |
| Q3 25 BEAT | $1.15 | $1.19 | +3.61% | $3.22B | +0.62% |
| Q2 25 BEAT | $0.95 | $0.96 | +0.96% | $2.84B | -3.11% |
| Q1 25 MISS | $1.51 | $1.50 | -0.65% | $4.12B | +9.19% |