NSARO $79.00

NSARO · Nstar Electric Co

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$79.00 At close · Sep 23

Rebalance outlook locked

Market Cap

$7,900

100

Volume · Sep 23 64 Avg daily vol (13 sessions) 221

All webcasts

Earnings call · FY2026 Q2

Nstar Electric Co (NSARO) Q2 2026 Earnings Call

Concluded Jul 31, 2026

Jul 31, 2026 0 turns

Period: FY2026 Q2
Runtime: —
Sources: 3 artifacts

Slides 27 8-K 10-Q

Executive readout · one minute

What matters this quarter

Eversource reported Q2 2026 non-GAAP recurring EPS of $0.87 and reaffirmed its revised 2026 non-GAAP recurring EPS guidance of $4.57–$4.72 and long-term 5–7% EPS growth target (with trajectory toward the upper half by 2028); GAAP results were pressured by a $164.0M offshore wind contingent liability charge and a $111.4M Aquarion sale charge. The company completed the Aquarion divestiture for $1.7B in cash, was preliminarily selected for the ISO-NE LTTP transmission project ($2.2B), and Connecticut PURA approved the majority of storm costs for securitization.

AMI deployment 18 Long-term EPS and rate base growth 14 Storm cost securitization 14 FERC refund risk 12 FERC ROE proceedings 11 Equity issuance and balance sheet 8

Management tone

Confident

Net tone +65 · low hedging

Grounding quotes

“we are well positioned for higher growth”
“I feel very good about it. We're going to bring this in”
“we stand with our guidance that we want to be 100 basis points above the downgrade thresholds”
“we feel that there is a path forward for us to seek recovery of that, which is certainly within our five-year period”

Forward guidance

4 guided metrics

Management's latest ranges and targets are included below.

Research coverage

3 live sources

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Research materials

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Presentation 27 pages 8-K earnings release Filed Jul 30, 2026 10-Q report Filed Aug 3, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

Q2 non-GAAP recurring EPS of $0.87 was in line with revised guidance.
Completed Aquarion divestiture on June 30, 2026, generating $1.7 billion in cash to strengthen the balance sheet.
Preliminarily selected by ISO-NE for the LTTP transmission project, a $2.2 billion opportunity using existing rights-of-way with in-service by end of 2032.
Reaffirmed long-term EPS growth target of 5–7% with trajectory toward the upper half by 2028, supported by $26.5 billion 2026–2030 capital plan.
Moody's outlook upgraded to stable and projected FFO/Debt maintained 100 bps above downgrade thresholds through 2030.

↓ Risks & pressure points

FERC ROE decision reduced transmission ROE to 9.57%, prompting a $43.9M ($0.12 per share) after-tax refund charge in Q1 with potential further $880M refund exposure.
AMI proposal in Connecticut shows negative NPV net benefit, raising execution risk for the ~$1 billion deployment.

Key moments

Read the management remarks selected from the transcript.

“Sure, I did state in my formal remarks that we see the trajectory of growth rate certainly between now and 2030 moving towards the upper half. So one would imply, and I also gave a bit more color that says by 2028 is when you can see that growth happening to put us in the upper half of that five to 7%. One would conclude that on a sustainable basis that 28, 29, and 30 to get us to the upper half by the end of 2030.” John Morera, CFO

Forward guidance

From the 8-K filed Jul 30, 2026.

Metric	Period	Guided	Basis
Non-GAAP recurring earnings 2026	2026	$4.57 – $4.72	Non-GAAP
Cumulative long-term earnings per share growth rate through 2030	through 2030	5% – 7%	Non-GAAP
Long-term EPS growth long-term	long-term	5% – 7%	—
Robust capital investment plan 2026-2030	2026-2030	$26.5B	—

Quarter detail

How the reported period landed and where the business moved.

Capital returned

Dividend / share: $1.20

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