DivestmentJun 30, 2026, 05:31 PM
Eversource Completes $2.4B Sale of Aquarion Water Company
AI Summary
Eversource Energy announced the successful completion of the $2.4 billion sale of Aquarion Water Company to Aquarion Water Authority. The adjusted net equity proceeds of approximately $1.7 billion will be used to strengthen the balance sheet by displacing debt. This divestment aligns with Eversource's strategy to become a pure-play regulated utility, focusing on core electric and natural gas operations. The company expects a non-cash charge of $115 million in Q2 2026 and has revised its 2026 non-GAAP guidance, while reaffirming its long-term EPS growth rate.
Key Highlights
- Completed sale of Aquarion Water Company to Aquarion Water Authority.
- Total transaction purchase price was $2.4 billion cash.
- Adjusted net equity proceeds of approximately $1.7 billion.
- Proceeds will be used to displace Eversource debt.
- Expects after-tax non-cash non-recurring charge of $115 million ($0.31/share) in Q2 2026.
- Revised 2026 non-GAAP guidance to $4.57-$4.72 per share.
- Maintains 5-7% cumulative long-term EPS growth rate through 2030.
Price Impact
More from ES