Eversource Energy (ES) 10-K Summaries & Annual Filing History
Review Eversource Energy (ES) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
The company operates as a public utility holding company with regulated electric and natural gas delivery businesses. Financial results showed a revenue increase for the latest period compared to the prior period, while net income and operating cash flow remained substantial.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$13.5B
Revenue reported for the fiscal year.
Operating income
$3B
Income from operations reported for the year.
Net income
$1.7B
Net income reported for the year.
Operating cash flow
$4.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $12.3B | +24.6% |
| Dec 31, 2023 | $11.9B | -3.1% |
| Dec 31, 2024 | $11.9B | -0.1% |
| Dec 31, 2025 | $13.5B | +13.8% |
Business overview
Eversource Energy is a public utility holding company that primarily engages in the regulated transmission and distribution of electricity and natural gas. The company serves customers in multiple states through its principal subsidiaries. Operations are subject to oversight by state and federal regulatory authorities.
Financial performance
Revenue for the latest annual period increased compared to the prior annual period. Operating income and net income remained significant, and operating cash flow was strong. The long-term revenue trend showed a notable increase from the beginning of the reported multi-year span to the most recent annual period.
Material risks
The company faces risks related to regulatory proceedings and rate-setting mechanisms that could affect future earnings. Operational risks include the potential for cybersecurity incidents and the physical impacts of extreme weather on utility infrastructure. Economic and financial market conditions may also affect the company's access to capital and overall costs.
Liquidity and capital
The company manages its liquidity through operating cash flows and access to capital markets to fund capital expenditures and business development. Capital allocation priorities are informed by regulatory requirements and infrastructure investment needs.
What to watch
Monitor regulatory decisions on rate cases and cost recovery mechanisms in the company's key service areas.