Eversource second-quarter profit slumps on Aquarion sale, offshore wind charges

July 30 (Reuters) - Eversource Energy posted a fall in second-quarter profit on Thursday, as the electric utility was weighed down by charges tied to the Aquarion sale, offshore wind liabilities and lower returns on New England transmission assets.

• Last quarter, the company said its annual earnings would be hit by the Federal Energy Regulatory Commission's decision to lower rates for electricity in New England.
• Regulated utilities like Eversource have been filing requests to increase rates, citing a need for spending on infrastructure as the country's electrical grids face extreme weather and growing demand from industry electrification and data center expansion.
• For the second quarter, the company's net income plunged 84.7% to $53.7 million.
• Results included an $111.4 million after-tax non-cash charge related to Aquarion's sale and a $164 million charge from higher expected payments to Global Infrastructure Partners connected with the 2024 sale of its South Fork Wind and Revolution Wind projects.
• Operations and maintenance costs came in at $480 million, up 2.7% from a year earlier.
• The company reaffirmed its 2026 per-share adjusted earnings forecast of $4.57 to $4.72.