Eversource Sells Aquarion Water for $2.4B, Nets $1.7B to Cut Debt
ES•Eversource Energy sold Aquarion Water Company to Aquarion Water Authority for $2.4 billion, yielding $1.7 billion of net proceeds to reduce debt. It will record a Q2 after-tax non-cash charge of ~$115 million ($0.31 per share) and now forecasts 2026 non-GAAP EPS of $4.57–$4.72.
1. Transaction Completion
Eversource Energy completed the sale of Aquarion Water Company to the Aquarion Water Authority on June 30 for $2.4 billion in cash, satisfying all regulatory approvals.
2. Proceeds and Balance Sheet Impact
The transaction generated approximately $1.7 billion of adjusted net equity proceeds, which Eversource will use to retire debt and strengthen its balance sheet and credit profile.
3. Q2 Charge and EPS Guidance
Eversource will recognize an after-tax non-cash, non-recurring charge of about $115 million (roughly $0.31 per share) in Q2 and now forecasts 2026 non-GAAP EPS of $4.57 to $4.72, excluding Aquarion earnings.
4. Strategic Focus on Regulated Utilities
This divestiture refocuses Eversource on its core regulated electric and natural gas operations and supports its goal of 5–7% annual EPS growth through 2030.
