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Eversource Energy Reports Offshore Wind Liability Increase and Unaudited Financial Information for Q3 2025

Strategic Insights

— 2 min read

Eversource Energy, a leading energy company, has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, detailing an update on their offshore wind liability and unaudited financial information for the three-month period ended September 30, 2025. The report highlights a significant increase in the offshore wind contingent liability, estimated at $285 million, due to revised projections of total construction costs for the Revolution Wind project. This increase is expected to result in a charge of approximately $75 million, or $0.20 per share, in the third quarter of 2025. The company also provides non-GAAP financial measures to evaluate and provide details of earnings results by business, excluding losses on sales and impairments of offshore wind equity method investments and other non-recurring items.

Key Takeaways:

  • Eversource Energy has filed a Current Report on Form 8-K with the SEC on October 14, 2025, detailing an update on offshore wind liability and unaudited financial information for Q3 2025.
  • The company reports an estimated $285 million increase in the offshore wind contingent liability due to revised construction cost projections for the Revolution Wind project.
  • This increase is expected to result in a non-recurring charge of approximately $75 million, or $0.20 per share, in the third quarter of 2025.
  • Eversource Energy provides non-GAAP financial measures to evaluate and provide details of earnings results by business, excluding losses on sales and impairments of offshore wind equity method investments and other non-recurring items.
  • The company relies on information received from project owners and uses its judgment to interpret this information to adjust its expected obligations to GIP.
  • The offshore wind project is expected to complete construction in the second half of 2026.
  • Eversource Energy will recognize an aggregate, net after-tax non-recurring charge of approximately $75 million in the third quarter of 2025.
  • This charge consists of the expected approximately $285 million increase to the offshore wind contingent liability, offset by an approximately $210 million federal tax benefit associated with tax losses on the sale of the Offshore Wind Projects.
  • The company provides guidance for earnings and EPS excluding losses on the sales and impairments of the offshore wind equity method investments, a loss on the pending sale of the Aquarion water distribution business, a loss on the disposition of land associated with an abandoned project, and transaction and transition costs.

Statistics:

  • Estimated increase in offshore wind contingent liability: $285 million
  • Expected non-recurring charge: $75 million (or $0.20 per share)
  • Federal tax benefit associated with tax losses on the sale of the Offshore Wind Projects: $210 million
  • Total construction costs for the Revolution Wind project: estimated to be approximately $285 million
  • Expected completion date for the Revolution Wind project: second half of 2026
  • Eversource Energy's common shares outstanding: 375,000,000

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT
  • Eversource Energy's News Release of October 14, 2025
  • Eversource Energy's Form 8-K dated October 14, 2025, filed with the SEC

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