Eversource Energy (NYSE: ES) announced June 30, 2026, the completion of its sale of Aquarion Water Company to Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut, for $2.4 billion in cash.

The adjusted net equity proceeds of approximately $1.7 billion will be used to reduce Eversource debt. The sale was approved by the Connecticut Public Utilities Regulatory Authority on March 25, 2026, following a definitive agreement signed January 27, 2025.

As a result of the transaction, Eversource expects to record an after-tax non-cash non-recurring charge of approximately $115 million, or $0.31 per share, in the second quarter of 2026.

The company revised its 2026 non-GAAP earnings guidance to $4.57 to $4.72 per share, reflecting the absence of Aquarion earnings. Eversource said it continues to expect cumulative long-term earnings per share growth of 5 to 7 percent through 2030, using an adjusted 2026 non-GAAP earnings guidance midpoint of $4.65 per share as the base year, with annual earnings growth expected toward the upper half of that range by 2028.

"The sale of Aquarion constitutes a significant milestone in furthering our strategic position as a pure-play regulated pipes and wires utility, allowing us to optimize our portfolio by focusing on our core electric and natural gas operations across New England," said John Moreira, Eversource Executive Vice President, Chief Financial Officer and Treasurer.

Citi and Morgan Stanley & Co. LLC served as financial advisors to Eversource, while Ropes & Gray LLP served as legal counsel.