Eversource Energy Files 8-K on Financials & Other Events

TL;DR

**Eversource just dropped an 8-K, likely with fresh financials or big news, so watch for market reaction.**

AI Summary

Eversource Energy filed an 8-K on January 24, 2024, to disclose information under Items 2.02 (Results of Operations and Financial Condition), 7.01 (Regulation FD Disclosure), and 8.01 (Other Events). This filing indicates that the company is likely releasing or has just released financial results or other material non-public information, which they are making public to comply with fair disclosure regulations. For investors, this means new financial data or significant company updates are available, which could impact the stock's valuation and future performance.

Why It Matters

This filing signals that Eversource Energy is releasing important financial or operational updates, which could directly influence investor sentiment and the company's stock price.

Risk Assessment

Risk Level: low — This 8-K is a procedural filing to disclose information, not an event that inherently carries high risk, though the disclosed information itself could be positive or negative.

Analyst Insight

Investors should look for the specific press release or financial report that this 8-K refers to, as it will contain the actual financial results and operational updates that could move the stock.

Key Players & Entities

• EVERSOURCE ENERGY (company) — the registrant filing the 8-K
• January 24, 2024 (date) — date of earliest event reported and filing date
• 001-05324 (other) — Commission File Number for Eversource Energy
• Massachusetts (other) — State of incorporation for Eversource Energy

Forward-Looking Statements

• Eversource Energy will release its Q4 2023 earnings report shortly after this 8-K filing. (EVERSOURCE ENERGY) — high confidence, target: 2024-01-31
• The information disclosed under Regulation FD will be a press release or investor presentation. (EVERSOURCE ENERGY) — high confidence, target: 2024-01-24

FAQ

Key Financial Figures

• $5.00 — ge on which registered Common Shares, $5.00 par value per share ES New York Stock

Filing Documents

• tm244047d1_8k.htm (8-K) — 37KB
• tm244047d1_ex99-1.htm (EX-99.1) — 15KB
• tm244047d1_ex99-1img001.jpg (GRAPHIC) — 6KB
• 0001104659-24-006305.txt ( ) — 237KB
• es-20240124.xsd (EX-101.SCH) — 3KB
• es-20240124_lab.xml (EX-101.LAB) — 33KB
• es-20240124_pre.xml (EX-101.PRE) — 22KB
• tm244047d1_8k_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. The information set forth under Item 8.01 is incorporated by reference into this Item 2.02. Section 7 Regulation FD

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure . On January 24, 2024, Sunrise Wind, an offshore wind project jointly owned 50 percent by Eversource Energy ("Eversource") and 50 percent by rsted, issued a news release announcing that rsted has signed an agreement with Eversource to acquire Eversource's 50 percent share of Sunrise Wind, a 924 MW offshore wind farm, which would deliver power to New York. The acquisition is subject to the successful award of Sunrise Wind in the ongoing New York 4 solicitation for offshore wind capacity, signing of an OREC ("Offshore Wind Renewable Energy Certificates") contract with the New York State Energy Research and Development Authority ("NYSERDA"), finalization of acquisition agreements, receipt of construction and operations plan ("COP"), and relevant regulatory approvals. The news release is attached as Exhibit 99.1 and incorporated herein by reference. The information contained in this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" with the Securities and Exchange Commission ("SEC") nor incorporated by reference in any registration statement filed by Eversource or any subsidiary thereof under the Securities Act of 1933, as amended, unless specified otherwise. Section 8 Other Events

01 Other Events

Item 8.01 Other Events . On January 24, 2024, Sunrise Wind, an offshore wind project jointly owned 50 percent by Eversource and 50 percent by rsted, issued a news release announcing that rsted has signed an agreement with Eversource to acquire Eversource's 50 percent share of Sunrise Wind, a 924 MW offshore wind farm, which would deliver power to New York. The acquisition is subject to the successful award of Sunrise Wind in the ongoing New York 4 solicitation for offshore wind capacity, signing of an OREC contract with NYSERDA, finalization of acquisition agreements, receipt of construction and operations plan, and relevant regulatory approvals. If Sunrise Wind is not successful in the solicitation, then the existing OREC contract for Sunrise Wind will be cancelled per the state's requirements, and Eversource and rsted's 50/50 joint venture for Sunrise Wind will remain in place. In that scenario, the joint venture will evaluate its next steps. If the project is provisionally awarded, a new contract will be negotiated with NYSERDA under the updated terms of the current solicitation. As the most mature offshore wind project in New York's pipeline, Sunrise Wind is, if awarded in the New York 4 solicitation, expected to be completed in 2026, helping New York achieve its goal of reaching 70 percent renewable energy by 2030. The Sunrise Wind design has been reviewed and accepted by all relevant state agencies, and the project has secured all major supplier and project labor agreements to commence construction shortly after award. Final federal permits are expected this summer.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K includes and other statements that are not historical facts, including the progress and anticipated timing of its offshore wind investment sale process, the potential terms thereof, participation in and outcome of rebidding in the New York RFP and its plans for building onshore interconnection systems. These statements are "forward-looking statements" within the meaning of U.S. federal securities laws. Generally, readers can identify these forward-looking statements through the use of words or phrases such as "estimate," "expect," "anticipate," "intend," "plan," "project," "believe," "forecast," "would," "should," "could" and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to: our ability to complete the offshore wind investment sale process on the timeline or the terms we expect; the risk that we and the potential purchaser, or the potential purchaser and rsted, are unable to reach definitive agreements necessary to consummate the transactions described above; the outcome of the power purchase agreement bid process for Sunrise Wind and the risk of losing the bid to a competing offer; the ability to qual

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 News release of Sunrise Wind, dated January 24, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused the report to be signed on its behalf by the undersigned hereunto duly authorized. EVERSOURCE ENERGY (Registrant) January 24, 2024 By: /s/ Jay S. Buth Jay S. Buth Vice President, Controller and Chief Accounting Officer

View Full Filing

View this 8-K filing on SEC EDGAR