"AI and crypto mining are driving a surge in power demand"… Eversource’s Q4 net profit jumps

Eversource Energy, a major utility in the U.S. Northeast, delivered improved fourth-quarter results last year on the back of a sharp rise in electricity demand driven by the expansion of data centers for artificial intelligence (AI) and digital-asset (cryptocurrency) mining.

According to Reuters on the 12th (local time), Eversource said its net income for the fourth quarter of last year came in at $421.30 million ($1.12 per share). That is nearly a sixfold jump from $72.50 million ($0.20 per share) a year earlier.

Eversource cited a “surge in power demand” as a key driver of the improvement. The company said, “Electricity consumption in the U.S. set a record high last year,” adding that “power use rose sharply as data centers for the growth of the AI industry and digital-asset mining expanded rapidly.” It continued, “Coupled with the trend toward electrification of heating and transport in households and businesses, data center-driven growth in power demand is expected to continue this year as well.”

On the financial side, strength in the natural gas business and the absence of large one-off costs from the prior year supported results. Fourth-quarter net income in the natural gas segment rose about 20% year on year to $123.60 million from $103.40 million. The resolution of one-off headwinds—including a loss of about $298.00 million related to the sale of the Aquarion water business and losses on offshore wind investments that weighed on results a year earlier—also helped.

Meanwhile, Eversource on the day offered 2026 annual earnings-per-share (EPS) guidance of $4.80 to $4.95, slightly below the consensus Wall Street estimate of $4.97.