Eversource Energy (ES) reported fourth-quarter 2024 adjusted earnings of $1.01 per share, which surpassed the Zacks Consensus Estimate of 99 cents by 2%. The bottom line also increased 6.3% from the year-ago figure of 95 cents.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total Revenues of ESRevenues of $2.97 billion beat the Zacks Consensus Estimate of $2.81 billion by 5.7%. Total revenues also increased 10.4% from the year-ago figure of $2.69 billion.Full-year 2024 revenues totale ...

Eversource Energy (ES) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.02%. A quarter ago, it was expected that this New England power provider would post earnings of $1.04 per share when it actually produced earnings of $1.13, delivering a surprise of 8.65%.Over the last four quart ...

Financial Performance - Eversource Energy reported full-year 2024 earnings of $811.7 million, or $2.27 per share, compared to a loss of $(442.2) million, or $(1.26) per share in 2023[2]. - Non-GAAP recurring earnings for full-year 2024 totaled $1,634.0 million, or $4.57 per share, an increase from $1,517.7 million, or $4.34 per share in 2023[2]. - Eversource Energy reported earnings per share (EPS) on a diluted basis, excluding losses from offshore wind investments and other non-recurring items[15]. Future Earnings Expectations - The company expects 2025 earnings to be between $4.67 per share and $4.82 per share, with a long-term growth rate of 5 to 7 percent through 2029[5]. Investment Plans - Eversource's five-year investment plan for 2025 to 2029 is $24.2 billion, a nearly 10 percent increase from the previous plan of $22.1 billion[5]. - Eversource expects to raise $1.2 billion of equity over the forecast period of 2025-2029, mainly in the latter half of the period[6]. Segment Performance - The electric transmission segment earned $724.6 million in 2024, up from $643.4 million in 2023, reflecting higher investment levels[7]. - The natural gas distribution segment earned $291.0 million in 2024, compared to $224.8 million in 2023, driven by base distribution rate increases[9]. - The water distribution segment earned $44.6 million in 2024, an increase from $33.1 million in 2023, primarily due to lower depreciation expenses[10]. Strategic Decisions - The company recorded an aggregate net after-tax loss of $524.0 million related to the sale of offshore wind investments in 2024[3]. - Eversource plans to divest Aquarion Water Company, expected to close by late 2025, to strengthen its balance sheet and focus on regulated utility businesses[4]. Non-GAAP Financial Measures - The company emphasizes the use of non-GAAP financial measures to provide a clearer picture of ongoing performance, excluding significant losses and transaction costs[15]. - Eversource Energy's management believes that the non-GAAP presentation offers a more meaningful representation of financial performance, aiding in the analysis of historical and future results[15]. Risk Factors - Forward-looking statements indicate potential risks including cyberattacks, changes in economic conditions, and disruptions in capital markets that could materially affect actual results[16]. - The company acknowledges uncertainties related to major strategic development projects and the impact of regulatory actions on operations[16]. - Eversource Energy's risk factors are detailed in reports filed with the SEC, which are regularly updated and available on their website[17]. - Management cautions against placing undue reliance on forward-looking statements, as they are subject to change and may not reflect future events[18].

Eversource Energy (ES) is scheduled to release fourth-quarter 2024 results on Feb. 11, after market close. The company delivered an earnings surprise of 8.7% in the last reported quarter.See the Zacks Earnings Calendar to stay ahead of market-making news.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Key Factors That Might Have Impacted ES' Q4 PerformanceThe bottom line is expected to have benefited from the completed sale of its 50% interest in the 132-megawatt ...

Eversource Energy (ES) announced that its board of directors has increased dividends by 5.2%. Following the board's approval, the share price rose 2.1% from Jan. 29, 2025. The new quarterly dividend will be 75.25 cents per share compared with the previous quarter’s 71.5 cents. The new dividend will be payable on March 31, 2025, to stockholders of record as of March 4, 2025.The increased dividend rate resulted in an annualized dividend of $3.01 per share compared with the previous level of $2.86. The current ...

Eversource Energy (ES) announced that it has entered into a definitive agreement to sell Aquarion Water Company (Aquarion) to the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority.The total enterprise value of the deal is around $2.4 billion, subject to some closing adjustments. This includes around $1.6 billion in cash and $800 million in ...

HARTFORD, Conn. and BOSTON, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Eversource Energy will webcast a conference call with financial analysts on Wednesday, February 12, 2025, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through 2024. This listen-only, live audio presentation will be accessible from the Investors section of the Eversource website. Investors and analysts wishing to participate in the Q&A session of the call and access the event via phon ...

Financial Performance - Eversource reported a loss of $118.1 million, or $0.33 per share, in Q3 2024, compared to earnings of $339.7 million, or $0.97 per share, in Q3 2023[108]. - Year-to-date 2024 results include an after-tax loss on offshore wind investments of $524.0 million, or $1.48 per share, while 2023 included an impairment charge of $331.0 million, or $0.95 per share[108]. - Non-GAAP earnings for Q3 2024 were $405.9 million, or $1.13 per share, and $1.26 billion, or $3.56 per share, for the first nine months of 2024[108]. - Eversource updated its 2024 non-GAAP earnings guidance to a range of $4.52 to $4.60 per share, excluding impacts from offshore wind project sales[108]. - Eversource reported a net loss attributable to common shareholders of $118.1 million in Q3 2024, a decrease of $457.8 million compared to net income of $339.7 million in Q3 2023[138]. Cash Flow and Debt Management - Cash flows from operating activities totaled $1.52 billion in the first nine months of 2024, up from $1.17 billion in the same period of 2023[108]. - Eversource issued $4.40 billion in new long-term debt and repaid $1.26 billion of long-term debt in the first nine months of 2024[108]. - Cash and cash equivalents increased to $97.9 million as of September 30, 2024, compared to $53.9 million as of December 31, 2023[108]. - Eversource's available borrowing capacity under commercial paper programs was $1.79 billion as of September 30, 2024[108]. - Eversource parent has a $2.00 billion commercial paper program, with $322.0 million outstanding as of September 30, 2024[117]. Segment Performance - Electric distribution segment earnings increased by $30.2 million in Q3 2024 compared to Q3 2023, driven by higher revenues from base distribution rate increases and lower operations and maintenance expenses[112]. - Electric transmission segment earnings rose by $14.6 million in Q3 2024 and $64.2 million in the first nine months of 2024, attributed to a higher transmission rate base from ongoing infrastructure investments[113]. - Natural gas distribution segment losses decreased by $3.5 million in Q3 2024 compared to Q3 2023, primarily due to higher revenues from capital tracking mechanisms and a lower effective tax rate[113]. - Water distribution segment earnings increased by $7.1 million in Q3 2024, mainly due to after-tax benefits from a rate case decision and revenues from a water company acquisition[113]. Capital Expenditures and Investments - Eversource's total capital expenditures for the first nine months of 2024 reached $3.40 billion, compared to $3.21 billion in the same period of 2023, with significant investments in infrastructure and operations[123]. - Electric transmission capital expenditures increased to $998.3 million in the first nine months of 2024, up from $953.5 million in the same period of 2023[124]. - The company paid cash dividends totaling $745.2 million in the first nine months of 2024, compared to $688.9 million in the same period of 2023[120]. - Eversource's investments in property, plant, and equipment for the first nine months of 2024 were $3.29 billion, with significant allocations for maintaining and improving infrastructure[123]. Regulatory and Rate Adjustments - NSTAR Electric's Electric Sector Modernization Plan was approved, involving incremental capital investment of $608 million and incremental expenses of $211 million from 2025 to 2029[110]. - NSTAR Electric submitted a PBR Adjustment filing for a $56 million increase to base distribution rates, effective January 1, 2025, which includes a $35 million inflation-based adjustment and a $21 million K-bar adjustment[135]. - PSNH received approval for a temporary annual base distribution rate increase of $61.2 million effective August 1, 2024, and is seeking a permanent increase of $181.9 million effective August 1, 2025[135]. Offshore Wind Investments - The company completed the sale of its 50 percent ownership share of Sunrise Wind for adjusted proceeds of $152 million and recognized an aggregate after-tax loss of $524 million from offshore wind investments[110]. - Eversource sold its 50% interest in offshore wind projects for a total of $745 million, resulting in an after-tax loss of $524 million in Q3 2024[127]. - The company recorded a pre-tax impairment charge of $1.77 billion in Q4 2023 related to its offshore wind investments, reflecting a decline in fair value[130]. - A tax equity investment of $528 million was made in South Fork Wind, expected to yield $459 million in investment tax credits and other tax benefits[127]. Revenue and Expense Trends - Operating revenues for Eversource in Q3 2024 were $3,063.2 million, an increase of $271.7 million compared to Q3 2023[138]. - Total operating expenses for Eversource in Q3 2024 were $2,450.8 million, an increase of $189.9 million compared to Q3 2023[138]. - Energy supply procurement costs decreased by $231.1 million for the three months ended and $1,086.8 million for the nine months ended[144]. - Total Purchased Power, Purchased Natural Gas and Transmission expenses were $250.7 million for the three months ended and $1,237.7 million for the nine months ended[144]. Tax and Interest Expenses - Income Tax Expense increased by $1.4 million to $142.4 million for the three-month period and by $31.2 million to $151.3 million for the nine-month period, primarily due to increased reserves related to offshore wind investment losses[151]. - Interest Expense increased by $34.7 million to $180.1 million for the three-month period and by $25.1 million to $164.9 million for the nine-month period due to new debt issuances and higher short-term borrowings[151].

Eversource Energy (ES) reported third-quarter 2024 adjusted earnings of $1.13 per share, which surpassed the Zacks Consensus Estimate of $1.04 per share by 8.7%. The bottom line also increased 16.5% from the year-ago figure of 97 cents.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Total Revenues of ESRevenues of $3.06 billion beat the Zacks Consensus Estimate of $3.05 billion by 0.4%. Total revenues also increased 9.6% from the year-ago figure of $2.79 billion.Highlights of ES’ Ea ...

Core Insights - Eversource Energy reported a revenue of $3.06 billion for the quarter ended September 2024, reflecting a year-over-year increase of 9.7% [1] - The earnings per share (EPS) for the quarter was $1.13, up from $0.97 in the same quarter last year, surpassing the consensus estimate of $1.04 by 8.65% [1] Financial Performance Metrics - Operating Income for Electric Distribution was reported at $203.50 million, which fell short of the average estimate of $299.57 million from two analysts [3] - Operating Income for Electric Transmission was $174.90 million, compared to the average estimate of $284 million from two analysts [3] - Operating Income for Natural Gas Distribution was reported at -$30.20 million, worse than the average estimate of -$24.58 million from two analysts [3] Stock Performance - Eversource shares have returned -2.6% over the past month, while the Zacks S&P 500 composite has seen a +0.4% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]