Eversource Energy Posts Stunning Profit Turnaround

By Tamara Parker • Friday, February 14 15:16 • Permanent Link

Eversource Energy has recently released its 10-K report, providing a detailed look into the company's financial performance and operations. Eversource Energy, a public utility holding company, operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments, serving a wide range of customers in Connecticut, Massachusetts, and New Hampshire.

In 2024, Eversource Energy earned $811.7 million, or $2.27 per share, compared to a loss of $442.2 million, or $1.26 per share, in 2023. The company projects earnings within a 2025 guidance range of between $4.67 per share and $4.82 per share, with a long-term EPS growth rate through 2029 expected to be in a 5 to 7 percent range.

Cash flows provided by operating activities totaled $2.16 billion in 2024, compared with $1.65 billion in 2023. The company's available borrowing capacity under its commercial paper programs totaled $607.2 million as of December 31, 2024. Eversource Energy issued $4.50 billion of new long-term debt and repaid $1.95 billion of long-term debt in 2024.

Eversource Energy paid dividends totaling $2.86 per common share in 2024, compared with dividends of $2.70 per common share in 2023. The company projects capital expenditures of $24.17 billion from 2025 through 2029, with significant investments planned in the electric distribution, natural gas distribution, and electric transmission segments.

In strategic developments, Eversource Energy entered into a definitive agreement to sell Aquarion, with the sale expected to close in late 2025. The company also completed the sale of its ownership shares in various wind projects, recognizing an aggregate net after-tax loss on the sales of its offshore wind investments of $524 million.

Eversource Energy's regulated companies, including the electric distribution, electric transmission, natural gas distribution, and water distribution segments, reported a net income of $1,393.6 million in 2024, with the electric distribution segment's earnings increasing primarily due to higher revenues from base distribution rate increases.

Following these announcements, the company's shares moved -1.4%, and are now trading at a price of $61.61. If you want to know more, read the company's complete 10-K report here.

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