Welcome to our dedicated page for Eversource Energ news (Ticker: ES), a resource for investors and traders seeking the latest updates and insights on Eversource Energ stock.
Eversource Energy (NYSE: ES) is a regulated utility holding company that transmits and delivers electricity and natural gas and supplies water to approximately 4.6 million customers in Connecticut, Massachusetts and New Hampshire. This news page aggregates company-issued updates and other coverage related to ES, giving investors and observers a focused view of developments affecting New England’s largest energy delivery system.
News about Eversource frequently includes quarterly and year-to-date earnings reports, where the company discusses segment performance in electric transmission, electric distribution, natural gas distribution, water distribution and parent and other companies. These releases explain how base distribution rate changes, infrastructure investment and cost trends influence results, and often reference non-GAAP earnings measures that exclude certain offshore wind and transaction-related items.
Readers can also expect dividend declarations from the Board of Trustees, detailing quarterly cash dividends on Eversource common shares, as well as announcements of earnings conference calls and webcasts for financial analysts. Regulatory and strategic updates appear in the news flow as well, such as statements on decisions by the Connecticut Public Utilities Regulatory Authority regarding the proposed sale of the Aquarion Water Company and information on Eversource’s capital structure, including equity issuance and parent company debt offerings.
Eversource’s news highlights its role in the clean energy transition, featuring recognition as the #1 U.S. utility on TIME’s List of World’s Best Companies for 2024, rankings as the #1 energy efficiency provider in the nation, and inclusion among America’s Climate Leaders. Coverage includes updates on integrating clean energy resources, such as a networked geothermal pilot project, solar, offshore wind, electric vehicles and battery storage, into the electric system. Investors and stakeholders can use this page to follow financial performance, regulatory milestones, sustainability recognition and other material events disclosed by the company.
Eversource Energy (NYSE: ES) reported a Q3 2024 loss of $(118.1) million, or $(0.33) per share, compared to earnings of $339.7 million ($0.97/share) in Q3 2023. Non-GAAP recurring earnings were $405.9 million ($1.13/share) in Q3 2024. The company updated its 2024 non-GAAP recurring earnings projection to $4.52-$4.60 per share, down from $4.50-$4.67, citing higher interest expenses. The results include a $524.0 million after-tax loss related to offshore wind investment divestiture. Eversource reaffirmed its 5-7% long-term earnings growth rate and increased capital investments forecast to $23.7 billion for 2024-2028.
Eversource (NYSE: ES) has been recognized on TIME's List of World's Best Companies for 2024, ranking #396 overall and #1 among U.S. utilities. The ranking, compiled in collaboration with Statista, evaluated companies based on employee satisfaction, revenue growth, and ESG metrics. Eversource Chairman, President & CEO Joseph Nolan highlighted the company's commitment to sustainability and employee engagement as core values.
Eversource serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, providing electricity, natural gas, and water services. The company is known for its energy efficiency initiatives and efforts in integrating clean energy resources, including a pioneering networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage.
Eversource Energy (NYSE: ES) has announced a webcast conference call with financial analysts scheduled for Tuesday, November 5, 2024, at 9 a.m. Eastern Time. The call will focus on reviewing the company's financial performance through the third quarter of 2024. Interested parties can access the live audio presentation from the Investors section of the Eversource website.
Eversource, recognized as a national leader in corporate citizenship, is featured in Newsweek's list of America's Most Responsible Companies for 2024 and has been named a Five-Year Champion. The company serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, providing electricity, natural gas, and water services. As the #1 energy efficiency provider in the nation, Eversource employs about 10,000 people and is committed to delivering reliable energy and water with superior customer service.
Eversource Energy (NYSE: ES) has completed the sale of its 50% interest in the South Fork Wind and Revolution Wind projects to Global Infrastructure Partners (GIP) for adjusted gross proceeds of $745 million. This sale, along with the previously completed sale of Sunrise Wind to Ørsted, marks Eversource's exit from the offshore wind business.
The company expects to record an aggregate net loss of approximately $520 million in Q3 2024, which includes a $370 million gain from the Sunrise Wind sale and anticipated increases in Revolution Wind construction costs. Eversource also expects to recognize a liability of approximately $360 million, mostly to be settled in 2026.
Despite the sale, Eversource remains committed to its equity issuance plan of up to $1.3 billion over the next several years and maintains its target FFO/Debt ratio of 14% to 15% by 2025. The company will continue to provide onshore transmission expertise to support the clean energy transition in New England.
Eversource Energy (NYSE:ES) has declared a quarterly dividend of $0.715 per share, payable on September 30, 2024, to shareholders of record as of September 23, 2024. Eversource, recognized as a national leader in corporate citizenship, is among the top energy companies in Newsweek's list of America's Most Responsible Companies for 2024. The company serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, providing electricity, natural gas, and water services. As the #1 energy efficiency provider in the nation, Eversource is committed to building a clean energy future in the Northeast through innovative projects and integration of renewable energy resources.
The Massachusetts Department of Public Utilities (DPU) has approved Eversource's Electric Sector Modernization Plan (ESMP), marking a significant step towards enhancing grid resiliency and reliability while achieving the state's clean energy goals. The plan aims to increase electrification hosting capacity to accommodate 2.5 million electric vehicles, 1 million residential heat pumps, and an additional 2.2 GW of new solar power. Eversource's ESMP also focuses on enhancing grid resiliency in environmental justice communities and increasing the use of local clean energy resources as virtual power plant alternatives.
The approval demonstrates Massachusetts' commitment to a clean energy transition that balances decarbonization objectives with customer affordability. Eversource will collaborate with stakeholders through various forums, including a newly established Community Engagement Stakeholder Advisory Group, to ensure equitable participation in clean energy infrastructure development.
Eversource Energy (NYSE: ES) has appointed Rima Hyder as its new Vice President of Investor Relations. Hyder brings over 20 years of experience in finance, communications, and investor relations across various industries. She will lead the company's investor relations strategy, focusing on developing and maintaining strong relationships with the investment community and key stakeholders.
Prior to joining Eversource, Hyder held senior investor relations positions at Crane NXT, Sportradar, FactSet, Houghton Mifflin Harcourt, and Energy Future Holdings. She began her finance career in the utility industry at Exelon Hyder holds a master's degree in organizational and social psychology from the London School of Economics and a bachelor's degree in accounting and finance with computers from the University of Kent at Canterbury.
Eversource Energy's Huntsbrook Offshore Wind (OSW) Hub project has been awarded $89 million in federal grant funding through the U.S. Department of Energy's Grid Innovation Program. The project is part of the Power Up New England portfolio, which received a total of $389 million in funding. The Huntsbrook OSW Hub will construct a new 345 kV switching station in Montville, Connecticut, creating a point of interconnection for future offshore wind developers to deliver 2,400 megawatts of offshore wind power.
The project is expected to create thousands of high-quality jobs and provide savings for Connecticut ratepayers. Eversource has committed $4 million to establish the Connecticut Institute for Clean Energy at UConn and $1 million for community benefits. Construction is anticipated to begin in 2028 and continue through 2031, pending necessary permits.
Eversource Energy (NYSE: ES) reported Q2 2024 GAAP earnings of $335.3 million, or $0.95 per share, compared to $15.4 million, or $0.04 per share, in Q2 2023. The company reaffirmed its 2024 non-GAAP recurring earnings projection of $4.50-$4.67 per share and long-term EPS growth rate of 5-7% from a 2023 base of $4.34 per share. Key highlights include:
- Electric Transmission segment earned $189.0 million in Q2 2024, up from $161.0 million in Q2 2023
- Electric Distribution segment earned $149.7 million in Q2 2024, down from $165.5 million in Q2 2023
- Natural Gas Distribution segment earned $27.1 million in Q2 2024, up from $11.7 million in Q2 2023
- Water Distribution segment earned $8.0 million in Q2 2024, down from $9.3 million in Q2 2023
Eversource Energy (NYSE: ES) has announced a webcast conference call with financial analysts on August 1, 2024, at 9 a.m. Eastern Time. The call will review the company's financial performance through the second quarter of 2024. This live audio presentation will be accessible from the Investors section of Eversource's website.
Eversource, recognized as a national leader in corporate citizenship, serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire. The company is known for its commitment to energy efficiency and clean energy initiatives, including a pioneering networked geothermal pilot project, solar, offshore wind, electric vehicles, and battery storage integration.