AI English summary of an SEC filing — figures as filed
Eversource Energy ESThe company reported a full-year 2023 net loss of $(442.2) million ($(1.26) per share) and a net loss of $(1,288.5) million ($(3.68) per share) for Q4. For full-year 2022, it had earnings of $1,404.9 million ($4.05 per share), and for Q4, earnings were $320.2 million ($0.92 per share).
Key points
AI summaryThe company reported a full-year 2023 net loss of $(442.2) million ($(1.26) per share) and a net loss of $(1,288.5) million ($(3.68) per share) for Q4. For full-year 2022, it had earnings of $1,404.9 million ($4.05 per share), and for Q4, earnings were $320.2 million ($0.92 per share).
Eversource said after-tax impairment charges related to its offshore wind investment were $1,953 million ($5.58 per share) for the full year and $1,622 million ($4.63 per share) for Q4. Excluding these charges, non-GAAP earnings were $1,517.7 million ($4.34 per share) for the full year.
Eversource reported full-year 2023 earnings by segment of $643.4 million for electric transmission, $608 million for electric distribution, $224.8 million for natural gas distribution and $33.1 million for water distribution. For full-year 2022, the figures were $596.6 million, $592.8 million, $234.2 million and $36.8 million, respectively.
The company said the announced sale of South Fork Wind and Revolution Wind to Global Infrastructure Partners, together with the agreement to sell Sunrise Wind, creates a path to a full exit from its offshore wind business. It also plans to launch a process to evaluate market interest in a sale of its $1.3 billion rate base water distribution business.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Eversource Reports 2023 Full-Year and Q4 GAAP Net Loss
The company reported a full-year 2023 net loss of $(442.2) million ($(1.26) per share) and a net loss of $(1,288.5) million ($(3.68) per share) for Q4. For full-year 2022, it had earnings of $1,404.9 million ($4.05 per share), and for Q4, earnings were $320.2 million ($0.92 per share).
Source · Based on the filing body and exhibits
Offshore Wind Impairment Charges and Non-GAAP Adjustments
Eversource said after-tax impairment charges related to its offshore wind investment were $1,953 million ($5.58 per share) for the full year and $1,622 million ($4.63 per share) for Q4. Excluding these charges, non-GAAP earnings were $1,517.7 million ($4.34 per share) for the full year.
Source · Based on the filing body and exhibits
Segment Earnings for Full-Year 2023
Eversource reported full-year 2023 earnings by segment of $643.4 million for electric transmission, $608 million for electric distribution, $224.8 million for natural gas distribution and $33.1 million for water distribution. For full-year 2022, the figures were $596.6 million, $592.8 million, $234.2 million and $36.8 million, respectively.
Source · Based on the filing body and exhibits
Offshore Wind Exit and Review of Water Business Sale
The company said the announced sale of South Fork Wind and Revolution Wind to Global Infrastructure Partners, together with the agreement to sell Sunrise Wind, creates a path to a full exit from its offshore wind business. It also plans to launch a process to evaluate market interest in a sale of its $1.3 billion rate base water distribution business.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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