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Eversource Energy logoEversource Energy ES

The company said full-year 2024 earnings were $811.7 million ($2.27 per share), compared with a full-year 2023 loss of $(442.2) million ($(1.26) per share). Non-GAAP recurring earnings for full-year 2024 totaled $1,634.0 million ($4.57 per share).

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said full-year 2024 earnings were $811.7 million ($2.27 per share), compared with a full-year 2023 loss of $(442.2) million ($(1.26) per share). Non-GAAP recurring earnings for full-year 2024 totaled $1,634.0 million ($4.57 per share).

  2. Eversource said full-year 2024 results included an aggregate net after-tax loss of $524.0 million ($1.47 per share) related to the completed sales of its offshore wind investments. It also said it recorded an after-tax loss of $298.3 million in Q4 related to the pending sale of Aquarion Water Company.

  3. The company said electric transmission segment earnings for full-year 2024 were $724.6 million (2023: $643.4 million), electric distribution earnings were $631.7 million (2023: $608.0 million), and natural gas distribution earnings were $291.0 million (2023: $224.8 million).

  4. The company set its 2025 earnings per share outlook at $4.67 to $4.82 and introduced a 5-year investment plan for 2025 to 2029 of $24.2 billion, excluding capital investments related to Aquarion Water Company. It said it expects to raise $1.2 billion of equity over the same period.

Summary

AI-written

Analysis 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.

2024 Full-Year Results and Non-GAAP Recurring Earnings

The company said full-year 2024 earnings were $811.7 million ($2.27 per share), compared with a full-year 2023 loss of $(442.2) million ($(1.26) per share). Non-GAAP recurring earnings for full-year 2024 totaled $1,634.0 million ($4.57 per share).

Source · Based on the filing body and exhibits

Offshore Wind Sale Losses and Aquarion Pending Sale Loss

Eversource said full-year 2024 results included an aggregate net after-tax loss of $524.0 million ($1.47 per share) related to the completed sales of its offshore wind investments. It also said it recorded an after-tax loss of $298.3 million in Q4 related to the pending sale of Aquarion Water Company.

Source · Based on the filing body and exhibits

Full-Year 2024 Earnings by Segment

The company said electric transmission segment earnings for full-year 2024 were $724.6 million (2023: $643.4 million), electric distribution earnings were $631.7 million (2023: $608.0 million), and natural gas distribution earnings were $291.0 million (2023: $224.8 million).

Source · Based on the filing body and exhibits

2025 Outlook and 2025 to 2029 Investment Plan

The company set its 2025 earnings per share outlook at $4.67 to $4.82 and introduced a 5-year investment plan for 2025 to 2029 of $24.2 billion, excluding capital investments related to Aquarion Water Company. It said it expects to raise $1.2 billion of equity over the same period.

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.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.