Articles from Eversource Energy

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.7525 per share, payable on March 31, 2025, to shareholders of record as of the close of business on March 4, 2025.

Eversource Energy (NYSEES) (“Eversource”) today announced that it has entered into a definitive agreement to sell Aquarion Water Company (“Aquarion”) to the Aquarion Water Authority (“AWA”), 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 (“RWA”). Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. The aggregate value represents 1.7X rate base at December 2024. The proceeds from the sale will enable Eversource to pay down parent company debt while efficiently reinvesting capital into its core electric and natural gas businesses, enabling additional investments in reliability for customers and strengthening Eversource’s financial position. As a result of this transaction, Eversource expects to record a loss on the planned sale of Aquarion of approximately $300 million in its results for the fourth quarter of 2024. This loss on sale includes approximately $140 million of estimated income tax expense. Eversource reaffirms its long-term EPS growth target of between 5% and 7% through 2028.

For the sixth year in a row, Eversource Energy (NYSEES) has again been recognized by Newsweek and Statista Inc. as one of America’s Most Responsible Companies for 2025. The prestigious award highlights the energy company’s excellence in environmental, social, and corporate governance (ESG) initiatives – reaffirming Eversource’s steadfast commitment to sustainability throughout its operations and a workplace culture that deeply embraces the values of corporate and social responsibility.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.715 per share, payable on December 31, 2024, to shareholders of record as of the close of business on December 18, 2024.

Eversource Energy (NYSEES) today reported a loss of $(118.1) million, or $(0.33) per share, for the third quarter of 2024, compared with earnings of $339.7 million, or $0.97 per share, for the third quarter of 2023. Eversource Energy earnings totaled $739.1 million, or $2.08 per share, in the first nine months of 2024, compared with earnings of $846.2 million, or $2.42 per share, in the first nine months of 2023. For non-GAAP recurring earnings, Eversource Energy earned $405.9 million1, or $1.13 per share1 in the third quarter of 2024, compared with earnings of $339.7 million, or $0.97 per share, for the third quarter of 2023. Non-GAAP recurring earnings totaled $1.26 billion1, or $3.56 per share1, in the first nine months of 2024, and $1.18 billion1, or $3.38 per share1, in the first nine months of 2023.

Eversource Energy will webcast a conference call with financial analysts on Tuesday, November 5, 2024, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the third quarter of 2024.

Eversource Energy (NYSEES) today announced that it has completed the sale of its 50 percent interest in the 132-megawatt South Fork Wind project (South Fork Wind) and the 704-megawatt Revolution Wind project (Revolution Wind) to Global Infrastructure Partners (GIP). Adjusted gross proceeds from the transaction were $745 million.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.715 per share, payable on September 30, 2024, to shareholders of record as of the close of business on September 23, 2024.

Eversource Energy (NYSEES) is pleased to announce Rima Hyder as the company’s new Vice President of Investor Relations. Hyder brings more than 20 years of experience in finance, communications and investor relations, spanning several industries, to Eversource, where she will lead the company’s investor relations strategy to develop and maintain strong relationships with the investment community and other key stakeholders. Matt Fallon will continue to support the Investor Relations team and other finance related corporate initiatives.

Eversource Energy is pleased to announce its Huntsbrook Offshore Wind (OSW) Hub project proposal was recently awarded $89 million in federal grant funding through the second round of the U.S. Department of Energy’s Grid Innovation Program. The Huntsbrook OSW Hub proposal was included in the Power Up New England project portfolio that was selected to receive $389 million in total funding through the DOE program and will support New England’s clean energy transition while improving grid reliability across the region.

Eversource Energy (NYSEES) today reported GAAP earnings of $335.3 million, or $0.95 per share, for the second quarter of 2024, compared with earnings of $15.4 million, or $0.04 per share, for the second quarter of 2023. For the first half of 2024, Eversource Energy reported GAAP earnings of $857.2 million, or $2.43 per share, compared with earnings of $506.6 million, or $1.45 per share, for the first half of 2023.

Eversource Energy will webcast a conference call with financial analysts on Thursday, August 1, 2024, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the second quarter of 2024.

Eversource Energy (NYSEES) today announced that it has completed the sale of its 50 percent ownership share in the 924-megawatt Sunrise Wind project (Sunrise Wind) to Ørsted. Gross proceeds of the transaction are $230 million, subject to spending adjustments between signing and closing, with 50% due at closing and the remaining balance paid upon the achievement of certain construction milestones.

For a second consecutive year, Eversource Energy (NYSEES) has been recognized by USA TODAY and Statista Inc. as one of America’s Climate Leaders for 2024. Ranked among the top utilities on the list, this distinction highlights the energy company’s efforts to reduce its greenhouse gas emissions intensity which is rooted in an unwavering commitment to sustainability throughout its operations.

Eversource Energy (NYSEES) today reported earnings of $521.8 million, or $1.49 per share, for the first quarter of 2024, compared with earnings of $491.2 million, or $1.41 per share, for the first quarter of 2023.

Eversource Energy (NYSEES) (“Eversource”) today announced it has finalized definitive documents regarding its previously announced agreement to sell its 50 percent ownership stake in the 924-megawatt Sunrise Wind project to Ørsted.

Eversource Energy will webcast a conference call with financial analysts on Thursday, May 2, 2024, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the first quarter of 2024.

Eversource Energy (NYSEES) today reported a full-year 2023 loss of $(442.2) million, or $(1.26) per share, compared with full-year 2022 earnings of $1,404.9 million, or $4.05 per share. Eversource also reported a fourth quarter 2023 loss of $(1,288.5) million, or $(3.68) per share, compared with fourth quarter 2022 earnings of $320.2 million, or $0.92 per share.

Eversource Energy (NYSEES) (“Eversource”) today announced it has executed a definitive agreement to sell its 50 percent ownership share in South Fork Wind and Revolution Wind to Global Infrastructure Partners (GIP). The transaction allows Eversource to realize approximately $1.1 billion of cash proceeds upon closing and to exit these projects while retaining certain cost sharing obligations for the construction of Revolution Wind. These cost sharing obligations provide that Eversource would share equally with GIP in GIP’s funding obligations for up to approximately $240 million of incremental capital expenditure overruns incurred, after which GIP’s obligations for any additional capital expenditure overruns would be borne by Eversource consistent with the existing joint venture terms. In addition, around the time of commercial operation of Revolution Wind and closing for South Fork Wind, Eversource’s financial exposure will be adjusted after taking into account the updated project economics. Commercial operation of Revolution Wind is expected in 2025. Since South Fork Wind is expected to enter service before the transaction closes, Eversource’s financial ties to South Fork Wind, other than as a tax equity partner, are expected to largely be resolved at closing. Eversource plans to use the proceeds from this sale to repay parent debt.

The Eversource Energy Board of Trustees declared a quarterly dividend of $0.715 per share, payable March 29, 2024, to shareholders of record as of March 5, 2024.

Eversource Energy (NYSEES) provided the following updates regarding its process to divest its 50 percent ownership interest in three offshore wind projects: South Fork Wind, Revolution Wind and Sunrise Wind. Eversource currently holds its share of these three projects in two separate joint venture partnerships with Ørsted (each, a “JV”), one that holds only South Fork Wind and another that holds both Revolution Wind and Sunrise Wind. Eversource also separately holds a tax equity investment in South Fork Wind.

To be named once or twice to Newsweek magazine’s – in partnership with global research and data firm Statista – annual list of America’s Most Responsible Companies is an accomplishment. To do it for five consecutive years is a singular achievement that affirms a workplace culture deeply committed to values embracing corporate social responsibility, sustainability, and corporate citizenship.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.675 per share, payable on December 29, 2023, to shareholders of record as of the close of business on December 18, 2023.

Eversource Energy (NYSEES) today reported earnings of $339.7 million, or $0.97 per share, for the third quarter of 2023, compared with earnings of $349.4 million, or $1.00 per share, for the third quarter of 2022. Eversource Energy earnings totaled $846.2 million, or $2.42 per share, in the first nine months of 2023, compared with earnings of $1,084.7 million, or $3.13 per share, in the first nine months of 2022.

Eversource Energy will webcast a conference call with financial analysts on Monday, November 6, 2023, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the third quarter of 2023.

Eversource Energy (NYSEES) today announced that Paul Chodak has been elected as Executive Vice President and Chief Operating Officer, effective November 13, 2023.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.675 per share, payable on September 29, 2023, to shareholders of record as of the close of business on September 25, 2023.

Eversource Energy (NYSEES) today announced that it has completed its sale of the uncommitted lease area of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction. The transaction, which was announced on May 25, 2023, closed today following approval from the Committee on Foreign Investment in the United States.

Eversource Energy (NYSEES) today reported earnings of $15.4 million, or $0.04 per share, in the second quarter of 2023, compared with earnings of $291.9 million, or $0.84 per share, in the second quarter of 2022. In the first half of 2023, Eversource Energy reported earnings of $506.6 million, or $1.45 per share, compared with earnings of $735.3 million, or $2.13 per share, in the first half of 2022.

Eversource Energy will webcast a conference call with financial analysts on Tuesday, August 1, 2023, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the second quarter of 2023.

Eversource Energy (NYSEES) today announced the election of Daniel J. Nova to its Board of Trustees effective June 1, 2023. Nova was also appointed as a member of the Compensation and Finance Committees effective June 1, 2023. Nova is currently general partner at Highland Capital Partners, a global venture capital firm with offices in Boston, Silicon Valley and San Francisco.

Eversource Energy (NYSEES) today announced that it has completed its strategic review of its 50 percent ownership interest in one of North America’s most attractive offshore wind development sites. As a result of completing this review, Eversource announces the following updates:

Eversource Energy (NYSEES) today reported first quarter 2023 earnings of $1.41 per share, compared with first quarter 2022 earnings of $1.28 per share. Results for the first quarter of 2022 included transaction- and transition-related charges of $0.02 per share. Results for the first quarter of 2023 reflect the impact of rate design changes for Eversource’s Massachusetts electric business that were effective with the implementation of new rates on January 1, 2023, and are having the effect of shifting certain peak demand revenues from the summer period to winter periods.

Eversource Energy will webcast a conference call with financial analysts on Thursday, May 4, 2023, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the first quarter of 2023.

For the fourth consecutive year, Eversource Energy (NYSEES) has been recognized by Barron’s on its list of America’s 100 Most Sustainable Companies, appearing as the top utility in the annual ranking for the second time in the last three years. Eversource’s rank also improved significantly to 17th overall on this year’s list from 40th last year, reflecting the strides the company has made in executing its strategic commitment to sustainability throughout its operations.

Eversource Energy (NYSEES) today reported full-year 2022 earnings of $1,404.9 million, or $4.05 per share, compared with full-year 2021 earnings of $1,220.5 million, or $3.54 per share. Eversource also reported fourth quarter 2022 earnings of $320.2 million, or $0.92 per share, compared with fourth quarter 2021 earnings of $306.7 million, or $0.89 per share.

The Eversource Energy Board of Trustees declared a quarterly dividend of $0.675 per share, payable March 31, 2023, to shareholders of record as of March 2, 2023.

With the release today of this year’s Rankings of America’s Most JUST Companies by JUST Capital and CNBC, Eversource Energy (NYSEES) is being nationally celebrated as a leader for corporate responsibility. The recognition marks Eversource’s fourth consecutive appearance in the top-100 of the annual list, recognizing the company’s consistent and unrelenting commitment to its customers, communities, employees, and the environment in providing safe, reliable energy service.

Eversource Energy (NYSEES) today announced the election of Loretta D. Keane to its Board of Trustees effective January 1, 2023. Keane was also appointed Vice Chair of the Audit Committee and as a member of the Finance Committee effective January 1, 2023. Keane currently serves as the chief financial officer of Arcadia Solutions, LLC, a Boston-based health-care data platform focused on delivering actionable data-driven insights to advance health care and medical research.

For the third time in the last four years, Eversource Energy (NYSEES) has been recognized by Newsweek magazine as the top utility in its annual list of America’s Most Responsible Companies, in recognition of its national leadership in promoting corporate social responsibility, sustainability and corporate citizenship.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.6375 per share, payable on December 30, 2022, to shareholders of record as of the close of business on December 16, 2022.

Eversource Energy (NYSEES) today reported earnings in the third quarter of 2022 of $349.4 million, or $1.00 per share, compared with earnings of $283.2 million, or $0.82 per share, in the third quarter of 2021. Eversource Energy earnings totaled $1,084.7 million, or $3.13 per share, in the first nine months of 2022, compared with earnings of $913.8 million, or $2.65 per share, in the first nine months of 2021.

Eversource Energy will webcast a conference call with financial analysts on Thursday, November 3, 2022, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the third quarter of 2022.

Eversource Energy (NYSEES) today announced that Jim Judge, Executive Chairman of the Board of Trustees, will retire from the board effective December 31, 2022. As part of the company’s long-standing succession plan, Joe Nolan, President and CEO, will become Chairman of the Board.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.6375 per share, payable on September 30, 2022, to shareholders of record as of the close of business on September 26, 2022.

Eversource Energy (NYSEES) today reported earnings of $291.9 million, or $0.84 per share, in the second quarter of 2022, compared with earnings of $264.5 million, or $0.77 per share, in the second quarter of 2021. In the first half of 2022, Eversource Energy reported earnings of $735.3 million, or $2.13 per share, compared with earnings of $630.7 million, or $1.83 per share, in the first half of 2021.

Eversource Energy will webcast a conference call with financial analysts on Friday, July 29, 2022, beginning at 9 a.m. Eastern Time, at which senior management will review the company’s financial performance through the second quarter of 2022.

Eversource Energy (NYSEES) today announced that it has entered into an equity distribution agreement pursuant to which it may sell its common shares having an aggregate offering price of up to $1,200,000,000 (the “Shares”) from time to time through an “at-the-market” or ATM equity offering program (the “ATM Offering”).

Eversource Energy (NYSEES) today announced that Phil Lembo is retiring as Chief Financial Officer and as part of the company’s leadership succession plan John Moreira, the company’s Senior Vice President and Treasurer, has been elected as Chief Financial Officer, effective today. Lembo, 66, has served as Eversource’s Chief Financial Officer since May 2016, and will continue to serve the company until later this year as a non-executive Senior Strategic Advisor focusing on strategic options for Eversource’s offshore wind investments.

Eversource Energy (NYSEES) today reported first quarter 2022 earnings of $443.4 million, or $1.28 per share, compared with earnings of $366.1 million, or $1.06 per share, in the first quarter of 2021. Results for the first quarters of both 2022 and 2021 include after-tax costs associated with natural gas and water utility acquisitions. Those costs were $5.3 million, or $0.02 per share, in the first quarter of 2022, and $6.2 million, or $0.02 per share, in the first quarter of 2021.

Eversource Energy will webcast a conference call with financial analysts on Thursday, May 5, 2022, beginning at 8:30 a.m. Eastern Time, at which senior management will review the company’s financial performance through the first quarter of 2022.

Eversource Energy (NYSEES) today reported full-year 2021 earnings of $1,220.5 million, or $3.54 per share, compared with earnings of $1,205.2 million, or $3.55 per share, for full-year 2020. Eversource also reported fourth quarter 2021 earnings of $306.7 million, or $0.89 per share, compared with fourth quarter 2020 earnings of $271.9 million, or $0.79 per share.

Eversource Energy will webcast a conference call with financial analysts on Thursday, February 17, 2022, beginning at 8 a.m. Eastern Time, at which senior management will discuss the company's financial performance through 2021 and the outlook for 2022.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.6375 per share, payable on March 31, 2022, to shareholders of record as of the close of business on March 3, 2022.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.6025 per share, payable on December 31, 2021, to shareholders of record as of the close of business on December 17, 2021.

Eversource Energy (NYSEES) today reported earnings of $283.2 million, or $0.82 per share, in the third quarter of 2021, compared with earnings of $346.3 million, or $1.01 per share, in the third quarter of 2020. In the first nine months of 2021, Eversource Energy earnings totaled $913.8 million, or $2.65 per share, compared with earnings of $933.2 million, or $2.76 per share, in the first nine months of 2020.

Eversource Energy will webcast a conference call with financial analysts on Wednesday, November 3, 2021, beginning at 9 a.m. Eastern Daylight Time, at which senior management will discuss the company's financial performance through the third quarter of 2021.

The Board of Trustees of Eversource Energy (NYSEES) today approved a quarterly dividend of $0.6025 per share, payable on September 30, 2021, to shareholders of record as of the close of business on September 16, 2021.

Eversource Energy (NYSEES) today reported earnings of $264.5 million, or $0.77 per share, in the second quarter of 2021, compared with earnings of $252.2 million, or $0.75 per share, in the second quarter of 2020. In the first half of 2021, Eversource Energy earnings totaled $630.7 million, or $1.83 per share, compared with earnings of $587 million, or $1.75 per share, in the first half of 2020.

Eversource Energy will webcast a conference call with financial analysts on Friday, July 30, 2021, beginning at 9 a.m. Eastern Daylight Time, at which senior management will discuss the company’s financial performance through the second quarter of 2021.

Eversource Energy (NYSEES) today reported first quarter 2021 earnings of $366.1 million, or $1.06 per share, compared with earnings of $334.8 million, or $1.01 per share, in the first quarter of 2020. Results for the first quarters of both 2021 and 2020 include after-tax costs associated with Eversource’s October 2020 acquisition of the assets of Columbia Gas of Massachusetts. Those costs were $6.2 million, or $0.02 per share, in 2021 and $3.5 million, or $0.01 per share, in 2020.

Eversource Energy will webcast a conference call with financial analysts on Monday, May 10, 2021, beginning at 9 a.m. Eastern Daylight Time, at which senior management will discuss the company’s financial performance through the first quarter of 2021.

Eversource Energy (NYSEES) today announced that Jim Judge, Chairman, President and Chief Executive Officer, will become the company’s Executive Chairman of the Board, effective May 5, 2021. Also, effective that date, as part of the company’s leadership succession plan, Joe Nolan, Executive Vice President, Strategy, Customer and Corporate Relations, will be promoted to President and CEO and is also expected to be elected to the Board of Trustees in May 2021.