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Eversource Energy (ES)
NYSE:ES
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1Last Year’s EPS
$0.95Same Quarter Last Year
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: -9.06%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted Eversource's strategic shift towards regulated utility investments, strong recurring earnings performance, significant regulatory approvals, and notable infrastructure projects. However, this was tempered by substantial financial losses from the offshore wind divestiture and challenges in regulatory environments, particularly in Connecticut.Company Guidance
During Eversource Energy's Q3 2024 earnings call, the company provided extensive guidance on their strategic and financial outlook. Eversource reported a significant milestone with the sale of its offshore wind businesses, resulting in a net loss of $524 million, impacting their GAAP earnings to a loss of $0.33 per share, while recurring earnings were $1.30 per share. They updated their full-year 2024 recurring EPS guidance to a range of $4.52 to $4.60 due to higher-than-anticipated interest expenses. Eversource reaffirmed a robust 5% to 7% EPS growth rate through 2028, supported by a five-year capital investment plan now increased to $23.7 billion. Key investments include $6 billion in transmission infrastructure and over $10 billion in electric distribution through 2028. The company also highlighted regulatory updates, such as the approval of their Electric Sector Modernization Plan in Massachusetts, unlocking $600 million in additional investments. Additionally, Eversource has raised approximately $1 billion through its ATM program to strengthen its balance sheet, aiming for an FFO to debt ratio improvement by 2025.Divestiture of Offshore Wind Investments
Eversource completed the sale of its offshore wind investments, marking a strategic exit from the offshore wind development business and a shift to a pure-play regulated utility focus.
Strong Financial Performance
Excluding the offshore wind divestiture loss, recurring earnings were $1.30 per share in Q3, up from $0.97 per share in the same period last year.
Regulatory Approvals and Investments
The Massachusetts Department of Public Utilities approved an additional $600 million in distribution investment, leading to a $23.7 billion 5-year capital investment forecast.
Recognition and Achievements
Eversource was recognized by Time Magazine as the #1 utility in the United States and one of the best companies to work for globally.
Innovative Infrastructure Projects
The $1.5 billion to $1.6 billion Cambridge underground substation project has been approved and is set to begin construction in Q1 2025.
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ES Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ES Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $62.62 | $61.31 | -2.09% |
| Jul 31, 2024 | $63.43 | $64.57 | +1.80% |
| May 01, 2024 | $59.51 | $58.67 | -1.41% |
| Feb 14, 2024 | $51.99 | $54.43 | +4.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Eversource Energy (ES) report earnings?
Eversource Energy (ES) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Eversource Energy (ES) earnings time?
Eversource Energy (ES) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ES EPS forecast?
ES EPS forecast for the fiscal quarter 2024 (Q4) is $1.
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