Eversource Energy ES reported fourth-quarter 2024 adjusted earnings of $1.01 per share, which surpassed the Zacks Consensus Estimate of 99 cents by 2%. The bottom line also increased 6.3% from the year-ago figure of 95 cents.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Total Revenues of ES

Revenues of $2.97 billion beat the Zacks Consensus Estimate of $2.81 billion by 5.7%. Total revenues also increased 10.4% from the year-ago figure of $2.69 billion.

Full-year 2024 revenues totaled $11.9 billion compared with $11.91 billion in the previous year.

Highlights of ES’ Q4 Results

Total operating expenses were $2.62 billion, up 22.8% year over year due to higher operations and maintenance expenses and increased depreciation and amortization expenses.

Operating income totaled $347.8 million, down 37.7% year over year.

Interest expenses amounted to $288.7 million, 24.8% higher than the prior-year level.

ES’ Segmental Performance

Electric Transmission: Earnings totaled $184 million, up 10.2% year over year. This was due to a higher level of investment in Eversource Energy’s electric transmission system.

Electric Distribution: Earnings amounted to $110.4 million, up 6.5% year over year. This was due to higher revenues from base distribution rate increases for Eversource Energy’s Massachusetts and New Hampshire electric businesses and continued investments in its distribution system.

Natural Gas Distribution: This segment reported earnings of $103.4 million compared with $76.5 million in the year-ago quarter.

Water Distribution: Earnings amounted to $7.5 million, up 31.6% year over year.

Eversource Parent & Other Companies: The segment reported a loss of $34.5 million, wider than the loss of $19.4 million in the year-ago quarter. This was due to higher interest expense, partially offset by a lower effective tax rate.

ES’ Guidance

Eversource Energy expects 2025 earnings to be in the range of $4.67-$4.82 per share. The Zacks Consensus Estimate is pegged at $4.77 per share, higher than the midpoint of the company’s guided range.

ES expects long-term EPS growth rate to be between 5% and 7% through 2029, using $4.57 (in 2024) as a base.

The company expects capital investments of nearly $24.2 billion for 2025-2029.

ES’ Zacks Rank

Eversource Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

IDACORP IDA is scheduled to report fourth-quarter results on Feb. 20, before market open. The Zacks Consensus Estimate for earnings is pegged at 63 cents per share, which suggests a year-over-year increase of 3.3%.

IDA’s long-term (three to five years) earnings growth rate is 8.35%. The Zacks Consensus Estimate for 2024 earnings is pinned at $5.42 per share, which implies a year-over-year improvement of 5.5%.

Alliant Energy LNT is slated to report fourth-quarter results on Feb. 20, after market close. The Zacks Consensus Estimate for earnings is pegged at 68 cents per share.

LNT’s long-term earnings growth rate is 6.75%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $1.20 billion.

Pinnacle West Capital Corporation PNW is scheduled to report fourth-quarter results on Feb. 25, before market open. The Zacks Consensus Estimate for earnings is pegged at a loss of 15 cents per share.

PNW’s long-term earnings growth rate is 5.58%. The Zacks Consensus Estimate for 2024 earnings is pinned at $5.13 per share, which implies a year-over-year improvement of 16.3%.

 

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