Eversource Energy Reports Strong Financial Performance for Q4 2024 and Full Year – Achieving 5.3% Recurring EPS Growth

Eversource Energy, a Massachusetts-based voluntary association providing energy services, recently released its unaudited financial results for the fourth quarter and full-year period ending December 31, 2024. The company disclosed a 5.3% increase in recurring earnings per share (EPS) as part of its quarterly and yearly performance update.

The unaudited financial reports revealed several key accomplishments for Eversource Energy during 2024. Noteworthy achievements include the maintenance of top decile reliability performance, significant advancements in Clean Energy initiatives in Massachusetts, the acquisition of the Mystic Property in Everett, MA, and the implementation of a new customer billing system to support Advanced Metering Infrastructure (AMI).

In addition to these achievements, Eversource Energy reported the successful exit from its offshore wind business and signed an agreement to sell its water business. The company reaffirmed its long-term growth rate of 5-7% through 2029 based on its 2024 performance.

The financial results detailed in the reports highlighted a strong performance in various segments. Electric Transmission reported an increase in earnings, while Electric Distribution and Natural Gas Distribution also showed positive growth in earnings compared to the previous year. The Water Distribution segment saw growth on a non-GAAP basis.

Eversource Energy also provided insights into its regulatory progress, outlining various rate adjustments and filings in states such as Massachusetts, Connecticut, and New Hampshire. The company emphasized its commitment to enhancing customer service, investing in critical infrastructure, and maintaining operational excellence.

Looking ahead, Eversource Energy outlined key drivers for its 2025 earnings, with a focus on transmission capital investments, base rate changes, and lower operational and maintenance expenses. As the company expects to continue enhancing its cash flows and strengthening its balance sheet, it aims to achieve sustained growth and deliver value to its shareholders.

Eversource Energy’s financial reports and strategic outlook demonstrate its dedication to reliable energy services, regulatory compliance, and sustainable growth in the energy sector. Investors and industry analysts will likely keep a close eye on the company’s performance and strategic initiatives moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Eversource Energy’s 8K filing here.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.