This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.
Copyright 2024 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.03% per year. These returns cover a period from January 1, 1988 through July 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.
Visit Performance Disclosure for information about the performance numbers displayed above.
Visit www.zacksdata.com to get our data and content for your mobile app or website.
Real time prices by BATS. Delayed quotes by Sungard.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This site is protected by reCAPTCHA and the Google Privacy Policy, DMCA Policy and Terms of Service apply.
Image: Bigstock
Eversource (ES) Q2 Earnings Top Estimates, Revenues Miss
Eversource Energy (ES - Free Report) reported second-quarter 2019 operating earnings of 74 cents per share, beating the Zacks Consensus Estimate by a penny.
GAAP earnings in the second quarter were 10 cents compared with 76 cents in the year-ago period.
Total Revenues
Second-quarter revenues of $1,884.5 million lagged the Zacks Consensus Estimate of $1,923 million by 2% but improved 1.6% from the year-ago figure of $1,853.9 million.
Eversource Energy Price, Consensus and EPS Surprise
Eversource Energy price-consensus-eps-surprise-chart | Eversource Energy Quote
Highlights of the Release
Operating expenses increased 18.5% year over year to $1,733.5 million, primarily owing to higher operation and maintenance (O&M) costs.
Operating income was down 61.5% from the prior-year quarter to $150.9 million. Interest expenses increased 5% year over year to $132.7 million in the quarter.
Net income in the quarter under review was $33.3 million, down from $244.6 million recorded in the year-ago period.
Segmental Performance
Electric Distribution: Earnings from this segment were up 4% from the prior-year quarter to $105.4 million. The upside was primarily attributable to higher distribution revenues, partially offset by the absence of New Hampshire generation earnings.
Electric Transmission: Earnings of the segment improved 3.8% year over year to $117 million. The improvement was due to the new decoupled rate structure at Yankee Gas and increased earnings from capital tracking mechanisms on higher level of investment.
Natural Gas Distribution: This segment’s loss was $1.8 million against earnings of $5 million in the year-ago quarter. The segment’s weak results were due to higher O&M expenses and changes in the timing of distribution revenues.
Water Distribution: Earnings from this segment were $8 million compared with $7.2 million in the year-ago quarter. The year-over-year improvement was primarily due to continued investment in Aquarion systems and the outcome of last year's rate review in Massachusetts.
Eversource Parent & Other Companies: The segment’s income was $7.3 million compared with $16.6 million in the year-ago quarter. The weak results were due to higher interest expenses.
Guidance
Eversource reiterated its 2019 earnings guidance in the range of $3.40-$3.50 per share. The midpoint of management’s 2019 EPS guidance is $3.45, which is higher than the current Zacks Consensus Estimate of $3.44 for the period.
Zacks Rank
Eversource currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2019 adjusted earnings of $2.35 per share, beating the Zacks Consensus Estimate of $2.28 by 3.1%.
FirstEnergy Corporation (FE - Free Report) came up with second-quarter 2019 operating earnings of 61 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 1.7%.
Dominion Energy Inc. (D - Free Report) reported second-quarter 2019 operating earnings of 77 cents per share, beating the Zacks Consensus Estimate of 75 cents by 2.6%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>