Eversource Q1 EPS $1.28 beats year-ago $1.06; initiates strategic review of offshore wind JV with Ørsted

NSTAR ELECTRIC CO

Q1 2022 net income $443.4M ($1.28 EPS) vs $366.1M ($1.06 EPS) in Q1 2021.
Reaffirms 2022 non-GAAP EPS guidance $4.00-$4.17; dividend $0.6375/share payable June 30.
Initiates strategic review of 50% offshore wind JV with Ørsted; potential sale of all or part.
CFO transition: Philip Lembo retiring; John Moreira elected EVP, CFO, Treasurer effective May 4.
Shareholders re-elected all 12 trustees and ratified Deloitte as auditor for 2022.

item 2.02 item 5.02 item 5.07 item 7.01 item 9.01

Executive movements

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Departed

Philip J. Lembo

Executive Vice President and Chief Financial Officer

NSARO · NSTAR ELECTRIC CO

Effective: 2022-05-04
Successor: John M. Moreira
Filed: May 4, 2022, 7:59 PM ET

On May 4, 2022, the Company announced that Philip J. Lembo is retiring as Executive Vice President and Chief Financial Officer as part of the Company’s leadership succession plan

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Philip J. Lembo retired as Executive Vice President and Chief Financial Officer at NSTAR ELECTRIC CO.

Action: retired
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On May 4, 2022, the Company announced that Philip J. Lembo is retiring as Executive Vice President and Chief Financial Officer as part of the Company’s leadership succession plan

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NSTAR ELECTRIC CO filing history →

Source: SEC EDGAR

accession 0001104659-22-055901

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