Eversource Q2 GAAP EPS $0.04 vs $0.84, hit by $331M offshore wind impairment; adj. EPS $1.00 beats $0.86

NSTAR ELECTRIC CO

Q2 GAAP EPS $0.04 diluted vs $0.84 YoY; includes $331M after-tax ($0.95/share) offshore wind impairment.
Non-GAAP adjusted EPS $1.00 vs $0.86 YoY, beating prior year by ~16%; revenue $2.63B vs $2.57B.
Reiterated 2023 non-GAAP EPS guidance $4.25–$4.43; long-term EPS growth rate reaffirmed at upper half of 5–7%.
Electric transmission earnings $161M (+6% YoY); electric distribution $165.5M (+28% YoY) on higher revenues and favorable NH regulatory decision.
Completed strategic review of offshore wind; sold undeveloped lease area to Ørsted and advancing sale of project interests.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NSTAR ELECTRIC CO reported second quarter and first six months ended June 30, 2023 results: net income earnings of $15.4 million, or $0.04 per share, in the second quarter of 2023, compared with earnings of $291.9 million,. Guidance reaffirmed.

Period: second quarter and first six months ended June 30, 2023
Net income: earnings of $15.4 million, or $0.04 per share, in the second quarter of 2023, compared with earnings of $291.9 million,
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On July 31, 2023, Eversource Energy issued a news release announcing its unaudited results of operations for the second quarter and first six months ended June 30, 2023, and related financial information for certain of its subsidiaries as of and for the same period.

View on SEC.gov

Browse all earnings releases →

NSTAR ELECTRIC CO filing history →

Source: SEC EDGAR

accession 0001104659-23-085829

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.