Eversource posts Q2 GAAP EPS $0.95 vs $0.04; reaffirms FY24 EPS guidance $4.50-$4.67

NSTAR ELECTRIC CO

GAAP net income $335.3M ($0.95/diluted share) vs $15.4M ($0.04) in Q2 2023, which included a $0.96/sh impairment charge.
Revenue $2.53B, down 3.6% YoY from $2.63B.
Reaffirms FY24 non-GAAP EPS guidance $4.50-$4.67 and long-term EPS growth 5-7% from 2023 base of $4.34.
Closed sale of Sunrise Wind to Ørsted; expects to close Revolution and South Fork Wind sales to GIP later in Q3.
Electric transmission earnings rose to $189M (+$28M); electric distribution fell to $149.7M (-$15.8M) on higher storm costs.

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