Eversource Energy (ES) recently reported a rise in profits for its first quarter, surpassing last year's figures for the same period and exceeding market predictions.
The company's net income reached a total of $521.85 million, or $1.49 per share. This is a substantial increase compared to the $491.16 million, or $1.41 per share, reported in the first quarter of the previous year.
Average expectations from analysts forecasted that Eversource would earn $1.46 per share. These estimates were obtained through a compilation of figures by Thomson Reuters and typically do not incorporate special items.
However, the company noted a 12.4% decline in revenue for the quarter, dropping to $3.33 billion from a previous $3.80 billion.
A quick snapshot of Eversource Energy's earnings (in accordance with GAAP) is as follows:
- First-quarter earnings: $521.85 million, a jump from last year's $491.16 million.
- Earnings Per Share (EPS) for the first quarter: $1.49, up from $1.41 last year.
- First-quarter revenue: $3.33 billion, a decrease from $3.80 billion last year.
For the full year, the company has provided an EPS guidance in the range of $4.50 - $4.67.
