Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $21.00B|Employees: 10.2K
Eversource Energy is a public utility holding company primarily engaged in energy delivery. It operates through its regulated subsidiaries, providing electricity, natural gas, and water services to residential, commercial, and industrial customers across Connecticut, Massachusetts, and New Hampshire. The company's market position is strong in New England, and its competitive advantages include its established infrastructure and regulatory expertise.
The company's net income for 2024 was $811.7 million, or $2.27 per share, a considerable improvement from the $442.2 million loss, or $1.26 per share, reported in 2023. This shift indicates a recovery in financial performance.
Excluding losses from offshore wind sales, Aquarion's sale, and other specific items, non-GAAP earnings were $1.63 billion, or $4.57 per share, in 2024, compared to $1.52 billion, or $4.34 per share, in 2023. This indicates improved underlying profitability.
Cash flows provided by operating activities increased to $2.16 billion in 2024 from $1.65 billion in 2023. This improvement in operating cash flow provides increased financial flexibility.