Eversource Energy - ES STOCK NEWS

Williams Industrial Services Group reported a revenue decline to $56.7 million in Q3 2022 from $73.4 million in Q3 2021, attributed to lower decommissioning and nuclear business. The company recorded net income of $3.6 million ($0.14/share) compared to $0.8 million ($0.03/share) last year. Backlog increased to $352.7 million, with $168.2 million expected to convert to revenue in the next year. However, guidance was adjusted downwards for 2022, with expected revenue now $245-$255 million, alongside margin compressions and anticipated losses in the Florida water business.

Eversource is committing to science-based targets for carbon reduction, aligning with global climate goals at COP27 in Egypt. The company aims to establish measurable greenhouse gas (GHG) reduction targets within 24 months, collaborating with the Science Based Target initiative (SBTi). This initiative builds on Eversource's 2030 carbon neutrality goal and their efforts in renewable energy such as solar and offshore wind. Eversource is recognized for its commitment to sustainability and leadership in environmental, social, and governance (ESG) practices, serving approximately 4.4 million customers in the Northeast.

Eversource Energy (NYSE: ES) reported Q3 2022 earnings of $349.4 million ($1.00 per share), a significant increase from $283.2 million ($0.82 per share) in Q3 2021. Year-to-date earnings reached $1,084.7 million ($3.13 per share), up from $913.8 million ($2.65 per share) in the same period last year. The company reaffirmed its 2022 EPS guidance of $4.04 to $4.14 per share, excluding adjustments. Key performance drivers included higher revenues in electric transmission and distribution, despite challenges from rising expenses. Eversource serves approximately 4.4 million customers across New England.

Eversource Energy (NYSE: ES) will host a conference call on November 3, 2022, at 9 a.m. ET to discuss its financial performance for Q3 2022. This live audio presentation will be available on the company's website. Eversource is recognized as a leader in corporate citizenship and energy efficiency, serving approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, while actively integrating clean energy resources.

Aquarion Company has successfully acquired The Torrington Water Company (TWC) for an enterprise value of $86.4 million, structured as a stock-for-stock tax-free reorganization. TWC, now a wholly-owned subsidiary, adds approximately 10,100 customers to Aquarion's existing base of 226,000 customers in Connecticut. The merger follows regulatory approval and is expected to enhance service reliability and quality. This acquisition marks Aquarion's 87th water system integration since 2011, emphasizing its commitment to sustainable water service.

Williams Industrial Services Group (NYSE: WLMS) has signed a Master Service Agreement with Eversource Energy (NYSE: ES) to provide natural gas pipeline services in Connecticut. The MSA is effective from September 16, 2022 and spans three years, with an option for a two-year extension. This contract is part of Williams' strategy to enter the growing transmission and distribution market, benefiting from federal infrastructure spending. CEO Tracy Pagliara emphasized that this agreement will enhance the company's gross margin and overall performance.

Eversource Energy (NYSE: ES) announced leadership changes, effective December 31, 2022. Jim Judge will retire as Executive Chairman after a 45-year career, with Joe Nolan, currently President and CEO, stepping in as Chairman of the Board. Judge praised Nolan's leadership and vision, emphasizing continuity in the company’s long-term strategy. Eversource continues to focus on environmental stewardship and providing reliable energy and water services across Connecticut, Massachusetts, and New Hampshire.

The Board of Trustees of Eversource Energy (NYSE:ES) has announced a quarterly dividend of $0.6375 per share. This dividend is payable on September 30, 2022, to shareholders of record as of September 26, 2022. Eversource serves approximately 4.4 million customers across New England, including Connecticut, Massachusetts, and New Hampshire, and focuses on safety, reliability, and environmental stewardship.

Eversource Energy reported a strong second quarter of 2022, posting earnings of $291.9 million or $0.84 per share, up from $264.5 million or $0.77 per share in Q2 2021. For the first half of 2022, EPS reached $2.13 compared to $1.83 in 2021. The company narrowed its EPS guidance for 2022 to $4.04 to $4.14 per share. Improvements were driven by higher revenues across its transmission and distribution segments, although costs in other areas increased. Eversource continues to focus on clean energy strategies while serving approximately 4.4 million customers.