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Eversource Energy (NYSE:ES) is a distinguished Fortune 500 and S&P 500 energy company based in Connecticut, Massachusetts, and New Hampshire. As the operator of New England’s largest energy delivery system, Eversource Energy serves over 3.7 million electric and natural gas customers. The company is steadfast in its commitment to safety, reliability, environmental leadership, and expanding energy options.
Founded with a commitment to customer satisfaction and community service, Eversource Energy has grown through strategic acquisitions, including NStar in 2012, Aquarion in 2017, and Columbia Gas in 2020. This expansion has enabled the company to provide rate-regulated electric, gas, and water distribution services to more than 4 million customers in the Northeast U.S.
In recent developments, Eversource Energy is in the process of exiting its 50% partnership with European utility Ørsted to develop 2 gigawatts of offshore wind projects in the Northeast U.S. This move is part of the company's broader strategy to focus on its core regulated businesses. Eversource had previously exited most of its unregulated businesses in 2006.
At the heart of Eversource Energy’s success are its dedicated employees. The company prides itself on fostering a diverse, talented team that values teamwork, collaboration, and safety. This engaged workforce is essential to delivering reliable energy services and achieving the company’s goals.
Financially, Eversource Energy remains robust, with ongoing projects aimed at improving infrastructure and expanding renewable energy sources. The company’s dedication to environmental stewardship is evident through its initiatives to enhance energy efficiency and sustainability.
Recent news highlights the dynamic nature of Eversource’s operations:
- Partnership exit with Ørsted for offshore wind projects.
- Ongoing infrastructure improvements.
- Commitment to environmental sustainability.
Eversource Energy (NYSE: ES) reported full-year 2022 earnings of $1,404.9 million ($4.05 per share), up from $1,220.5 million ($3.54 per share) in 2021. The company also posted fourth quarter earnings of $320.2 million ($0.92 per share), compared to $306.7 million ($0.89 per share) in Q4 2021. Excluding after-tax charges, adjusted earnings were $1,419.9 million ($4.09 per share) for the full year. Eversource projects 2023 non-GAAP earnings between $4.25 and $4.43 per share. Key drivers of improved results included higher revenues and lower pension expenses across Electric Transmission and Natural Gas Distribution segments. However, the Electric Distribution segment saw lower Q4 earnings due to a $10 million commitment to assist Connecticut households with energy costs.
Eversource Energy announced a quarterly dividend of $0.675 per share, payable on March 31, 2023, to shareholders of record as of March 2, 2023. This declaration reflects the company's ongoing commitment to return value to its shareholders. Additionally, a conference call with financial analysts is scheduled for February 14, 2023, at 9 a.m. Eastern Time, where senior management will discuss the company's financial performance for 2022. Eversource serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, and is recognized as a leader in corporate responsibility and energy efficiency.
Ørsted and Eversource have jointly submitted a proposal for New York's third offshore wind solicitation, aiming to deliver renewable power to over 1 million homes. This project is projected to create thousands of jobs and contribute billions to the state economy, while focusing on environmental justice and integrating clean energy solutions. The joint venture is developing South Fork Wind and Sunrise Wind, with total capacities of 130 MW and 924 MW, respectively. New York is set to lead the nation in offshore wind with a goal of 9,000 MW by 2035. This initiative is supported by a $500 million investment for offshore wind infrastructure.
Eversource Energy (NYSE: ES) has been recognized for the fourth consecutive year in the JUST Capital and CNBC's Rankings of America’s Most JUST Companies. This annual list celebrates corporations demonstrating corporate responsibility towards their customers, communities, and environment. Eversource is noted for its commitment to social justice, environmental stewardship, and community partnerships. The company serves approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, emphasizing its role in delivering safe and reliable energy.
Eversource Energy (NYSE: ES) announced the election of Loretta D. Keane to its Board of Trustees, effective January 1, 2023. Keane is appointed Vice Chair of the Audit Committee and a member of the Finance Committee. With a strong financial background and extensive experience in technology-enabled services, she aims to provide insights that enhance Eversource's commitment to delivering reliable energy and supporting a clean energy future. Eversource continues to be recognized for its corporate citizenship, serving approximately 4.4 million customers in New England.
The Board of Trustees of Eversource Energy (NYSE:ES) has announced a quarterly dividend of $0.6375 per share. This dividend is set to be paid on December 30, 2022, to shareholders on record as of the close of business on December 16, 2022. Eversource Energy is the largest energy delivery company in New England, serving approximately 4.4 million customers across Connecticut, Massachusetts, and New Hampshire, with about 348 million common shares outstanding.
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.