July 31, 2015

Higher revenue sparks Eversource's 2Q profits

Eversource Energy said its second-quarter profits jumped nearly 63 percent, thanks to higher revenue and the lack of a multi-million regulatory charge it incurred in the prior-year quarter.

Profits for the second quarter totaled $207.5 million, of 65 cents per diluted share, up from $127.4 million, or 40 cents, in the same quarter last year.

Eversource, formerly Northeast Utilities, said operating revenue climbed $140 million, or 8.3 percent, to $1.82 billion.

Electric transmission earnings for the quarter were up more than 80 percent, to $80.4 million.

The second quarter last year included a $32.1 million charge related to a Federal Energy Regulatory Commission order that lowered the authorized return on equity that owners of New England electric transmission system were permitted to earn.

Read more

Fed. regulator probes electric transmission rates amid rising costs

With extra funds, urban-renewal oasis' facelift on track

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

Today's Poll Who will win the Hartford mayoral election?<>
Most Popular on Facebook
Copyright 2017 New England Business Media