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November 7, 2014

NU 3Q profits rise on lower expenses

Northeast Utilities, which is co-headquartered in Hartford and Boston, reported a 12 percent increase in third-quarter profits, despite flat revenue, thanks to a decline in operating expenses.

NU earned net income of $234.6 million, or 74 cents per share diluted, up from $209.5 million, or 66 cents, in the third quarter of 2013.

Revenue was virtually flat at $1.89 billion.

Operating expenses declined by nearly $42 million, or 2.8 percent. Integration charges were also lower for the recent quarter.

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