Eversource Q2 2023 Earnings Report
Key Takeaways
Eversource Energy reported earnings of $15.4 million, or $0.04 per share, for the second quarter of 2023, significantly lower than the $291.9 million, or $0.84 per share, reported in the second quarter of 2022. The results include an after-tax impairment charge of $331.0 million related to its offshore wind investment. Excluding this charge and other transaction costs, the company earned $352.6 million, or $1.00 per share.
Second quarter earnings were impacted by a $331.0 million after-tax impairment charge related to offshore wind investments.
Excluding the impairment charge and other costs, non-GAAP earnings were $1.00 per share.
The company reiterated its 2023 non-GAAP EPS projection of $4.25 to $4.43 per share.
Eversource is on track to deliver top performance record for electric reliability.
Eversource
Eversource
Eversource Revenue by Segment
Forward Guidance
Eversource Energy reiterated its 2023 non-GAAP earnings per share (EPS) projection of $4.25 to $4.43 per share, excluding the charges noted above. Eversource Energy also reaffirmed its long-term EPS growth rate from its core regulated businesses solidly in the upper half of 5-7 percent, using the $4.09 per share1 earned in 2022 as a base.
Revenue & Expenses
Visualization of income flow from segment revenue to net income