Eversource Energy (ES - Free Report) reported first-quarter 2020 operating earnings of $1.02 per share, on par with the Zacks Consensus Estimate. However, the reported earnings improved 4.9% year over year.
Total Revenues
First-quarter revenues of $2,374 million lagged the Zacks Consensus Estimate of $2,538 million by 6.5%. Total revenues also dropped 1.7% from the year-ago figure of $2,415.8 million.
Highlights of the Release
Operating expenses decreased 4.5% year over year to $1,834.6 million, primarily owing to lower purchased power, fuel and transmission expenses.
Operating income was up 8.9% from the prior-year quarter to $539.1 million. Interest expenses increased 2.3% year over year to $134.7 million in the quarter.
Net income in the quarter under review was $334.8 million, up 8.5% from $308.7 million recorded in the year-ago period.
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Eversource Energy (ES - Free Report) reported first-quarter 2020 operating earnings of $1.02 per share, on par with the Zacks Consensus Estimate. However, the reported earnings improved 4.9% year over year.
Total Revenues
First-quarter revenues of $2,374 million lagged the Zacks Consensus Estimate of $2,538 million by 6.5%. Total revenues also dropped 1.7% from the year-ago figure of $2,415.8 million.
Highlights of the Release
Operating expenses decreased 4.5% year over year to $1,834.6 million, primarily owing to lower purchased power, fuel and transmission expenses.
Operating income was up 8.9% from the prior-year quarter to $539.1 million. Interest expenses increased 2.3% year over year to $134.7 million in the quarter.
Net income in the quarter under review was $334.8 million, up 8.5% from $308.7 million recorded in the year-ago period.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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