Eversource Energy (ES) Q4 2024 Earnings Call

Concluded Feb 11, 2025

Feb 11, 2025 0 turns

Period: FY2024 Q4
Runtime: —
Sources: 3 artifacts

Slides 25 8-K 10-K

Executive readout · one minute

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FERC ROE decision and appeal 78 Aquarian divestiture 15 Refund liability and reserves 10 Grid resilience and storm response 6 Massachusetts energy policy 6 Long-term earnings growth 4

Management tone

Cautious

Net tone -15 · moderate hedging

Grounding quotes

“we believe this decision by FERC departs from the statutory limitations imposed by the Federal Power Act and long-standing judicial precedent requiring FERC to set just and reasonable rates of return sufficient to attract the capital needed for essential utility investment”
“On the back of the FERC ROE decision, which lowered our transmission base ROE to 9.57, we did adjust our guidance for 2026, which John will reiterate in a few minutes. we are reaffirming our long-term earnings growth rate of 5% to 7% off the midpoint of our revised 2026 guidance”
“We recognize that this will be a big ask and as we do in other jurisdictions, we will collaborate with Pura and other key stakeholders to submit a rate case filing that is constructive, responsible and designed to protect the interests of customers”
“We were a bit, you know, taken back by this harsh decision that was just issued by FRER”

Research coverage

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Revenue · derived Q4 $2.97B +10.3% YoY

Net income · derived Q4 $74.40M