Eversource Energy operates as a public utility holding enterprise, with its core operations centered on the provision and delivery of various energy ...
Eversource Energy (NYSE: ES) is a public utility holding company headquartered in Springfield, Massachusetts, with roots tracing back to 1966 when it was formed as Northeast Utilities. The company adopted its current name in April 2015. As of 2025, it employs approximately 10,731 full-time employees, serving over 4.4 million customers ...Eversource Energy (NYSE: ES) is a public utility holding company headquartered in Springfield, Massachusetts, with roots tracing back to 1966 when it was formed as Northeast Utilities. The company adopted its current name in April 2015. As of 2025, it employs approximately 10,731 full-time employees, serving over 4.4 million customers across three New England states. Eversource's operations are segmented into electric transmission, electric distribution, natural gas distribution, and water utility services. It owns and operates approximately 9,000 miles of transmission lines and 44,000 miles of distribution lines, delivering electricity to about 2.3 million customers and natural gas to about 1.9 million customers, plus water services to ~226,000 customers. Key financial metrics (TTM): market cap ~$27.3 billion, enterprise value ~$55.3 billion, revenue per share $37.18, net profit margin 10.4%, return on equity 8.9%, and dividend yield 4.2%. The company maintains a strong balance sheet with debt-to-equity of 1.82 and interest coverage of 2.28. Eversource is actively transitioning to cleaner energy, including solar generation, and invests heavily in grid modernization and resiliency. Its senior leadership is headed by Chairman, President, and CEO Joseph R. Nolan Jr., who earns approximately $19 million annually, a point of public scrutiny. The company prioritizes community support, safety, and reliability, and aims to achieve carbon neutrality by 2030. With a history of mergers, including the 2012 acquisition of NSTAR, Eversource continues to expand its service territory and invest in innovative tools to help customers manage energy costs, while navigating regulatory environments in its service areas.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$13.5B
+13.8%
-35.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$1.7B
+108.5%
-91.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+30.1%
-3.2%
+5.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+22.1%
-3.0%
-6.0%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+12.5%
+83.2%
-86.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-45.1M
+98.1%
-75.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-0.3%
+98.3%
-62.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
187.0%
-3.4%
-0.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.65x
-13.9%
+22.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, everyone, and thank you for standing by. Welcome to Eversource Energy Second Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. You will then hear a message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded. Now it is my pleasure to hand the conference to the Vice President of Investor Relations, Rima Hyder. Please proceed.
Rima Hyder: Good morning, and thank you for joining us today on our second quarter 2020 earnings call. During this call, we will be referencing slides that are available on our website at eversource.com. As you can see on Slide 1, some of the statements made during this investor call may be forward looking. These statements are based on management's current expectations and are subject to risk and uncertainty. Which may cause the actual results to differ materially from forecast and projections. We undertake no obligation to update or revise any of these statements. Additional information about the various factors that may cause actual results to differ and our explanation of non GAAP measures and how they reconcile the GAAP results is contained within our news release, the slides we posted last night and in our most recent 10 Q and 10 ks. Speaking today will be Joe Nolan, our chairman, president, and chief executive officer and John Moreira, our Executive Vice President, CFO, and Treasurer. Joining us today is Jay Buth, our vice president, controller, and chief accounting officer. I will now turn the call over to Joe.
Joseph R. Nolan Jr.: Thank you, Rima. Good morning, everyone, and thank you for joining us. Starting on Slide 4, as we complete the midpoint of the year, we are pleased with the terrific progress. we have made this quarter. Our team is focused on executing the priorities we have established over the past year. Including completing the sale of Aquarion, delivering strong operational performance and strengthening the balance sheet. At the same time, we are continuing to advance the investments needed to support safe reliable and more resilient electric and natural gas systems for our customers. As you can see on slide 5, we have several recent accomplishments. From an earnings perspective, we delivered second quarter recurring earnings per share of $0.87 in line with our expectations and we are reaffirming our long term EPS growth guidance of 5% to 7%. We have also delivered on maintaining a strong financial foundation. Which is a major focus for us. Our disciplined approach to capital allocation and balance sheet management continues to position us well to fund critical infrastructure investments. While preserving the financial flexibility needed to support long term growth. The recent Moody's change to our outlook from negative to stable is a testament to our consistent execution and …