Eversource Energy, through its subsidiaries including NSTAR Electric Company, reported a significant increase in financial performance for the first quarter of 2025. The company achieved operating revenues of $4.12 billion, a 24% increase from $3.33 billion in the same period of 2024. Net income attributable to common shareholders rose to $550.8 million, or $1.50 per share, compared to $521.8 million, or $1.49 per share, in the prior year. This growth was primarily driven by higher revenues from electric distribution and natural gas distribution, as well as increased transmission earnings.
The company noted several strategic developments, including the announcement of a definitive agreement to sell its Aquarion water distribution business for approximately $2.4 billion. This transaction, which is subject to regulatory approvals, is expected to close in late 2025. Eversource plans to utilize the proceeds from this sale to reduce parent company debt. Additionally, the company reaffirmed its earnings guidance for 2025, projecting earnings per share between $4.67 and $4.82, with a long-term growth rate of 5% to 7% through 2029.
Operationally, Eversource reported an increase in customer engagement, with electric sales volumes rising by 3.5% year-over-year. The company also experienced a notable improvement in cash flows from operating activities, which totaled $1.04 billion for the first quarter of 2025, compared to $291.3 million in the same quarter of 2024. This increase was attributed to improved regulatory recoveries and a decrease in cash payments for storm-related costs. The company’s cash and cash equivalents also saw a significant rise, reaching $111.4 million as of March 31, 2025, up from $26.7 million at the end of 2024.
Eversource's capital expenditures for the quarter amounted to $1.01 billion, a decrease from $1.15 billion in the previous year. The investments were primarily focused on enhancing infrastructure and improving service reliability across its electric and natural gas distribution networks. The company continues to prioritize capital projects that support its long-term growth strategy while managing operational costs effectively.
Looking ahead, Eversource remains optimistic about its financial outlook, supported by ongoing investments in infrastructure and strategic initiatives aimed at enhancing service delivery. The company is also closely monitoring regulatory developments and market conditions that could impact its operations and financial performance in the future.
About NSTAR ELECTRIC CO
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