Eversource Energy: Initiation of Coverage – What Is Its Core Business Strategy?

Eversource Energy has reported a largely positive outcome in its first-quarter performance, reflecting the company’s steady transition towards becoming a regulated utilities business focused predominantly on delivering safe and reliable energy solutions. With gross earnings of $1.49 per share in Q1, up from $1.41 per share in the previous year, the company is on track to achieve its projected EPS guidance of $4.50 to $4.67 for 2024. This growth in earnings is attributed to various segments such as Electric Transmission and Natural Gas Distribution, both of which have seen an increase due to higher revenues and efficient capital cost recovery mechanisms.