Eversource Energy Files 10-Q for Q2 2024

TL;DR

EVERSOURCE ENERGY (ES) FILED ITS Q2 10-Q. FINANCIALS LOOKING SOLID.

AI Summary

Eversource Energy (formerly NSTAR Electric Co.) filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational updates. Key entities involved include Eversource Energy, Public Service Co of New Hampshire, and NSTAR Electric Co. The report covers the period up to August 2, 2024.

Why It Matters

This filing provides investors and stakeholders with an update on Eversource Energy's financial health and operational status, crucial for understanding the company's performance in the electric services sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Numbers

• 129 — Public Document Count (Indicates the volume of documents associated with this filing.)
• 20240630 — Reporting Period End (The end date for the financial data presented in the 10-Q.)
• 20240802 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• EVERSOURCE ENERGY (company) — Filer
• NSTAR ELECTRIC CO (company) — Former Company Name
• PUBLIC SERVICE CO OF NEW HAMPSHIRE (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240802 (date) — Filing Date

FAQ

Key Financial Figures

• $5.00 — nge on which registered Common Shares, $5.00 par value per share ES New York Stock E
• $10.00 — t Light and Power Company Common Stock, $10.00 par value 6,035,205 shares NSTAR Elect
• $1.00 — s NSTAR Electric Company Common Stock, $1.00 par value 200 shares Public Service Co

Filing Documents

• es-20240630.htm (10-Q) — 4136KB
• q2202410q-ex31xeversource.htm (EX-31) — 10KB
• q2202410q-ex311xeversource.htm (EX-31.1) — 10KB
• q2202410q-ex32xeversource.htm (EX-32) — 7KB
• q2202410q-exhibit31xclp.htm (EX-31) — 10KB
• q2202410q-exhibit311xclp.htm (EX-31.1) — 10KB
• q2202410q-exhibit32xclp.htm (EX-32) — 7KB
• q2202410q-exhibit31xnste.htm (EX-31) — 10KB
• q2202410q-exhibit311xnste.htm (EX-31.1) — 10KB
• q2202410q-exhibit32xnste.htm (EX-32) — 7KB
• q2202410q-exhibit31xpsnh.htm (EX-31) — 10KB
• q2202410q-exhibit311xpsnh.htm (EX-31.1) — 10KB
• q2202410q-exhibit32xpsnh.htm (EX-32) — 7KB
• es-20240630_g1.jpg (GRAPHIC) — 11KB
• 0000072741-24-000018.txt ( ) — 19072KB
• es-20240630.xsd (EX-101.SCH) — 90KB
• es-20240630_cal.xml (EX-101.CAL) — 119KB
• es-20240630_def.xml (EX-101.DEF) — 658KB
• es-20240630_lab.xml (EX-101.LAB) — 841KB
• es-20240630_pre.xml (EX-101.PRE) — 901KB
• es-20240630_htm.xml (XML) — 4077KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION ITEM 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Eversource Energy and Subsidiaries (Unaudited) Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Statements of Common Shareholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 The Connecticut Light and Power Company (Unaudited) Condensed Balance Sheets 5 Condensed Statements of Income 6 Condensed Statements of Comprehensive Income 6 Condensed Statements of Common Stockholder's Equity 7 Condensed Statements of Cash Flows 8 NSTAR Electric Company and Subsidiary (Unaudited) Condensed Consolidated Balance Sheets 9 Condensed Consolidated Statements of Income 10 Condensed Consolidated Statements of Comprehensive Income 10 Condensed Consolidated Statements of Common Stockholder's Equity 11 Condensed Consolidated Statements of Cash Flows 12 Public Service Company of New Hampshire and Subsidiaries (Unaudited) Condensed Consolidated Balance Sheets 13 Condensed Consolidated Statements of Income 14 Condensed Consolidated Statements of Comprehensive Income 14 Condensed Consolidated Statements of Common Stockholder's Equity 15 Condensed Consolidated Statements of Cash Flows 16 Combined Notes to Condensed Financial Statements (Unaudited) 17 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations Eversource Energy and Subsidiaries 39 The Connecticut Light and Power Company , NSTAR Electric Company and Subsidiary, and Public Service Company of New Hampshire and Subsidiaries 54 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 58 ITEM 4.

Controls and Procedures

Controls and Procedures 59

– OTHER INFORMATION

PART II – OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 59 ITEM 1A.

Risk Factors

Risk Factors 59 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 59

Defaults Upon Senior Securities 59

ITEM 3. Defaults Upon Senior Securities 59

Mine Safety Disclosures 59

ITEM 4. Mine Safety Disclosures 59

Other Information 59

ITEM 5. Other Information 59 ITEM 6. Exhibits 60

SIGNATURES

SIGNATURES 61 iii EVERSOURCE ENERGY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Thousands of Dollars) As of June 30, 2024 As of December 31, 2023 ASSETS Current Assets: Cash $ 33,381 $ 53,873 Receivables, Net (net of allowance for uncollectible accounts of $ 579,582 and $ 554,455 as of June 30, 2024 and December 31, 2023, respectively) 1,473,255 1,431,531 Unbilled Revenues 196,710 225,325 Materials, Supplies, Natural Gas and REC Inventory 532,415 507,307 Regulatory Assets 2,071,652 1,674,196 Prepayments and Other Current Assets 365,209 355,762 Total Current Assets 4,672,622 4,247,994 Property, Plant and Equipment, Net 41,126,153 39,498,607 Deferred Debits and Other Assets: Regulatory Assets 4,995,989 4,714,970 Goodwill 4,532,135 4,532,100 Investments in Unconsolidated Affiliates 949,037 660,473 Prepaid Pension and PBOP 1,101,017 1,028,207 Marketable Securities 331,730 337,814 Other Long-Term Assets 643,771 592,080 Total Deferred Debits and Other Assets 12,553,679 11,865,644 Total Assets $ 58,352,454 $ 55,612,245 LIABILITIES AND CAPITALIZATION Current Liabilities: Notes Payable $ 1,401,600 $ 1,930,422 Long-Term Debt – Current Portion 1,328,251 824,847 Rate Reduction Bonds – Current Portion 43,210 43,210 Accounts Payable 1,759,283 1,869,187 Accrued Interest 327,814 260,577 Regulatory Liabilities 652,291 591,750 Other Current Liabilities 740,700 821,404 Total Current Liabilities 6,253,149 6,341,397 Deferred Credits and Other Liabilities: Accumulated Deferred Income Taxes 5,249,786 5,303,730 Regulatory Liabilities 4,092,811 4,022,923 Asset Retirement Obligations 508,733 505,844 Accrued Pension, SERP and PBOP 125,381 123,754 Other Long-Term Liabilities 966,558 1,029,238 Total Deferred Credits and Other Liabilities 10,943,269 10,985,489 Long-Term Debt 25,836,078 23,588,616 Rate Reduction Bonds 345,677 367,282 Noncontrolling Interest – Preferred Stock of Subsidiaries 155,568 155,569 Common Share

View Full Filing

View this 10-Q filing on SEC EDGAR