10-KPeriod: FY2015

EVERSOURCE ENERGY Annual Report, Year Ended Dec 31, 2015

Filed February 26, 2016For Securities:ES

Summary

Eversource Energy's 2015 10-K filing highlights a year of robust financial performance and significant operational investments. The company reported a net income of $878.5 million, or $2.76 per diluted share, demonstrating a 7.2% increase compared to the prior year. This growth was driven by strong contributions from both the electric distribution and transmission segments, with the natural gas distribution segment also showing stability. Strategically, Eversource Energy continued to invest heavily in its infrastructure, with capital expenditures totaling $1.7 billion in 2015, primarily directed towards modernizing its electric and natural gas distribution and transmission systems. The company also provided a positive outlook, projecting significant capital expenditures of approximately $9.2 billion from 2016 through 2019. Furthermore, Eversource Energy demonstrated its commitment to shareholders by increasing its common share dividend by 6.6% for 2016, reflecting confidence in its financial health and future growth prospects.

Financial Highlights

48 data points
Beta

Revenue

$7.95B

Net Income

$886.00M

11.1% Net Margin

EPS (Diluted)

$2.76

Total Assets

$30.58B

Cash & Equivalents

$23.95M

Free Cash Flow

-$290.39M

Financial Statements
Beta
Revenue$7.95B
Operating Expenses$6.19B
Operating Income$1.76B
Interest Expense$372.42M
Net Income$886.00M
EPS (Basic)$2.77
EPS (Diluted)$2.76
Shares Outstanding (Basic)317.34M
Shares Outstanding (Diluted)318.43M

Key Highlights

  • 1Net income attributable to common shareholders increased to $878.5 million, or $2.76 per diluted share, up from $819.5 million, or $2.58 per diluted share, in 2014.
  • 2Total capital expenditures for 2015 were $1.7 billion, with projected capital expenditures of $9.2 billion from 2016 through 2019, focusing on electric and natural gas distribution and transmission infrastructure.
  • 3The company's electric distribution segment earned $507.9 million ($1.59 per share) in 2015, while the electric transmission segment earned $304.5 million ($0.96 per share).
  • 4Eversource Energy's Board of Trustees approved a common share dividend payment of $0.445 per share for the first quarter of 2016, representing a 6.6% increase over the prior year's dividend.
  • 5Cash flows from operating activities totaled $1.4 billion in 2015, supporting significant investments in property, plant, and equipment.
  • 6The company's credit ratings were upgraded by Moody's, S&P, and Fitch during 2015, reflecting its strong financial position.
  • 7Eversource Energy completed its annual goodwill impairment test and concluded that no goodwill impairment existed.

Frequently Asked Questions

Eversource Energy reported strong financial performance in 2015. Net income attributable to common shareholders was $878.5 million, or $2.76 per diluted share, an increase from $819.5 million, or $2.58 per diluted share, in 2014. This growth was driven by solid contributions from its electric distribution and transmission segments.

Eversource Energy made significant investments in its infrastructure in 2015, with capital expenditures totaling $1.7 billion. Looking ahead, the company projects capital expenditures of approximately $9.2 billion from 2016 through 2019, with a primary focus on enhancing its electric and natural gas distribution and transmission networks.

Eversource Energy demonstrated its commitment to shareholder value by increasing its common share dividend by 6.6% for the first quarter of 2016. The company also saw positive stock performance, with its total shareholder return outperforming the EEI Index over the five-year period.

Eversource Energy provided a positive outlook for 2016, projecting earnings between $2.90 and $3.05 per diluted share. This guidance reflects confidence in the company's continued operational and financial performance.