10-QPeriod: Q1 FY2005

EVERSOURCE ENERGY Quarterly Report for Q1 Ended Mar 31, 2005

Filed May 9, 2005For Securities:ES

Summary

Eversource Energy (formerly Northeast Utilities and Subsidiaries) filed its 10-Q for the period ending March 31, 2005, presenting its financial performance for the first quarter. The filing includes consolidated financial statements for Northeast Utilities and its key operating subsidiaries: The Connecticut Light and Power Company, Public Service Company of New Hampshire, and Western Massachusetts Electric Company. Investors should note that the Statements of Cash Flows for Northeast Utilities and Subsidiaries were restated for the three months ended March 31, 2005. The report provides a look into the company's financial health through its balance sheets, income statements, and cash flow statements, alongside Management's Discussion and Analysis (MD&A) detailing operational performance and financial condition. Key areas of focus for investors would be the "Results of Operations" within the MD&A, which explains the "Income Statement" movements, and "Financial Condition," which discusses the "Balance Sheet" changes and "Liquidity and Capital Resources." The company also discloses information on market risks and legal proceedings, offering a comprehensive view of potential financial exposures. The unaudited nature of these statements means they are subject to normal recurring adjustments, but they provide a snapshot of the company's performance and financial standing at the close of the first quarter of 2005.

Key Highlights

  • 1The filing encompasses the first quarter financial results for the period ending March 31, 2005, for Eversource Energy (then Northeast Utilities) and its principal operating subsidiaries.
  • 2Consolidated financial statements (Balance Sheets, Statements of Income, and Statements of Cash Flows) are provided for Northeast Utilities and its major subsidiaries: CL&P, PSNH, and WMECO.
  • 3A notable disclosure is the restatement of the Condensed Consolidated Statements of Cash Flows for Northeast Utilities and Subsidiaries for the three months ended March 31, 2005.
  • 4Management's Discussion and Analysis (MD&A) is included, offering insights into the company's financial condition, results of operations, liquidity, and capital resources.
  • 5The report details quantitative and qualitative disclosures about market risk, providing investors with information on how the company manages financial risks.
  • 6Part II of the filing addresses other important information, including any significant legal proceedings that could impact the company's financial standing.

Frequently Asked Questions

This 10-Q filing provides investors with the unaudited financial results and operational updates for Eversource Energy (then Northeast Utilities) and its subsidiaries for the first quarter of 2005, covering the period ending March 31, 2005. It includes key financial statements and management's analysis of the company's performance and financial health.

The filing indicates that the Condensed Consolidated Statements of Cash Flows for Northeast Utilities and Subsidiaries for the three months ended March 31, 2005, were restated. While the specific reasons for the restatement are not detailed in the provided excerpt, restatements typically occur to correct prior period errors or to comply with changes in accounting standards, and are important for understanding the accurate flow of cash.

Investors can find detailed explanations of the company's performance drivers and financial condition within Item 2, 'Management's Discussion and Analysis of Financial Condition and Results of Operations.' This section provides narrative insights into the income statement and balance sheet movements, as well as discussions on liquidity and capital resources.

No, the financial statements presented in this 10-Q filing are marked as 'unaudited.' This is typical for quarterly reports. While they are subject to normal recurring adjustments, they provide an interim look at the company's financial position and performance.