S&P 500 component Northeast Utilities Systems reported its results for the fourth quarter. Northeast Utilities is a public utility holding company that delivers energy through its subsidiaries.
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Northeast Utilities Systems Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Northeast Utilities Systems fell to $113.3 million (64 cents per share) vs. $129.3 million (73 cents per share) a year earlier. This is a decline of 12.4% from the year-earlier quarter.
Revenue: Fell 11.3% to $1.07 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Northeast Utilities Systems reported adjusted net income of 74 cents per share. By that measure, the company beat the mean estimate of 69 cents per share. It fell short of the average revenue estimate of $1.34 billion.
Key Stats:
Revenue has fallen in the past four quarters. Revenue declined 10.3% to $1.11 billion in the third quarter. The figure fell 5.8% in the second quarter from the year earlier and dropped 7.8% in the first quarter from the year-ago quarter.
The company’s net income has fallen for two quarters in a row. In the third quarter, net income fell 10.5% from the year-earlier quarter.
The company beat estimates last quarter after falling short in the previous two quarters. In the third quarter, it missed the mark by 4 cents, and in the second quarter, it came in under estimates by 4 cents.
Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the first quarter of the next fiscal year has reached 74 cents per share, up from 73 cents. For the fiscal year, the average estimate has been unchanged at $2.33 a share.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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