U.S. Markets closed

Eversource misses 4Q profit forecasts

SPRINGFIELD, Mass. (AP) _ Eversource Energy (ES) on Tuesday reported fourth-quarter net income of $229.2 million.

On a per-share basis, the Springfield, Massachusetts-based company said it had net income of 72 cents.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The New England power provider posted revenue of $1.78 billion in the period.

For the year, the company reported profit of $942.3 million, or $2.96 per share. Revenue was reported as $7.64 billion.

Eversource expects full-year earnings in the range of $3.05 to $3.20 per share.

Eversource shares have increased roughly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $56.84, a rise of slightly more than 4 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ES at https://www.zacks.com/ap/ES


Keywords: Eversource Energy, Earnings Report