Eversource Energy (ES) 10-K Summary — Year Ended Dec 31, 2023
Eversource Energy filed its annual report showing a decline in revenue and a net loss for the period. The company's operating cash flow remained positive but was less than the prior year's operating income.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Eversource Energy filed its annual report showing a decline in revenue and a net loss for the period. The company's operating cash flow remained positive but was less than the prior year's operating income.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$11.9B
Revenue reported for the fiscal year.
Operating income
$2.4B
Income from operations reported for the year.
Net income
-$434.7M
Net income reported for the year.
Operating cash flow
$1.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $9.9B | n/a |
| Dec 31, 2022 | $12.3B | +24.6% |
| Dec 31, 2023 | $11.9B | -3.1% |
Business overview
Eversource Energy is a public utility holding company that operates through regulated electric, gas, and water distribution businesses. The company serves customers in Connecticut, Massachusetts, and New Hampshire, with core operations focused on transmission and distribution of electricity and natural gas.
Financial performance
Revenue decreased compared to the prior year, while operating income was positive but lower than the previous period. The company reported a net loss for the year, and operating cash flow was positive.
Material risks
The filing identifies risk factors related to regulatory proceedings, rate-setting mechanisms, and potential adverse judicial or legislative outcomes. Operational risks include the company's reliance on timely cost recovery and the financial impact of severe weather events.
Liquidity and capital
The company discusses liquidity and capital resources in the management discussion, mentioning ongoing business development and capital expenditure plans. No explicit capital allocation policy or dividend changes are described in the supplied context.
What to watch
Readers should monitor the outcome of regulatory rate-case decisions, which affect the company's ability to recover costs and earn its allowed return.