Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Q3 2024 Earnings Presentation
15 slides from Eversource Energy (d/b/a)'s earnings presentation, Nov 5, 2024
Slide 1: Eversource Energy Q3 2024 Earnings Report
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT NOVEMBER 5, 2024 CUSTOMER COMMUNITY EMPLOYEE FINANCIAL CLEAN ENERGY RELIABILITY
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings discussion includes financial measures that are
Slide 3: Agenda
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Business Update Key Strategic Priorities Electric Transmission and Distribution Investment Growth Massachusetts Clean Energy Transition Joe Nolan Agenda Chairman, President & CEO Financial Update Q3 2024 Financial Results Regulatory Update Financ
Slide 4: Progressing Towards Our Key Strategic Priorities
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Progressing Towards Our Key Strategic Priorities Fully Regulated Business Completed the exit of the offshore wind business in Q3 2024, transitioning Eversource Model to a 100% regulated utility 5-Year Capital Executing on a robust capital plan increased to $
Slide 5: Clean Energy Transition
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Clean Energy Transition Electric Transmission Dept. Of Energy funding secured for Clean Energy Hub in Southeastern Connecticut Enable renewable resources to connect to the electric grid Electric Distribution Electric Distribution Sector Modernization P
Slide 6: Key Massachusetts Carbon Reducing Priorities
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Key Massachusetts Carbon Reducing Priorities Electric Sector Advanced Meter Battery Project Modernization Plan Infrastructure Expansion of Cape Cod (ESMP) (AMI) Battery Energy Storage System Received DPU approval Project on track – meter August 2024 in
Slide 7: Greater Cambridge Energy Program – A Unique Solution for Load Demand & Reliability
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Greater Cambridge Energy Program – A Unique Solution for Load Demand & Reliability Received approval from the Massachusetts Energy Facilities Siting Board Addresses load growth for the greater Cambridge area Supports the decarbonization and electrifica
Slide 8: Third Quarter and Nine Months 2024 Financial Results
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Third Quarter and Nine Months 2024 Financial Results 3Q 2024 3Q 2023 Change 9M 2024 9M 2023 Change Electric Transmission $0.49 $0.46 $0.03 $1.52 $1.36 $0.16 Electric Distribution 0.57 0.50 0.07 1.47 1.44 0.03 Natural Gas Distribution (0.09) (0.10) 0.01 0.53
Slide 9: Regulatory Update
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Regulatory Update Massachusetts 5-Year Electric Sector Modernization Plan – Approved by MA DPU on August 29, 2024 EGMA Rate Base Reset for Rates Effective November 1, 2024 – Approved October 31, 2024 NSTAR Gas PBR adjustment for Rates Effective Novembe
Slide 10: FFO to Debt Enhancement Strategy
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT FFO to Debt Enhancement Strategy FFO TO DEBT WALK MAJOR DRIVERS Highlighted Cash Flow 2024-2025 Enhancements through 2025 FFO/Debt 2023 Under Recoveries 14%-15%~$600 + 3% to 4% 14% to 15% at S&P South Fork Wind Tax Equity Investment $500 Incremental Storm Co
Slide 11: 2024 & 2025 Parent Debt and Equity Issuances and Maturities
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT 2024 & 2025 Parent Debt and Equity Issuances and Maturities 2024 Debt Issuances 2024 Equity Issuances Company Size/Coupon Maturity Parent $350M @ 5.00% Jan 1, 2027 Parent $650M @ 5.50% Jan 1, 2034 New Shares Parent $700M @ 5.85% Apr 15, 2031 An additional
Slide 12: Proven Track Record of Earnings and Dividend Performance
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Proven Track Record of Earnings and Dividend Performance $4.52 $4.34 -$4.60 $4.09 $3.86 $3.64 $3.45 $3.11 $3.25 $2.81 $2.96 $2.65 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023A* 2024E* 2025E 2026E 2027E 2028E * Reflects non-GAAP results, e
Slide 13: Appendix
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT APPENDIX 12
Slide 14: Projected Capital Expenditures for Core Businesses
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT Projected Capital Expenditures for Core Businesses $23.1 Billion 2024-2028* $5,000 $4,647 $4,687 $4,697 $4,593 $4,601 $223 $202 $4,485 $4,500 $213 $225 $234 $162 $169 $218 $234 $239 $204 $251 $4,000 $3,786 * Including ESMP $3,541 $266 $1,044 $1,142 $1,089 $9
Slide 15: State GHG Reduction Goals Drive Electric Demand
EVERSOURCE ENERGY Q3 2024 EARNINGS REPORT State GHG Reduction Goals Drive Electric Demand Electrification plans result in New England electric demand more than doubling by 2050 New England winter peak demand is expected to more than triple by 2050 GHG Reduction Goals New England Carbon Emissions by
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