Exhibit 99.1


[newsrelease001.jpg]



800 Boylston St., Boston, Massachusetts 02199

     

56 Prospect St., Hartford, Connecticut 06103-2818


News Release



Eversource Energy Reports Second Quarter 2017 Results


(HARTFORD, Conn. and BOSTON, Mass. July 27, 2017)  Eversource Energy (NYSE: ES) today reported earnings of $230.7 million, or $0.72 per share, in the second quarter of 2017, compared with earnings of $203.6 million, or $0.64 per share, in the second quarter of 2016.  In the first half of 2017, Eversource Energy earned $490.2 million, or $1.54 per share, compared with earnings of $447.8 million, or $1.41 per share, in the first half of 2016.  


We experienced a very solid first half of 2017, delivering efficient, effective and reliable service to our 3.7 million customers and continuing to invest in New Englands clean energy future, said Jim Judge, Eversource chairman, president and chief executive officer.  We continue to project 2017 earnings of $3.05 to $3.20 per share, a level that is consistent with our 5-7 percent long-term EPS growth rate.


Electric Transmission


Eversource Energys transmission segment earned $96.4 million in the second quarter of 2017 and $190.6 million in the first half of 2017, compared with earnings of $92.5 million in the second quarter of 2016 and $178.2 million in the first half of 2016.  The improved results were primarily due to an increased level of investment in Eversource Energys transmission system, partially offset by a lower level of revenue in 2017 related to annual reconciliations under Eversources transmission tariffs.


Electric Distribution and Generation


Eversource Energys electric distribution and generation segment earned $121.9 million in the second quarter of 2017 and $236 million in the first half of 2017, compared with earnings of $102.8 million in the second quarter of 2016 and $211.3 million in the first half of 2016.  The improved year-to-date results primarily reflect lower operation and maintenance expense and higher distribution revenues, partially offset by higher depreciation expense.







Natural Gas Distribution


Eversource Energys natural gas distribution segment earned $4.5 million in the second quarter of 2017 and $55.3 million in the first half of 2017, compared with earnings of $8 million in the second quarter of 2016 and $58.9 million in the first half of 2016.  Lower second quarter results were due primarily to lower sales due to milder early spring temperatures in 2017, as well as higher depreciation and operation and maintenance expense.


Parent and Other Companies


Eversource Energy parent and other companies earned $7.9 million in the second quarter of 2017 and $8.3 million in the first half of 2017, compared with earnings $0.3 million in the second quarter of 2016 and a net loss of $0.6 million in the first half of 2016.  Improved results were due largely to second-quarter 2017 gains related to Eversource Energys long-time investment in a fund holding certain renewable energy facilities.  That investment historically has had little impact on results.


The following table reconciles 2017 and 2016 second quarter and first six months earnings per share:




Second Quarter

First Six Months

2016

Reported EPS

$0.64

$1.41


Higher transmission earnings in 2017

0.01

0.04


Higher retail electric revenues in 2017

0.02

0.04


Lower natural gas revenues in 2017

(0.01)

--


Lower non-tracked O&M in 2017

0.04

0.04


Higher property tax, depreciation, and

interest expense in 2017

(0.02)

(0.04)


All other, net, including higher Other Income

0.04

0.05

2017

Reported EPS

$0.72

$1.54

Financial results for the second quarter and first half of 2017 and 2016 are noted below:


Three months ended:

(in millions, except EPS)

June 30, 2017

June 30, 2016

Increase/

(Decrease)

2017 EPS1

Electric Distribution/Generation

$121.9

$102.8

$19.1

$0.38

Natural Gas Distribution

4.5

8.0

(3.5)

0.01

Electric Transmission

96.4

92.5

3.9

0.30

Eversource Parent and Other Companies

7.9

0.3

7.6

0.03

Reported Earnings

$230.7

$203.6

$27.1

$0.72



Six months ended:

(in millions, except EPS)

June 30, 2017

June 30, 2016

Increase/

(Decrease)

2017 EPS1

Electric Distribution/Generation

$236.0

$211.3

$24.7

$0.74

Natural Gas Distribution

55.3

58.9

(3.6)

0.17

Electric Transmission

190.6

178.2

12.4

0.60

Eversource Parent and Other Companies

8.3

(0.6)

8.9

0.03

Reported Earnings

$490.2

$447.8

$42.4

$1.54







Retail sales data:

 

Three months ended:

June 30, 2017

June 30, 2016

% Change

Electric Distribution (Gwh)



 

Traditional

6,524

6,605

(1.2%)

Decoupled

5,640

5,798

(2.7%)

Total Electric Distribution

12,164

12,403

(1.9%)

 




Natural Gas Distribution (mmcf)




Traditional

7,778

8,315

(6.5%)

Decoupled and Special Contracts

9,238

9,521

(3.0%)

Total Natural Gas Distribution

17,016

17,836

(4.6%)


 

Six months ended:

June 30, 2017

June 30, 2016

% Change

Electric Distribution (Gwh)




Traditional

13,495

13,601

(0.8%)

Decoupled

11,840

12,022

(1.5%)

Total Electric Distribution

25,335

25,623

(1.1%)

 




Natural Gas Distribution (mmcf)




Traditional

26,683

26,300

1.5%

Decoupled and Special Contracts

31,479

30,884

1.9%

Total Natural Gas Distribution

58,162

57,184

1.7%



Eversource Energy has approximately 317 million common shares outstanding.  It operates New Englands largest energy delivery system, serving approximately 3.7 million customers in Connecticut, Massachusetts and New Hampshire.  Eversource is recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres.



CONTACT:

Jeffrey R. Kotkin

(860) 665-5154



Note:  Eversource Energy will webcast a conference call with senior management on July 28, 2017, beginning at 9 a.m. Eastern Time.  The webcast and associated slides can be accessed through Eversources website at www.eversource.com.






1 All per share amounts in this news release are reported on a diluted basis.  The only common equity securities that are publicly traded are common shares of Eversource Energy.  The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities allocated to such business, but rather represent a direct interest in Eversource Energy's assets and liabilities as a whole.  EPS by business is a non-GAAP (not determined using generally accepted accounting principles) measure that is calculated by dividing the net income or loss attributable to controlling interests of each business by the weighted average diluted Eversource Energy common shares outstanding for the period.  Management uses this non-GAAP financial measure to evaluate earnings results, provide details of earnings results by business, and more fully compare and explain our second quarter and first half 2017 and 2016 results.  Management believes that this measurement is useful to investors to evaluate the actual and projected financial performance and contribution of Eversource Energys businesses.  Non-GAAP financial measures should not be considered as alternatives to Eversource consolidated net income attributable to controlling interests or EPS determined in accordance with GAAP as indicators of Eversource Energys operating performance.


This news release includes statements concerning Eversource Energys expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts.  These statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  In some cases, readers can identify these forward-looking statements through the use of words or phrases such as estimate, expect, anticipate, intend, plan, project, believe, forecast, should, could and other similar expressions.  Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements.  Factors that may cause actual results to differ materially from those included in the forward-looking statements include, but are not limited to, cyber breaches, acts of war or terrorism, or grid disturbances;  actions or inaction of local, state and federal regulatory, public policy and taxing bodies; changes in business conditions, which could include disruptive technology related to Eversources current or future business model; changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability; fluctuations in weather patterns; changes in laws, regulations or regulatory policy; changes in levels or timing of capital expenditures; disruptions in the capital markets or other events that make Eversources access to necessary capital more difficult or costly; developments in legal or public policy doctrines; technological developments; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors.  


Other risk factors are detailed in Eversources reports filed with the Securities and Exchange Commission (SEC) and updated as necessary, and are available on Eversource Energys website at www.eversource.com and the SECs website at www.sec.gov.  All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energys actual results many of which are beyond our control.  You should not place undue reliance on the forward-looking statements; each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.




###








View differences made from one to another to evaluate Nstar Electric Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 8-K Corporate News to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Nstar Electric Co.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account