Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
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Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 2
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 encourage you to review these items.

Financial Condition and Business Analysis

Executive Summary

Eversource Energy is a public utility holding company primarily engaged, through its wholly-owned regulated utility subsidiaries, in the energy delivery business.  Eversource Energy's wholly-owned regulated utility subsidiaries consist of CL&P, NSTAR Electric and PSNH (electric utilities), Yankee Gas, NSTAR Gas and EGMA (natural gas utilities) and Aquarion (water utilities).  Eversource is organized into the electric distribution, electric transmission, natural gas distribution, and water distribution reportable segments. 

The following items in this executive summary are explained in more detail in this combined Quarterly Report on Form 10-Q:

Earnings Overview and Future Outlook: 

•We earned $550.8 million, or $1.50 per share, in the first quarter of 2025, compared with $521.8 million, or $1.49 per share, in the first quarter of 2024.  

•We reaffirmed our projection to earn within a 2025 earnings guidance range of between $4.67 per share and $4.82 per share.  We also reaffirmed our projection that our long-term EPS growth rate through 2029 will be in a 5 to 7 percent range, using 2024 non-GAAP EPS of $4.57 per share as the base year. 

Liquidity:

•Cash flows provided by operating activities totaled $1.04 billion in the first quarter of 2025, compared with $291.3 million in the first quarter of 2024.  Investments in property, plant and equipment totaled $1.01 billion in the first quarter of 2025, compared with $1.15 billion in the first quarter of 2024.  

•Cash and Cash Equivalents totaled $111.4 million as of March 31, 2025, compared with $26.7 million as of December 31, 2024.  Our available borrowing capacity under our commercial paper programs totaled $1.16 billion as of March 31, 2025.  

•In the first quarter of 2025, we issued $1.20 billion of new long-term debt and we repaid $300 million of long-term debt.

•On May 1, 2025, our Board of Trustees approved a common share dividend payment of $0.7525 per share, payable on June 30, 2025 to shareholders