Higher operating revenue and gains in its electric and natural gas segments drove Eversource’s first-quarter profits up by 14.5 percent, the utility parent reported Wednesday.
Net income for the quarter ended March 31 was $308.7 million, or 97 cents per diluted share, up from $269.5 million, or 85 cents, a year ago.
Operating revenue grew 5.6 percent, from $2.29 billion to $2.42 billion.
Contributing to the higher earnings per share compared to the first quarter of 2018, the natural gas segment added the most, 6 cents, followed closely by electric distribution and electric transmission, at 5 cents and 3 cents, respectively.
Eversource reaffirmed its full-year earnings per share guidance at a range of $3.40 to $3.50.
In a statement CEO Jim Judge called the results “a tremendous start” to the year.
The company’s stock price opened Thursday at $72.16, up from $71.14 at Wednesday’s close.
In 2018, Eversource’s profits topped $1 billion.
