Eversource Energy’s third-quarter profits edged up slightly, reflecting overall steady growth, despite losses in its natural gas business, the utility reported Wednesday.
The company’s net income for the third quarter totaled $265.3 million, or 83 cents per share, compared with the $235.9 million, or 74 cents per share, posted during the same period a year ago.
The gains came despite the utility’s natural gas distribution segment posting a loss of $7 million in the third quarter of 2016, compared with a loss of $3.5 million in the third quarter of 2015.
Jim Judge, Eversource president and chief executive officer, attributed the successful quarter to service reliability, “despite the challenge of a hot summer and increased storm activity.”
He said the utility’s earnings are on track to achieve full-year guidance of $2.90 to $3.05 per share. Long-term, an earnings and dividend growth rate of 5 percent to 7 percent appears realistic, he said.
