Northeast Utilities earned $209.5 million in the third quarter, only a modest increase from the Hartford and Boston company’s earnings of $207.6 million in the third quarter 2012.
This is the first full quarter-over-quarter comparison of NU’s earnings that includes the results NStar, which merged with NU on April 10, 2012.
The third quarter earnings equated to 66 cents per share, the same earnings per share as the third quarter 2012.
Based on the earnings so far this year totaling $608.6 million, NU affirmed its 2013 guidance of $2.45 to $2.60 per share.
NU subsidiary Connecticut Light & Power earned $64.9 million in the third quarter, and drop from $73.5 million in the third quarter 2012. The decrease was largely due to falling transmission revenues.
NU’s natural gas subsidiary, which includes Yankee Gas of Berlin and NStar Gas of Boston, lost $10.4 million in the third quarter, compared to a loss of $4.4 million in the third quarter 2012. The greater loss was due to higher property tax and depreciation expense at NStar Gas.
