This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NU Reports Year-End 2012 Results

Electric Transmission

NU’s transmission segment earned $249.7 million for the full year of 2012 and $68.6 million in the fourth quarter of 2012, compared with earnings of $199.6 million for the full year of 2011 and $71.2 million in the fourth quarter of 2011. The earnings improvement for the full year primarily represents continued investment in NU’s transmission system, including the $718 million Greater Springfield Reliability Project (GSRP), as well as the addition of NSTAR Electric Company transmission results as of April 2012. Lower fourth quarter results primarily reflect a higher effective tax rate in 2012 than in 2011.

Electric Distribution and Generation

NU’s electric distribution and generation segment earned $343.4 million for the full year of 2012, excluding merger and related settlement costs, compared with $207 million for the full year of 2011, excluding a $17.9 million after-tax storm fund reserve at The Connecticut Light and Power Company (CL&P). In the fourth quarter of 2012, the electric distribution and generation segment earned $80.3 million, compared with earnings of $54.2 million in the fourth quarter of 2011. Fourth quarter 2011 results exclude the aforementioned CL&P storm reserve.

The distribution and generation segment results benefited in the fourth quarter and full-year 2012 from the addition of NSTAR Electric distribution results, effective in April 2012.

Earnings of Electric Utility Subsidiaries (net of preferred dividends)

CL&P earned $242.6 million for the full year of 2012, excluding $38.4 million of after-tax merger and related settlement costs, and $72.5 million in the fourth quarter of 2012. It earned $262.5 million for the full year of 2011 and $83.1 million in the fourth quarter of 2011, excluding the $17.9 million storm fund reserve. Lower results reflect a higher effective tax rate and higher pension, tree trimming and system maintenance costs, partially offset by a higher transmission rate base.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs