NSTAR announced its Q3 financial earnings, which dropped to $76.7 million in 2006, compared to $78 million reported in the same quarter last year.
The company reported that despite a stong start in the quarter, electric sales dropped 3.3 percent, due largely to mild weather conditions in August and September. The company noted that there was an 11 percent decrese in cooling degree days. Outlook for the remainder of the year calls for earnings per share to fall in the range of $1.90 to $1.96, assuming normal weather patterns. In Q3, NSTAR reported earnings of $1.92 per common share for the twelve-month period ended Sept. 30, rising from $1.82 per share for the twelve months ended in September of ’05.
NSTAR hosted in Q3 conference call this morning, and a webcast is available at www.nstaronline.com under the Calendar of Events section in the Investor Relations area of the site.
