Eversource Energy ES reported first-quarter 2016 operating earnings of 77 cents per share, short of the Zacks Consensus Estimate by a penny and 3.8% lower than the year-ago figure. Total Revenues Also, Eversource Energy’s first-quarter revenues of $2,055.6 million lagged the Zacks Consensus Estimate of $2,504 million by 17.9% and declined 18.2% from the year-ago level of $2,513.4 million. Results impacted by lower sales as a result of mild weather. Highlights of the Release Operating expenses decreased nearly 22.3% year over year to $1567.1 million, primarily due to lower purchased power, and fuel and transmission expenses. Operating income dipped 2% to $488.5 million from $497.5 million a year ago. In the reported quarter, interest expense stood at $98.2 million, up 3.6% from the year-ago level. Segmental Performance Electric Distribution and Generation: Segment earnings tanked 17% to $108.4 million primarily due to lower distribution revenues, which resulted from mild weather. Electric Transmission: Segment earnings surged 28.7% to $85.7 million on the back of a higher level of investment in transmission facilities. Natural Gas Distribution: The segment reported earnings of $50.9 million, down 8.5% from the year-ago tally of $55.6 million. Parent & Other Companies: The segment reported a loss of $0.8 million. In the year-ago period, it has recorded earnings of $0.5 million. Financial Update Cash and cash equivalents were $51 million as of Mar 31, 2016, up from $23.9 million as of Dec 31, 2015. Long-term debt was $9,144.7 million as of Mar 31, 2016, up from $8,805.6 million as of Dec 31, 2015. Cash flow from operating activities was $500 million, marginally up from $491.5 million in the year-ago comparable period. Peer Releases Pinnacle West Capital Corp. PNW reported adjusted earnings per share of 4 cents in the first quarter of 2016, lagging the Zacks Consensus Estimate of 13 cents by 69.2%. WEC Energy Group WEC reported first-quarter 2016 adjusted earnings of $1.09 per share, beating the Zacks Consensus Estimate of $1.02. Alliant Energy Corp. LNT reported first-quarter 2016 operating earnings from continuing operation, in line with the Zacks Consensus Estimate of 86 cents. Zacks Rank Currently, Eversource Energy carries a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WEC ENERGY GRP (WEC): Free Stock Analysis Report PINNACLE WEST (PNW): Free Stock Analysis Report ALLIANT ENGY CP (LNT): Free Stock Analysis Report EVERSOURCE EGY (ES): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research