NiSource (NI) Tops Q4 EPS by 1c; Offers FY18 EPS Mid-Point Outlook Above Consensus

NiSource (NYSE: NI) reported Q4 EPS of $0.33, $0.01 better than the analyst estimate of $0.32. ar.

• For the three months ended December 31, 2017, NiSource reported a loss from continuing operations (GAAP) of $52.4 million, or $0.16 per share, compared to income from continuing operations of $88.8 million, or $0.28 per share, for the same period of 2016.
• On a non-GAAP basis, net operating earnings were $110.3 million, or $0.33 per share, compared to $107.6 million, or $0.33 per share, for the same period in 2016.

2018 Guidance, Growth, Capital Forecasts Reaffirmed Following Federal Tax Reform

As noted in its December 21, 2017 news release, NiSource believes the comprehensive federal tax reform signed into law will lower costs for customers and supports continued investment in critical utility infrastructure that benefits our customers and communities.

Based upon the expected regulatory implementation of the law\'s provisions, NiSource continues to expect to deliver non-GAAP net operating earnings of $1.26 to $1.32 per share in 2018, and make capital investments of $1.7 to $1.8 billion.

The company also expects to grow its net operating earnings per share (non-GAAP) and dividend by 5 to 7 percent each year through 2020. On January 26, 2018 the company increased its dividend to an annualized 78 cents per share, up from 70 cents per share in 2017. NiSource continues to expect to invest $1.6 to $1.8 billion annually in its utility infrastructure programs through 2020, and remains committed to maintaining investment grade credit ratings. As of December 31, 2017, NiSource had approximately $1 billion in net available liquidity, consisting of cash and available capacity under its credit facility and accounts receivable securitizations.

NiSource reminds investors that it does not provide a GAAP equivalent of its earnings guidance due to the impact of unpredictable factors such as fluctuations in weather, asset sales and impairments, and other items included in GAAP results.

"We're confident in our ability to meet our commitments to our customers and the financial community while also managing through changes which will result from tax reform," Hamrock said.

GUIDANCE:

NiSource sees FY2018 EPS of $1.26-$1.32, versus the consensus of $1.28.

For earnings history and earnings-related data on NiSource (NI) click here.

You May Also Be Interested In

• Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
• Portland General Electric (POR) Tops Q1 EPS by 6c
• Barnes Group (B) Tops Q1 EPS by 2c; Raises guidance