NiSource (NI) Tops Q3 EPS by 6c

NiSource (NYSE: NI) reported Q3 EPS of $0.09, $0.06 better than the analyst estimate of $0.03.

"NiSource continues to execute its plan to deliver premium value from our 100 percent regulated electric and gas utility platform," said NiSource President and CEO Joe Hamrock. "Our teams are focused on continued execution of our safety and asset modernization programs and our transition to renewable generation. These investments are expected to drive compound annual growth of 7 to 9 percent in net operating earnings per share from 2021 through 2024 while reducing greenhouse gas emissions 90 percent by 2030. Sustaining this level of execution while maintaining safe, reliable energy service through the COVID-19 pandemic is a testament to the thousands of dedicated employees throughout NiSource.

"With the announcement of additional solar and storage energy projects in Indiana and the closing of the sale of Columbia Gas of Massachusetts last month, we have strengthened our foundation for future growth," Hamrock concluded.

2020 Capital, 2021 NOEPS Guidance Reaffirmed; Long-term Capital and Growth Forecasts through 2024 Also Reaffirmed

NiSource is reaffirming its 2020 capital investment forecast of $1.7 to $1.8 billion, and its 2021 non-GAAP net operating earnings guidance in the range of $1.28 to $1.36 per share. As outlined at its Investor Day on September 29, 2020, the company continues to expect to grow its net operating earnings per share by 7 to 9% on a compound annual growth rate basis from 2021 through 2024, including near-term annual growth of 5 to 7% through 2023. NiSource expects to make growth, safety and modernization investments of $1.9 to $2.2 billion annually during the period, as well as a total of $1.8 to $2.0 billion of investments in renewable generation assets.

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

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