We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NiSource (NI) Q2 Earnings Top but Revenues Lag, Trims View
Read MoreHide Full Article
NiSource Inc. (NI - Free Report) reported second-quarter 2016 operating earnings of 8 cents per share, surpassing the Zacks Consensus Estimate of 7 cents by 14.3%.
The company reported GAAP earnings of 9 cents per share. In the year-ago period, it had incurred a loss of 23 cents per share on a GAAP basis.
The difference between GAAP and operating earnings was due to the impact of a penny related to one-time non-recurring items.
Revenues
In the second quarter of 2016, NiSource's gross revenues of $893 million lagged the Zacks Consensus Estimate of $928 million by 3.8%.
However, revenues were up from $891.4 million reported in the prior-year quarter.
Quarterly Highlights
NiSource's Gas Distribution sales increased 5.4% year over year to 193 million dekatherms (MMDth). Electric Operation sales grew 2.1% to 4,061 gigawatt hours.
Total operating expenses were $523.8 million, down 2.8%, primarily due to lower operation and maintenance expenses, and other taxes.
Interest expenses were $86 million, down 12.4% from the year-ago figure of $98.2 million.
As of Jun 30, 2016, NiSource's cash and cash equivalents were $15.7 million, compared with $15.5 million as of Dec 31, 2015.
In the first six months of 2016, net cash from operating activities (continuing operation) was $487.1 million, compared with $1,115.5 million in the year-ago period.
NiSource's capital expenditure in the first six months of 2016 was $672.5 million, up 21.2% from $554.7 million in the year-ago period.
Guidance
NiSource narrowed its 2016 earnings guidance of $1.00 to $1.10 per share to therange of $1.05 to $1.10.The company projects long-term annual earnings and dividend growth of 4–6%.
Management expects to invest nearly $1.5 billion in 2016 to strengthen and modernize existing infrastructure in all seven states of operation.
Upcoming Peer Releases
Spark Energy, Inc. is scheduled to report second-quarter 2016 results on Aug 11 before the market opens. The Zacks Consensus Estimate stands at 29 cents.
Avista Corp. (AVA - Free Report) is scheduled to report second-quarter 2016 results on Aug 3 before the market opens. The Zacks Consensus Estimate stands at 43 cents.
CenterPoint Energy, Inc. (CNP - Free Report) is scheduled to report second-quarter 2016 results on Aug 5 before the market opens. The Zacks Consensus Estimate stands at 20 cents.
Zacks Rank
NiSource currently has 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 >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
NiSource (NI) Q2 Earnings Top but Revenues Lag, Trims View
NiSource Inc. (NI - Free Report) reported second-quarter 2016 operating earnings of 8 cents per share, surpassing the Zacks Consensus Estimate of 7 cents by 14.3%.
The company reported GAAP earnings of 9 cents per share. In the year-ago period, it had incurred a loss of 23 cents per share on a GAAP basis.
The difference between GAAP and operating earnings was due to the impact of a penny related to one-time non-recurring items.
Revenues
In the second quarter of 2016, NiSource's gross revenues of $893 million lagged the Zacks Consensus Estimate of $928 million by 3.8%.
However, revenues were up from $891.4 million reported in the prior-year quarter.
Quarterly Highlights
NiSource's Gas Distribution sales increased 5.4% year over year to 193 million dekatherms (MMDth). Electric Operation sales grew 2.1% to 4,061 gigawatt hours.
Total operating expenses were $523.8 million, down 2.8%, primarily due to lower operation and maintenance expenses, and other taxes.
Interest expenses were $86 million, down 12.4% from the year-ago figure of $98.2 million.
NISOURCE INC Price, Consensus and EPS Surprise
NISOURCE INC Price, Consensus and EPS Surprise | NISOURCE INC Quote
Financial Position
As of Jun 30, 2016, NiSource's cash and cash equivalents were $15.7 million, compared with $15.5 million as of Dec 31, 2015.
In the first six months of 2016, net cash from operating activities (continuing operation) was $487.1 million, compared with $1,115.5 million in the year-ago period.
NiSource's capital expenditure in the first six months of 2016 was $672.5 million, up 21.2% from $554.7 million in the year-ago period.
Guidance
NiSource narrowed its 2016 earnings guidance of $1.00 to $1.10 per share to therange of $1.05 to $1.10.The company projects long-term annual earnings and dividend growth of 4–6%.
Management expects to invest nearly $1.5 billion in 2016 to strengthen and modernize existing infrastructure in all seven states of operation.
Upcoming Peer Releases
Spark Energy, Inc. is scheduled to report second-quarter 2016 results on Aug 11 before the market opens. The Zacks Consensus Estimate stands at 29 cents.
Avista Corp. (AVA - Free Report) is scheduled to report second-quarter 2016 results on Aug 3 before the market opens. The Zacks Consensus Estimate stands at 43 cents.
CenterPoint Energy, Inc. (CNP - Free Report) is scheduled to report second-quarter 2016 results on Aug 5 before the market opens. The Zacks Consensus Estimate stands at 20 cents.
Zacks Rank
NiSource currently has 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 >>