It has been about a month since the last earnings report for NiSource (NI - Free Report) . Shares have added about 3.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is NiSource due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
NiSource's Q4 Earnings Beat Estimates, Revenues Miss
NiSource delivered net operating earnings of 34 cents per share in fourth-quarter 2020, which surpassed the Zacks Consensus Estimate of 32 cents by 6.3%. However, the same declined 24.4% from the year-ago quarter’s figure.
On a GAAP basis, the company reported earnings of 18 cents per share against the loss of 41 cents in the year-ago quarter.
Total Revenues
NiSource generated total net revenues of $1,210 million in the fourth quarter, which missed the Zacks Consensus Estimate of $1,482 million by 18.4%. Further, the top line dropped 12.7% from $1,385.4 million reported in the year-ago quarter.
Highlights of the Release
Total operating expenses in the quarter under review fell 11.2% year over year to $ 954.9 million.
Total interest expenses in the reported quarter decreased 8.3% from the prior-year quarter’s figure to $85.6 million.
Financial Update
NiSource's cash and cash equivalents as of Dec 31, 2020 were $116.5 million, down from $139.3 million as of Dec 31, 2019.
Long-term debts (excluding amounts due within a year) as of Dec 31 were $9,219.8 million compared with $7,856.2 million as of Dec 31, 2019.
Net cash flows from operating activities in 2020 were $1,104 million compared with $1,583.3 million in 2019.
Outlook
NiSource reaffirmed its 2021 non-GAAP net operating earnings in the range of $1.28-$1.36 per share. Also, it expects net operating earnings per share to see a CAGR of 7-9% from 2021 through 2024 including near-term annual growth of 5-7% through 2023.
During the same time frame, the utility anticipates investing $1.9-$2.2 billion annually in growth, safety and modernization along with $1.8-$2 billion investments in renewable generation assets.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
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It has been about a month since the last earnings report for NiSource (NI - Free Report) . Shares have added about 3.2% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is NiSource due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
NiSource's Q4 Earnings Beat Estimates, Revenues Miss
NiSource delivered net operating earnings of 34 cents per share in fourth-quarter 2020, which surpassed the Zacks Consensus Estimate of 32 cents by 6.3%. However, the same declined 24.4% from the year-ago quarter’s figure.
On a GAAP basis, the company reported earnings of 18 cents per share against the loss of 41 cents in the year-ago quarter.
Total Revenues
NiSource generated total net revenues of $1,210 million in the fourth quarter, which missed the Zacks Consensus Estimate of $1,482 million by 18.4%. Further, the top line dropped 12.7% from $1,385.4 million reported in the year-ago quarter.
Highlights of the Release
Total operating expenses in the quarter under review fell 11.2% year over year to $ 954.9 million.
Total interest expenses in the reported quarter decreased 8.3% from the prior-year quarter’s figure to $85.6 million.
Financial Update
NiSource's cash and cash equivalents as of Dec 31, 2020 were $116.5 million, down from $139.3 million as of Dec 31, 2019.
Long-term debts (excluding amounts due within a year) as of Dec 31 were $9,219.8 million compared with $7,856.2 million as of Dec 31, 2019.
Net cash flows from operating activities in 2020 were $1,104 million compared with $1,583.3 million in 2019.
Outlook
NiSource reaffirmed its 2021 non-GAAP net operating earnings in the range of $1.28-$1.36 per share. Also, it expects net operating earnings per share to see a CAGR of 7-9% from 2021 through 2024 including near-term annual growth of 5-7% through 2023.
During the same time frame, the utility anticipates investing $1.9-$2.2 billion annually in growth, safety and modernization along with $1.8-$2 billion investments in renewable generation assets.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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