NiSource Inc. (NI - Free Report) reported second-quarter 2017 operating earnings of 10 cents per share, which was in line with the Zacks Consensus Estimate. Earnings also increased 25% year over year.
The company reported GAAP loss of 14 cents per share compared with 9 cents in the year-ago period. The difference between the GAAP and operating earnings was due to a 14 cents impact of one-time non-recurring items.
Revenues
In second-quarter 2017, NiSource’s gross revenues of $990.7 million surpassed the Zacks Consensus Estimate of $935 million by 6%. Revenues also increased 11% year over year from $893 million.
Highlights of the Release
At the end of June, the Indiana Utility Regulatory Commission (IURC) approved Northern Indiana Public Service Company's (NIPSCO) latest semi-annual tracker update covering approximately $61 million. These investments were made back in the second half of 2016.
For the Electric Operations, IURC earlier approved NIPSCO's approximately $1.25 billion of electric infrastructure investments expected to be made through 2022. The subsidiary started recovering approximately $46 million of these investments. During the second quarter, it filed its latest tracker update request with the commission, covering $133.6 million in investments from May 2016 through Apr 2017.
Guidance
NiSource increased the 2017 non-GAAP earnings guidance to a range of $1.17 to $1.20 per share from the range of $1.12 to $1.18 per share.
The company remains on track to complete $1.6–$1.8 billion of planned utility infrastructure investments through 2020, of which it plans to invest $1.6 to $1.7 billion in 2017.
Zacks Rank
NiSource has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
Eversource Energy (ES - Free Report) reported second-quarter 2017 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 68 cents by 5.8%. The quarterly earnings were also up 12.5% from the year-ago quarter figure of 64 cents.
FirstEnergy Corp. (FE - Free Report) reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings were also up 8.9% year over year.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
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NiSource Inc. (NI - Free Report) reported second-quarter 2017 operating earnings of 10 cents per share, which was in line with the Zacks Consensus Estimate. Earnings also increased 25% year over year.
The company reported GAAP loss of 14 cents per share compared with 9 cents in the year-ago period. The difference between the GAAP and operating earnings was due to a 14 cents impact of one-time non-recurring items.
Revenues
In second-quarter 2017, NiSource’s gross revenues of $990.7 million surpassed the Zacks Consensus Estimate of $935 million by 6%. Revenues also increased 11% year over year from $893 million.
Highlights of the Release
At the end of June, the Indiana Utility Regulatory Commission (IURC) approved Northern Indiana Public Service Company's (NIPSCO) latest semi-annual tracker update covering approximately $61 million. These investments were made back in the second half of 2016.
For the Electric Operations, IURC earlier approved NIPSCO's approximately $1.25 billion of electric infrastructure investments expected to be made through 2022. The subsidiary started recovering approximately $46 million of these investments. During the second quarter, it filed its latest tracker update request with the commission, covering $133.6 million in investments from May 2016 through Apr 2017.
Guidance
NiSource increased the 2017 non-GAAP earnings guidance to a range of $1.17 to $1.20 per share from the range of $1.12 to $1.18 per share.
The company remains on track to complete $1.6–$1.8 billion of planned utility infrastructure investments through 2020, of which it plans to invest $1.6 to $1.7 billion in 2017.
Zacks Rank
NiSource has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
Eversource Energy (ES - Free Report) reported second-quarter 2017 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 68 cents by 5.8%. The quarterly earnings were also up 12.5% from the year-ago quarter figure of 64 cents.
FirstEnergy Corp. (FE - Free Report) reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings were also up 8.9% year over year.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
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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