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NiSource's (NI) Q2 Earnings Beat Estimates, Revenues Miss
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NiSource Inc (NI - Free Report) delivered operating earnings of 13 cents per share in second-quarter 2020, which surpassed the Zacks Consensus Estimate of 7 cents by 85.7%. Also, the bottom line surged 160% from the year-ago quarter’s figure.
On a GAAP basis, the company reported loss of 5 cents per share against earnings of 76 cents in the year-ago quarter.
Total Revenues
NiSource generated total net revenues of $957.4 million in the second quarter, which missed the Zacks Consensus Estimate of $1,073 million by 10.8%. Further, the top line declined 5.4% from $1,011.9 million reported in the year-ago quarter.
FirstEnergy Corporation (FE - Free Report) delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, trumping the Zacks Consensus Estimate of $2.50 by 4.4%.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2020 adjusted earnings per share of 49 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
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NiSource's (NI) Q2 Earnings Beat Estimates, Revenues Miss
NiSource Inc (NI - Free Report) delivered operating earnings of 13 cents per share in second-quarter 2020, which surpassed the Zacks Consensus Estimate of 7 cents by 85.7%. Also, the bottom line surged 160% from the year-ago quarter’s figure.
On a GAAP basis, the company reported loss of 5 cents per share against earnings of 76 cents in the year-ago quarter.
Total Revenues
NiSource generated total net revenues of $957.4 million in the second quarter, which missed the Zacks Consensus Estimate of $1,073 million by 10.8%. Further, the top line declined 5.4% from $1,011.9 million reported in the year-ago quarter.
NiSource, Inc Price, Consensus and EPS Surprise
NiSource, Inc price-consensus-eps-surprise-chart | NiSource, Inc Quote
Highlights of the Release
Total operating expenses in the quarter under review fell 10% year over year to $792.1 million.
Total interest expenses in the reported quarter increased 3.1% from the prior-year quarter’s figure to $97 million.
It reaffirmed its expected 2020 CapEx at $1.7-$1.8 billion.
Financial Update
NiSource's cash and cash equivalents as of Jun 30, 2020 were $142.2 million, up from $139.3 million as of Dec 31, 2019.
Long-term debts (excluding amounts due within a year) as of Jun 30 were $8,810.2 million compared with $ 7,856.2 million as of Dec 31, 2019.
Net cash flows from operating activities for the first half of 2020 were $707.7 million compared with $926.2 million for the first half of 2019.
Zacks Rank
NiSource currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, trumping the Zacks Consensus Estimate of $2.50 by 4.4%.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2020 adjusted earnings per share of 49 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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