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NiSource's (NI) Q4 Earnings Beat Estimates, Revenues Miss
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NiSource Inc (NI - Free Report) 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.
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.
Zacks Rank
NiSource currently carries a Zacks Rank #4 (Sell).
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2020 operating earnings of 54 cents per share, inline with the Zacks Consensus Estimate.
WEC Energy Group (WEC - Free Report) delivered fourth-quarter 2020 earnings per share of 76 cents, which beat the Zacks Consensus Estimate of 74 cents by 2.7%.
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NiSource's (NI) Q4 Earnings Beat Estimates, Revenues Miss
NiSource Inc (NI - Free Report) 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.
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 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.
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
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2020 operating earnings of 54 cents per share, inline with the Zacks Consensus Estimate.
WEC Energy Group (WEC - Free Report) delivered fourth-quarter 2020 earnings per share of 76 cents, which beat the Zacks Consensus Estimate of 74 cents by 2.7%.
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Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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