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's (NI) Q4 Earnings and Revenues Surpass Estimates
Read MoreHide Full Article
NiSource Inc. (NI - Free Report) reported fourth-quarter 2022 operating earnings per share (EPS) of 50 cents, beating the Zacks Consensus Estimate by a penny and the year-ago quarter’s earnings by 28.2%, respectively.
On a GAAP basis, NiSource reported fourth-quarter 2022 EPS of 52 cents, compared with 36 cents reported in the year-ago quarter.
In 2022, earnings per share were $1.47, up 7.3% from the $1.37 reported in 2021.
Earnings per share in 2022 were within the guidance range of $1.44-$1.46.
Total Revenues
Operating revenues of $1,705 million surpassed the Zacks Consensus Estimate of $1,555 million by 9.6%. The top line increased 21% from the prior-year quarter.
In 2022, total revenues were $5,833.7 million, up 19.1% from year-ago level.
Total operating expenses in the fourth quarter amounted to $1,339.1 million, up 19.7% from the year-ago quarter’s $1,118.5 million due to higher energy costs.
The operating income was $362.3 million, up 19.3% from the year-ago quarter’s figure of $303.8 million.
Net interest expenses in the reported quarter were $101.8 million, up 16.2% from the prior-year quarter’s figure of $87.6 million.
Financial Update
NiSource's cash and cash equivalents as of Dec 31, 2022, were $40.8 million, down from $84.2 million as of Dec 31, 2021. NiSource had $1.6 billion in net available liquidity as of Dec 31, 2022.
Long-term debts (excluding amounts due within a year) as of Dec 31, 2022, were $9,523.6 million compared with $9,183.4 million as of Dec 31, 2021.
Net cash flows from operating activities in 2022 were $1,409.4 million compared with $1,217.9 million in 2021.
Guidance
NiSource increased its 2023 non-GAAP net operating earnings guidance to the range of $1.54-$1.60 per share from the earlier range of $1.50-$1.57 per share. The company expects earnings to witness a CAGR of 6-8% from 2021 through 2027.
NiSource expects to invest $15 billion in the 2023-2027 time period and expects its 2023 capital expenditure to be in the range of $3.3-$3.6 billion.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%.
The Zacks Consensus Estimate for NEE’s 2023 earnings per share is $3.12, implying year-over-year growth of 7.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2022 operating earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate of $1.03 per share by 2.9%.
The Zacks Consensus Estimate for Dominion’s 2023 earnings per share is $4.02, suggesting a year-over-year decline of 2.2%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2022 operating earnings of 69 cents per share, on par with the Zacks Consensus Estimate.
The Zacks Consensus Estimate for XEL’s 2023 earnings per share is $3.37, suggesting year-over-year growth of 6.31%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
NiSource's (NI) Q4 Earnings and Revenues Surpass Estimates
NiSource Inc. (NI - Free Report) reported fourth-quarter 2022 operating earnings per share (EPS) of 50 cents, beating the Zacks Consensus Estimate by a penny and the year-ago quarter’s earnings by 28.2%, respectively.
On a GAAP basis, NiSource reported fourth-quarter 2022 EPS of 52 cents, compared with 36 cents reported in the year-ago quarter.
In 2022, earnings per share were $1.47, up 7.3% from the $1.37 reported in 2021.
Earnings per share in 2022 were within the guidance range of $1.44-$1.46.
Total Revenues
Operating revenues of $1,705 million surpassed the Zacks Consensus Estimate of $1,555 million by 9.6%. The top line increased 21% from the prior-year quarter.
In 2022, total revenues were $5,833.7 million, up 19.1% from year-ago level.
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 fourth quarter amounted to $1,339.1 million, up 19.7% from the year-ago quarter’s $1,118.5 million due to higher energy costs.
The operating income was $362.3 million, up 19.3% from the year-ago quarter’s figure of $303.8 million.
Net interest expenses in the reported quarter were $101.8 million, up 16.2% from the prior-year quarter’s figure of $87.6 million.
Financial Update
NiSource's cash and cash equivalents as of Dec 31, 2022, were $40.8 million, down from $84.2 million as of Dec 31, 2021. NiSource had $1.6 billion in net available liquidity as of Dec 31, 2022.
Long-term debts (excluding amounts due within a year) as of Dec 31, 2022, were $9,523.6 million compared with $9,183.4 million as of Dec 31, 2021.
Net cash flows from operating activities in 2022 were $1,409.4 million compared with $1,217.9 million in 2021.
Guidance
NiSource increased its 2023 non-GAAP net operating earnings guidance to the range of $1.54-$1.60 per share from the earlier range of $1.50-$1.57 per share. The company expects earnings to witness a CAGR of 6-8% from 2021 through 2027.
NiSource expects to invest $15 billion in the 2023-2027 time period and expects its 2023 capital expenditure to be in the range of $3.3-$3.6 billion.
Zacks Rank
NiSource currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%.
The Zacks Consensus Estimate for NEE’s 2023 earnings per share is $3.12, implying year-over-year growth of 7.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2022 operating earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate of $1.03 per share by 2.9%.
The Zacks Consensus Estimate for Dominion’s 2023 earnings per share is $4.02, suggesting a year-over-year decline of 2.2%.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2022 operating earnings of 69 cents per share, on par with the Zacks Consensus Estimate.
The Zacks Consensus Estimate for XEL’s 2023 earnings per share is $3.37, suggesting year-over-year growth of 6.31%.