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.
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.
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.
NiSource has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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.
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