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NiSource (NI) Earnings and Revenues Beat Estimates in Q4

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NiSource Inc (NI - Free Report) delivered operating earnings of 38 cents per share in fourth-quarter 2018, beating the Zacks Consensus Estimate of 37 cents by 2.7%. Earnings increased 15.2% from the year-ago quarter’s tally.

On a GAAP basis, the company reported a loss of 5 cents compared with a loss of 16 cents in the year-ago quarter.

In 2018, NiSource generated earnings of $1.30, up from $1.21 delivered in 2017.

Total Revenues

NiSource generated total net revenues of $1,453.1 million in fourth-quarter 2018, which beat the Zacks Consensus Estimate of $1,400 million by 3.8%. Revenues increased from $1,361.4 million in the year-ago quarter.

In 2018, NiSource generated revenues of $5,084 million, up from $4,904.8 million in 2017.

NiSource, Inc Price, Consensus and EPS Surprise

NiSource, Inc Price, Consensus and EPS Surprise | NiSource, Inc Quote

Highlights of the Release

Total operating expenses in the quarter under review increased 4% year over year to $658.7 million.

Total interest expenses in the reported quarter fell 4.6% from the prior-year quarter’s figure to $88.1 million.

Financial Update

NiSource's cash and cash equivalents as of Dec 31, 2018 were $112.8 million, up from $29 million as of Dec 31, 2017.

Long-term debts (excluding amounts due within a year) as of Dec 31, 2018 were $7,105.4 million compared with $ 7,512.2 million as of Dec 31, 2017.

Net cash provided from operating activities in 2018 was $540.1 compared with $742.2 million in 2017.

Guidance

In 2019, NiSource expects to invest $1.6-$1.7 billion.The company’ management guided 2019 EPS in the range of $1.27-$1.33, whose mid-point of $1.30 is lower than the current Zacks Consensus Estimate of $1.34.

NiSource expects to grow its earnings and dividend by 5% to 7% annually from 2019 through 2022. The company expects to make capital investments of $1.6 to $2.0 billion annually from 2020 to 2022 time period.

Zacks Rank

NiSource currently carries a Zacks Rank #3 (Hold).

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) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.

American Electric Power Co., Inc (AEP - Free Report) generated fourth-quarter 2018 operating EPS of 72 cents, in line with the Zacks Consensus Estimate.

Xcel Energy Inc (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.

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