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NiSource (NI) Q1 Earnings and Revenues Surpass Estimates
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NiSource Inc. (NI - Free Report) delivered operating earnings of 82 cents per share in first-quarter 2019, beating the Zacks Consensus Estimate of 77 cents by 6.5%. The bottom line also increased 6.5% from the year-ago quarter’s tally. The upside was primarily driven by the company’s continued execution of long-term utility infrastructure modernization programs.
On a GAAP basis, the company reported earnings of 55 cents compared with 82 cents in the prior-year quarter.
Total Revenues
NiSource generated operating revenues of $1,858.1 million in first-quarter 2019, which outpaced the Zacks Consensus Estimate of $1,841 million by 1%. The top line also increased 6% from $1,752.2 million recorded in the year-ago quarter.
Total operating expenses in the quarter under review increased 8.8% year over year to $681.5 million.
Total interest expenses in the reported quarter increased 2.7% from the prior-year quarter’s figure to $95.6 million.
Financial Update
NiSource's cash and cash equivalents as of Mar 31, 2019, were $151 million, up from $112.8 million as of Dec 31, 2018.
Long-term debts (excluding amounts due within a year) as of Mar 31, 2019, were $7,110.1 million compared with $7,105.4 million as of Dec 31, 2018.
Net cash provided from operating activities in the first quarter was $399.1 million, up from $388.2 million in the prior-year quarter.
Guidance
For 2019, NiSource reaffirmed investment guidance in the range of $1.6-$1.7 billion. Management projects 2019 EPS in the range of $1.27-$1.33. The mid-point of $1.30 is in line with the current Zacks Consensus Estimate.
NiSource expects its earnings and dividend to increase by 5% to 7% annually from 2019 through 2022. The company expects to make capital investments of $1.6-$2.0 billion annually from 2020 to 2022 time period.
DTE Energy Company (DTE - Free Report) delivered first-quarter 2019 operating earnings of $2.05 per share, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
NextEra Energy, Inc (NEE - Free Report) generated first-quarter 2019 adjusted earnings of $2.20 per share, which outpaced the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2019 operating earnings of 67 cents per share, which surpassed the Zacks Consensus Estimate of 66 cents by 1.52%.
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NiSource (NI) Q1 Earnings and Revenues Surpass Estimates
NiSource Inc. (NI - Free Report) delivered operating earnings of 82 cents per share in first-quarter 2019, beating the Zacks Consensus Estimate of 77 cents by 6.5%. The bottom line also increased 6.5% from the year-ago quarter’s tally. The upside was primarily driven by the company’s continued execution of long-term utility infrastructure modernization programs.
On a GAAP basis, the company reported earnings of 55 cents compared with 82 cents in the prior-year quarter.
Total Revenues
NiSource generated operating revenues of $1,858.1 million in first-quarter 2019, which outpaced the Zacks Consensus Estimate of $1,841 million by 1%. The top line also increased 6% from $1,752.2 million recorded in the year-ago quarter.
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 8.8% year over year to $681.5 million.
Total interest expenses in the reported quarter increased 2.7% from the prior-year quarter’s figure to $95.6 million.
Financial Update
NiSource's cash and cash equivalents as of Mar 31, 2019, were $151 million, up from $112.8 million as of Dec 31, 2018.
Long-term debts (excluding amounts due within a year) as of Mar 31, 2019, were $7,110.1 million compared with $7,105.4 million as of Dec 31, 2018.
Net cash provided from operating activities in the first quarter was $399.1 million, up from $388.2 million in the prior-year quarter.
Guidance
For 2019, NiSource reaffirmed investment guidance in the range of $1.6-$1.7 billion. Management projects 2019 EPS in the range of $1.27-$1.33. The mid-point of $1.30 is in line with the current Zacks Consensus Estimate.
NiSource expects its earnings and dividend to increase by 5% to 7% annually from 2019 through 2022. The company expects to make capital investments of $1.6-$2.0 billion annually from 2020 to 2022 time period.
Zacks Rank
NiSource has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
DTE Energy Company (DTE - Free Report) delivered first-quarter 2019 operating earnings of $2.05 per share, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
NextEra Energy, Inc (NEE - Free Report) generated first-quarter 2019 adjusted earnings of $2.20 per share, which outpaced the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2019 operating earnings of 67 cents per share, which surpassed the Zacks Consensus Estimate of 66 cents by 1.52%.
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 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>