NiSource (NI) Earnings and Revenues Beat Estimates in Q2

NiSource Inc. NI has reported second-quarter 2022 operating earnings per share (EPS) of 12 cents, which surpassed the Zacks Consensus Estimate by a penny. The bottom line declined 7.7% from the year-ago quarter’s earnings of 13 cents per share.

On a GAAP basis, NiSource reported second-quarter 2022 EPS of 12 cents, up 9.1% from 11 cents in the year-ago quarter.

Total Revenues

Operating revenues of $1,183.2 million surpassed the Zacks Consensus Estimate of $1,093 million by 8.2%. The top line improved 20% from $986 million in the prior-year quarter.

NiSource, Inc Price, Consensus and EPS Surprise

 

NiSource, Inc Price, Consensus and EPS Surprise

NiSource, Inc price-consensus-eps-surprise-chart | NiSource, Inc Quote

Highlights of the Release

Total operating expenses for the second quarter amounted to $1,039.9 million, up 23.2% from the year-ago quarter’s $843.8 million due to the higher cost of energy, and operating and maintenance expenses.

The operating income was $143.3 million, up 0.8% from the year-ago figure of $142.2 million.

Net interest expenses in the reported quarter were on par with the prior-year quarter’s figure of $84.5 million.

Financial Update

NiSource's cash and cash equivalents as of Jun 30, 2022, were $77.8 million, down from $84.2 million as of Dec 31, 2021. NiSource had $1.6 billion in net available liquidity as of Jun 30, 2022.

Long-term debts (excluding amounts due within a year) as of Jun 30, 2022, were $9,520.2 million compared with $9,183.4 million as of Dec 31, 2021.

Net cash flows from operating activities in the first six months of 2022 were $907.2 million compared with $703 million in the same period of 2021.

Guidance

NiSource has reiterated the 2022 non-GAAP net operating earnings guidance at $1.42-$1.48 per share. The company expects earnings to witness a CAGR of 7-9% from 2021 through 2024, including a near-term annual growth rate of 5-7% through 2023.

NiSource remains on track to make capital investments totaling nearly $10 billion in 2021-2024. Capital investments for renewable projects of $2 billion are expected. NiSource expects to be coal-free by 2026-2028, with renewable generation providing reliable energy to customers.

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 reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%.

The Zacks Consensus Estimate for NextEra Energy’s 2022 earnings has gone up 2.1% in the past 60 days. NEE’s long-term (three to five years) earnings growth is pegged at 9.3%.

WEC Energy Group WEC delivered second-quarter 2022 earnings per share (EPS) of 91 cents, which beat the Zacks Consensus Estimate of 86 cents by 5.8%.

The Zacks Consensus Estimate for WEC Energy’s 2022 earnings has gone up 0.3% in the past 60 days. WEC’s long-term earnings growth is pegged at 6.1%. The WEC stock has gained 9.5% over the past six months.

American Electric Power Company, Inc. AEP reported second-quarter 2022 operating earnings per share of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%.

The Zacks Consensus Estimate for American Electric Power’s 2022 earnings has gone up 0.6% in the past 60 days. AEP’s long-term earnings growth is pegged at 6.2%.

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