Stock Monitor: MGE Energy Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 4, 2018 / If you want access to our free earnings report on NiSource Inc. (NYSE: NI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NI. The Company reported its financial results on March 31, 2018, for the first quarter of the fiscal year 2018 ended May 02, 2018. The Company's earnings for Q1 FY18 were in-line with analysts' consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
NiSource's total revenues reached $1.75 billion in Q1 FY18, reflecting an increase of 9.52% from $1.60 billion in Q1 FY17. For the quarter under review, the Company's customer revenues jumped 11.33% to $1.72 billion, while its other revenues fell 40.11% to $33.60 million on a y-o-y basis.
During Q1 FY18, NiSource's total operating expenses were $1.35 billion, 14.11% higher than $1.18 billion in Q1 FY17. The Company's cost of sales, excluding depreciation and amortization, advanced 31.16% to $724.40 million on a y-o-y basis, while its operation and maintenance expenses declined 2.21% to $402.50 million on a y-o-y basis in the reported quarter. NiSource's operating income was $400.60 million in Q1 FY18, down 3.56% from $415.40 million in Q1 FY17.
NiSource's net income was $276.10 million in the quarter ended March 31, 2018, 30.67% higher than $211.30 million in the same period of last year. The Company's basic earnings per share (EPS) jumped 26.15% to $0.82 in the reported quarter from $0.65 in Q1 FY17. The Company's reported earnings included a gain on sale of assets and weather-related impact on operating revenues. NiSource's non-GAAP net operating earnings were $259.70 million in Q1 FY18, up 12.62% from $230.60 million in Q1 FY17. The Company's non-GAAP net operating EPS increased 8.45% to $0.77 in the quarter under review from $0.71 in the year ago comparable quarter, and was consistent with analysts' consensus estimates.
During Q1 FY18, NiSource's Gas Distribution Operations segment's non-GAAP revenues were $737.30 million, down 3.83% on a y-o-y basis. The segment's non-GAAP operating earnings were $320.20 million in Q1 FY18, 11.52% lower than $361.90 million in Q1 FY17.
NiSource's Electric Operations segment had non-GAAP revenues of $293.70 million in Q1 FY18, a decrease of 5.74% from the prior year's comparable quarter. The segment had non-GAAP operating earnings of $86 million in the quarter under review, up 1.18% from $85 million in Q1 FY17.
NiSource had cash and cash equivalents of $35 million as on March 31, 2018, an increase of 20.69% from $29 million as on December 31, 2017.
NiSource's net cash flow from operating activities was $388.20 million in the three months ended March 31, 2018, 5.57% lower than $411.10 million in the corresponding period of last year. The Company incurred capital expenditure of $370 million in Q1 FY18, 18.59% higher than $312 million in Q1 FY17. NiSource paid dividends of $65.70 million in the reported quarter compared to $56.50 million in Q1 FY17, reflecting an increase of 16.28%.
On January 26, 2018, NiSource increased its quarterly dividend to an annualized $0.78 per share, up 11.40% from $0.70 per share in 2017.
Stock Performance Snapshot
June 01, 2018 - At Friday's closing bell, NiSource's stock fell 2.21%, ending the trading session at $24.74.
Volume traded for the day: 2.87 million shares.
Stock performance in the previous three-month period - up 6.78%
After last Friday's close, NiSource's market cap was at $8.54 billion.
Price to Earnings (P/E) ratio was at 43.79.
The stock has a dividend yield of 3.15%.
The stock is part of the Utilities sector, categorized under the Diversified Utilities industry.
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