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NiSource's (NI) Q2 Earnings Beat Estimates, Revenues Miss

Zacks Equity Research

NiSource Inc NI delivered operating earnings of 13 cents per share in second-quarter 2020, which surpassed the Zacks Consensus Estimate of 7 cents by 85.7%. Also, the bottom line surged 160% from the year-ago quarter’s figure.

On a GAAP basis, the company reported loss of 5 cents per share against earnings of 76 cents in the year-ago quarter.

Total Revenues

NiSource generated total net revenues of $957.4 million in the second quarter, which missed the Zacks Consensus Estimate of $1,073 million by 10.8%. Further, the top line declined 5.4% from $1,011.9 million reported in the year-ago quarter.

NiSource, Inc Price, Consensus and EPS Surprise

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 in the quarter under review fell 10% year over year to $792.1 million.

Total interest expenses in the reported quarter increased 3.1% from the prior-year quarter’s figure to $97 million.

It reaffirmed its expected 2020 CapEx at $1.7-$1.8 billion.

Financial Update

NiSource's cash and cash equivalents as of Jun 30, 2020 were $142.2 million, up from $139.3 million as of Dec 31, 2019.

Long-term debts (excluding amounts due within a year) as of Jun 30 were $8,810.2 million compared with $ 7,856.2 million as of Dec 31, 2019.

Net cash flows from operating activities for the first half of 2020 were $707.7 million compared with $926.2 million for the first half of 2019.

Zacks Rank

NiSource currently carries a Zacks Rank #4 (Sell).

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

Other Utility Releases

FirstEnergy Corporation FE delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.

NextEra Energy, Inc. NEE reported second-quarter 2020 adjusted earnings of $2.61 per share, trumping the Zacks Consensus Estimate of $2.50 by 4.4%.

CMS Energy Corporation CMS reported second-quarter 2020 adjusted earnings per share of 49 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.

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