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NiSource (NI) Beats on Q1 Earnings, Misses Revenues

NiSource Inc. NI is an energy holding company. The Merrillville, IN-based firm is engaged in natural gas transmission, storage and distribution, and electric generation, transmission and distribution business.

NiSource’s stable cash generating capacity, steady focus on regulated utility operations and systematic investments in infrastructure modernization and expansion projects will likely boost its future performance. In addition, the company’s practice of paying dividend is commendable.

Last year, NiSource completed the spin-off of its pure-play natural gas pipeline, midstream and storage unit – Columbia Pipeline Group, Inc. (CPG). Post completion, CPG is now an independent public company trading on the NYSE under the symbol (CPGX).

Estimate Trend & Surprise History

Investors should note that the first quarter earnings estimate of 58 cents has remained unchanged over the past 90 days.

Coming to the earnings surprise, NiSource has surpassed the Zacks Consensus Estimate in three of the last four quarters making for an average positive surprise of 47.20%.

Zacks Rank: Currently, NiSource has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: NiSource surpassed first quarter 2016 earnings estimates. Our consensus called for first-quarter EPS of 58 cents, and the company reported EPS of 60 cents.

Revenue: NiSource missed the revenue estimates. The company posted revenues of $1,453.8 million, compared to our first-quarter consensus estimate of $2,040 million.

Key Stats to Note: In the quarter, NiSource’s Gas Distribution sales decreased 0.3% year over year to 365.4 MMDth. The company’s sales from Electric Operations also declined nearly 3.3% to 4,199.3 gigawatt hours.

Stock Price:  It would be interesting to see how the market reacts to the earnings release during the trading session today.

Check back later for our full write up on this NI earnings report later!

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NISOURCE INC (NI): Free Stock Analysis Report
 
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