NiSource Inc (NYSE:NI) delivered operating earnings of 38 cents per share in fourth-quarter 2018, beating the Zacks Consensus Estimate of 37 cents by 2.7%. Earnings increased 15.2% from the year-ago quarter’s tally.
On a GAAP basis, the company reported a loss of 5 cents compared with a loss of 16 cents in the year-ago quarter.
In 2018, NiSource generated earnings of $1.30, up from $1.21 delivered in 2017.
Total Revenues
NiSource generated total net revenues of $1,453.1 million in fourth-quarter 2018, which beat the Zacks Consensus Estimate of $1,400 million by 3.8%. Revenues increased from $1,361.4 million in the year-ago quarter.
In 2018, NiSource generated revenues of $5,084 million, up from $4,904.8 million in 2017.
Highlights of the Release
Total operating expenses in the quarter under review increased 4% year over year to $658.7 million.
Total interest expenses in the reported quarter fell 4.6% from the prior-year quarter’s figure to $88.1 million.
Financial Update
NiSource's cash and cash equivalents as of Dec 31, 2018 were $112.8 million, up from $29 million as of Dec 31, 2017.
Long-term debts (excluding amounts due within a year) as of Dec 31, 2018 were $7,105.4 million compared with $ 7,512.2 million as of Dec 31, 2017.
Net cash provided from operating activities in 2018 was $540.1 compared with $742.2 million in 2017.
Guidance
In 2019, NiSource expects to invest $1.6-$1.7 billion.The company’ management guided 2019 EPS in the range of $1.27-$1.33, whose mid-point of $1.30 is lower than the current Zacks Consensus Estimate of $1.34.
NiSource expects to grow its earnings and dividend by 5% to 7% annually from 2019 through 2022. The company expects to make capital investments of $1.6 to $2.0 billion annually from 2020 to 2022 time period.
Zacks Rank
NiSource currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc (NYSE:NEE) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc (NYSE:AEP) generated fourth-quarter 2018 operating EPS of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc (NASDAQ:XEL) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
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NextEra Energy, Inc. (NEE): Free Stock Analysis Report
Xcel Energy Inc. (XEL): Free Stock Analysis Report
NiSource, Inc (NI): Free Stock Analysis Report
American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
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