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NiSource's (NI) Earnings and Revenues Miss Estimates in Q1

Zacks Equity Research

NiSource Inc NI delivered operating earnings of 76 cents per share in first-quarter 2020, which missed the Zacks Consensus Estimate of 80 cents by 5%. Earnings fell 7.3% from the year-ago quarter’s tally.

On a GAAP basis, the company reported earnings of 16 cents compared with 55 cents in the year-ago quarter.

Total Revenues

NiSource generated total net revenues of $1,631.8 million in the first quarter, which missed the Zacks Consensus Estimate of $1,953 million by 16.4%. Revenues declined 12.2% from $1,858.9 million reported in the year-ago quarter. 

Highlights of the Release

Total operating expenses in the quarter under review fell 14.1% year over year to $1,169.1 million.

Total interest expenses in the reported quarter declined 2.8% from the prior-year quarter’s figure to $92.9 million.

The first quarter financial results of the company were minimally affected by COVID-19. However, it has lowered 2020 CapEx by $100 million.

NiSource, Inc Price, Consensus and EPS Surprise

 

NiSource, Inc Price, Consensus and EPS Surprise

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

 

Financial Update

NiSource's cash and cash equivalents as of Mar 31, 2020 were $203.8 million, up from $139.3 million as of Dec 31, 2019.

Long-term debts (excluding amounts due within a year) as of Mar 31 were $7,817.9 million compared with $ 7,856.2 million as of Dec 31, 2019.

Net cash provided from operating activities in the first quarter of 2020 was $369.9 million compared with $399.1 million activities in the first quarter of 2019.

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

FirstEnergy Corporation FE delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.

NextEra Energy NEE reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.

CMS Energy Corporation CMS reported first-quarter 2020 adjusted earnings per share of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.

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