NiSource Earnings Cheat Sheet: Exceeds Forecasts with Boost of Profit Rise

S&P 500 (NYSE:SPY) component NiSource Inc. (NYSE:NI) reported net income above Wall Street’s expectations for the second quarter. NiSource Inc. is an energy holding company that provides natural gas, electricity and other products and services to customers in the U.S.

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NiSource Earnings Cheat Sheet for the Second Quarter

Results: Net income for NiSource Inc. rose to $39.5 million (14 cents per share) vs. $28.1 million (10 cents per share) in the same quarter a year earlier. This marks a rise of 40.6% from the year earlier quarter.

Revenue: Rose 4.9% to $1.23 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NI reported adjusted net income of 17 cents per share. By that measure, the company beat the mean estimate of 14 cents per share. It fell short of the average revenue estimate of $1.27 billion.

Quoting Management: “NiSource delivered another quarter of solid financial and operational performance, punctuated by significant accomplishments involving nearly all aspects of our business plan,” NiSource President and Chief Executive Officer Robert C. Skaggs Jr. said. “From the settlement of our electric rate case in Indiana, to the achievement of key regulatory, commercial and infrastructure milestones across each of our businesses, our team continues to create innovative energy solutions for our customers and sustainable value for shareholders.”

Key Stats:

A year-over-year revenue increase last quarter snaps a streak of two consecutive quarters of revenue declines. Revenue fell 5.3% in the first quarter and fell 24.3% in the fourth quarter of the last fiscal year.

The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 71 cents versus a mean estimate of net income of 72 cents per share.

Competitors to Watch: Ameren Corporation (NYSE:AEE), CenterPoint Energy, Inc. (NYSE:CNP), Unitil Corporation (NYSE:UTL), Dominion Resources, Inc. (NYSE:D), NorthWestern Corporation (NYSE:NWE), Consolidated Edison, Inc. (NYSE:ED), E.ON AG (EONGY), CMS Energy Corporation (NYSE:CMS), Sempra Energy (NYSE:SRE), and Integrys Energy Group, Inc. (NYSE:TEG).

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(Source: Xignite Financials)