NiSource Earnings Cheat Sheet: Mixed Quarterly Report

Falling revenue did not prevent S&P 500 (NYSE:SPY) component NiSource Inc. (NYSE:NI) from reporting a profit boost in the first quarter. NiSource Inc. is an energy holding company that provides natural gas (NYSE:UNG), electricity and other products and services to customers in the U.S.

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NiSource Earnings Cheat Sheet for the First Quarter

Results: Net income for the diversified utilities company rose to $205.2 million (72 cents/share) vs. $197.3 million (71 cents/share) in the same quarter a year earlier. A rise of 4% from the year earlier quarter.

Revenue: Fell 5.3% to $2.23 billion YoY.

Actual vs. Wall St. Expectations: NI fell in line with the mean analyst estimate of 72 cents/share. Estimates ranged from 68 cents per share to 77 cents per share.

Quoting Management: “NiSource’s robust agenda of significant infrastructure investments paired with complementary commercial and regulatory activity continues to generate tangible benefits for our customers, increased value for our shareholders and positions us for sustainable long-term earnings growth,” President and Chief Executive Officer Robert C. Skaggs, Jr. said. “Our first quarter performance is squarely in line with our expectations as well as our full year 2011 earnings outlook, and sets the stage for ongoing execution of our balanced business strategy.”

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)

Stock Performance: Shares of NI are up a half percent today at $19.62 per share:

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