NiSource Inc. Earnings Cheat Sheet: Profit Up

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

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

NiSource Earnings Cheat Sheet for the Third Quarter

Results: Net income for NiSource Inc. rose to $36.3 million (13 cents per share) vs. $33.4 million (12 cents per share) in the same quarter a year earlier. This marks a rise of 9.3% from the year earlier quarter.

Revenue: Rose 2% to $1.02 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NI reported adjusted net income of 11 cents per share. By that measure, the company beat the mean estimate of 10 cents per share. It fell short of the average revenue estimate of $1.05 billion.

Quoting Management: “NiSource’s balanced, investment-driven business strategy continues to deliver solid results in line with our 2011 earnings outlook and consistent with our long-term growth plan,” NiSource President and Chief Executive Officer Robert C. Skaggs Jr. said. “Despite sluggish economic conditions, NiSource teams continue to execute on fundamental initiatives across each segment of our business. These accomplishments are key to our commitments to enhance customer service, modernize our energy infrastructure, drive long-term, sustainable earnings growth and increase shareholder value.”

Key Stats:

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of 17 cents versus a mean estimate of net income of 14 cents per share.

Revenue rose again after seeing growth the quarter before. Revenue rose 4.9% to $1.23 billion in the second quarter from the year earlier.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 40 cents per share to 36 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved up from $1.33 a share to $1.34 over the last seven days.

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).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)