NiSource Inc. Earnings: Streak of Three Straight Profit Rises Snapped

S&P 500 (NYSE:SPY) component NiSource Inc. (NYSE:NI) reported its results for the fourth quarter. NiSource 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 Fourth Quarter

Results: Net income for NiSource Inc. fell to $14.7 million (6 cents per share) vs. $31.8 million (12 cents per share) a year earlier. This is a decline of 53.8% from the year earlier quarter.

Revenue: Fell 14.9% to $1.49 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NI reported adjusted net income of 32 cents per share. By that measure, the company fell short of mean estimate of 35 cents per share. It fell short of the average revenue estimate of $1.54 billion.

Quoting Management: “2011 was a year of significant achievement, groundbreaking performance and industry-leading growth in shareholder value,” NiSource President and Chief Executive Officer Robert C. Skaggs, Jr. said. “Across the board, NiSource teams delivered on our well-established, infrastructure-investment-driven business strategy. This strategy generated earnings growth in line with our guidance range for the fifth consecutive year, and positioned the company to deliver total shareholder return of approximately 40 percent in 2011, significantly outperforming broader market and utility indices for the third consecutive year.”

Key Stats:

The company fell short of forecasts after beating estimates in the previous two quarters. In the third quarter, it topped the mark by one cent, and in the second quarter, it was ahead by 3 cents.

Looking Forward: For the next quarter, analysts are growing pessimistic about the company’s expected results. The average estimate for the first quarter of the next fiscal year is 75 cents per share, dropping from 76 cents a month ago. The average estimate for the fiscal year is $1.35 per share, up from $1.34 seven days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com