NiSource Inc. Earnings: Weak Revenue and Net Income

S&P 500 (NYSE:SPY) component NiSource Inc. (NYSE:NI) posted a decrease in profit as revenue declined. 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 First Quarter

Results: Net income for NiSource Inc. fell to $193.4 million (66 cents per share) vs. $209.5 million (73 cents per share) a year earlier. This is a decline of 7.7% from the year-earlier quarter.

Revenue: Fell 25.7% to $1.66 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: NiSource Inc. fell short of the mean analyst estimate of 72 cents per share. It fell short of the average revenue estimate of $2.1 billion.

Quoting Management: “Following a successful 2011, NiSource teams are continuing to execute on a robust combination of investment-driven growth, modernization and regulatory initiatives,” President and Chief Executive Officer Robert C. Skaggs, Jr. said. “This well-established and customer-focused business strategy generated first quarter results squarely in line with our expectations, as well as our 2012 earnings outlook.”

Key Stats:

Revenue has fallen for the past three quarters. In the fourth quarter of the last fiscal year, revenue declined 15.1% to $1.49 billion while the figure fell 6.1% in the third quarter of the last fiscal year from the year earlier.

The company has now fallen short of estimates in the last two quarters. In the fourth quarter of the last fiscal year, it missed expectations by 5 cents with net income of 31 cents versus a mean estimate of net income of 36 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 22 cents a share to 21 cents over the last ninety days. The average estimate for the fiscal year is $1.44 per share, down from $1.45 ninety days ago.

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

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