Plus   Neg

NiSource Guides FY21 Adj. EPS Below Estimates - Quick Facts

While reporting financial results for the second quarter on Wednesday, electric utility NiSource Inc. (NI) did not provide outlook for the full-year 2020, but initiated adjusted net operating earnings guidance for the full-year 2021.

For fiscal 2021, company now projects adjusted net operating earnings in the range of $1.28 to $1.36 per share.

On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $1.37 per share for the year. Analysts' estimates typically exclude special items.

The guidance reflects management's expectations about initial cost savings to be achieved through the strategic initiative and includes the base case scenario impacts of COVID-19.

This guidance establishes the starting point for the long-term plan that will extend through 2024 with an expected rate base compound annual growth rate (CAGR) of 10 to 12 percent.

This rate base growth is also expected to drive earnings per share growth in excess of the previous by 5 to 7 percent annual growth commitment, with a shift to a CAGR due to the timing of investments in the company's renewable generation portfolio.

Despite challenges related to the pandemic, NiSource continues to expect to make $1.7 to $1.8 billion in capital investments in 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Australia's Westpac Group (WBC.AX, WBK) agreed to pay A$1.3 billion to settle the civil proceedings over money laundering and child exploitation allegations brought by financial crimes regulator AUSTRAC. Amazon's much-awaited Prime Day shopping event will take place in mid-October, according to multiple reports. The annual sale event will reportedly kick off in the U.S. on Tuesday, October 13. Amazon Prime Day, the company's biggest, global shopping event of the year, is usually held in the U.S. in mid-July. However, the e-commerce giant confirmed in July that it is delaying this year's event. Walmart Foundation, Cargill and McDonald's said they will invest more than $6 million in a million-acre grazing initiative to help restore grasslands and address the issue of climate change. The initiative, led by the World Bank, aims to make lasting improvements to the grasslands of the Northern Great Plains. The new program is known as the Ranch Systems and Viability Planning or RSVP network.
Follow RTT