NiSource Inc. (NI), while reporting higher second-quarter earnings above market estimates, on Wednesday narrowed outlook for fiscal 2025 earnings towards the upper half of range.
For the year, the company now expects adjusted earnings per share in the upper half of its previous outlook of $1.85-$1.89.
The Wall Street analysts on average expect the company to report earnings of $1.87 per share. Analysts' estimates typically exclude special items.
The company added that annual rate base growth of 8% to 10% and adjusted earnings per share growth of 6%-8% annually is driven by $19.4 billion of capital expenditures for the 2025-2029 period.
The company's second-quarter earnings came in at $102.2 million or $0.22 per share. This compares with $85.8 million, or $0.19 per share, last year.
Adjusted earnings were $101.9 million or $0.22 per share for the period, compared to $0.21 last year. Analysts expected $0.19 per share.
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