Yahoo Finance NiSource's (NI) Q4 Earnings and Revenues Surpass Estimates
NiSource Inc. NI reported fourth-quarter 2022 operating earnings per share (EPS) of 50 cents, beating the Zacks Consensus Estimate by a penny and the year-ago quarter’s earnings by 28.2%, respectively.
On a GAAP basis, NiSource reported fourth-quarter 2022 EPS of 52 cents, compared with 36 cents reported in the year-ago quarter.
In 2022, earnings per share were $1.47, up 7.3% from the $1.37 reported in 2021.
Earnings per share in 2022 were within the guidance range of $1.44-$1.46.
Total Revenues
Operating revenues of $1,705 million surpassed the Zacks Consensus Estimate of $1,555 million by 9.6%. The top line increased 21% from the prior-year quarter.
In 2022, total revenues were $5,833.7 million, up 19.1% from year-ago level.
NiSource, Inc Price, Consensus and EPS Surprise
NiSource, Inc price-consensus-eps-surprise-chart | NiSource, Inc Quote
Highlights of the Release
Total operating expenses in the fourth quarter amounted to $1,339.1 million, up 19.7% from the year-ago quarter’s $1,118.5 million due to higher energy costs.
The operating income was $362.3 million, up 19.3% from the year-ago quarter’s figure of $303.8 million.
Net interest expenses in the reported quarter were $101.8 million, up 16.2% from the prior-year quarter’s figure of $87.6 million.
Financial Update
NiSource's cash and cash equivalents as of Dec 31, 2022, were $40.8 million, down from $84.2 million as of Dec 31, 2021. NiSource had $1.6 billion in net available liquidity as of Dec 31, 2022.
Long-term debts (excluding amounts due within a year) as of Dec 31, 2022, were $9,523.6 million compared with $9,183.4 million as of Dec 31, 2021.
Net cash flows from operating activities in 2022 were $1,409.4 million compared with $1,217.9 million in 2021.
Guidance
NiSource increased its 2023 non-GAAP net operating earnings guidance to the range of $1.54-$1.60 per share from the earlier range of $1.50-$1.57 per share. The company expects earnings to witness a CAGR of 6-8% from 2021 through 2027.
NiSource expects to invest $15 billion in the 2023-2027 time period and expects its 2023 capital expenditure to be in the range of $3.3-$3.6 billion.
Zacks Rank
NiSource currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. NEE reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%.
The Zacks Consensus Estimate for NEE’s 2023 earnings per share is $3.12, implying year-over-year growth of 7.6%.
Dominion Energy Inc. D reported fourth-quarter 2022 operating earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate of $1.03 per share by 2.9%.
The Zacks Consensus Estimate for Dominion’s 2023 earnings per share is $4.02, suggesting a year-over-year decline of 2.2%.
Xcel Energy Inc. XEL posted fourth-quarter 2022 operating earnings of 69 cents per share, on par with the Zacks Consensus Estimate.
The Zacks Consensus Estimate for XEL’s 2023 earnings per share is $3.37, suggesting year-over-year growth of 6.31%.
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