What You Need To Know Ahead of NiSource's Earnings Release

Valued at a market cap of $15.7 billion, NiSource Inc. (NI) provides regulated natural gas and electricity services. It manages approximately 55,000 miles of gas distribution pipelines, and 1,000 miles of transmission pipelines, and generates electricity from Indiana's coal, natural gas, hydro, wind, and solar assets. The Merrillville, Indiana-based company is expected to announce its Q3 earnings before the market opens on Wednesday, Oct. 30.

Ahead of the event, analysts expect the energy holding company to report a profit of $0.15 per share, down 21.1% from $0.19 per share reported in the year-ago quarter. However, the company has surpassed Wall Street’s EPS projections in the past four quarters. NI exceeded the consensus EPS estimates by 40% in the last reported quarter.

In fiscal 2024, analysts expect NiSource to report an EPS of $1.72, up 7.5% from $1.60 in fiscal 2023. 

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NI stock is up 31.6% on a YTD basis, outperforming the S&P 500 Index’s ($SPX) 22.7% gains and the Utilities Select Sector SPDR Fund's (XLU) 27.9% return over the same period.

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Shares of NiSource rose marginally on Aug. 7, primarily as the company reported stronger-than-expected Q2 adjusted EPS of $0.21. The decrease in total operating expenses by 8% year-over-year, falling to $847.7 million due to lower energy costs, also contributed to investor optimism. Furthermore, the significant 40.3% increase in operating income to $237 million and reaffirming its 2024 non-GAAP earnings guidance of $1.70 to $1.74 per share aligned with market expectations, which enhanced confidence in the company’s financial outlook. 

The consensus opinion on NiSource stock is bullish, with 13 analysts recommending an overall “Strong Buy” rating. This consensus is more bullish than three months ago when 11 analysts suggested a “Strong Buy.” Currently, NI is trading below the average analyst price target of $35.96.  

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On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.