NiSource Turns To Profit In Q4; Reaffirms FY Outlook

(RTTNews) - NiSource Inc. (NI) reported that its fourth-quarter net income available to common shareholders was $70.7 million or $0.18 per share, compared to a net loss of $153.0 million or $0.41 per share in the previous year.

Non-GAAP net operating earnings available to common shareholders was $130.1 million or $0.34 per share, compared to $169.6 million or $0.45 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

NiSource reaffirmed its 2021 non-GAAP net operating earnings guidance in the range of $1.28 to $1.36 per share. Analysts expect annual earnings of $1.34 per share. The company expects to make capital investments of $1.9 billion to $2.1 billion in 2021. NiSource continues to expect to grow its net operating earnings per share by 7 to 9% on a compound annual growth rate basis from 2021 through 2024, including near-term annual growth of 5 to 7% through 2023.

NiSource expects to make growth, safety and modernization investments of $1.9 to $2.2 billion annually through 2024, as well as a total of $1.8 billion to $2.0 billion of investments in renewable generation assets. The investments are expected to drive compound annual rate base growth of 10% to 12% through 2024.