NiSource Reaffirms 2023 NOEPS Guidance; Introduces 2024 NOEPS Outlook

(RTTNews) - NiSource Inc. (NI) reiterated 2023 non-GAAP NOEPS to be in the upper half of the $1.54-1.60 range. In 2024, the company expects non-GAAP NOEPS to be in the range of $1.68-1.72.

NiSource is also extending its plan to 2028 with non-GAAP NOEPS growth expected to be 6-8% annually, driven by $16 billion 2024-28 base plan capital expenditures and 8-10% annual 2023-28 rate base growth. The company noted that this increases the capital expenditures projected over the next 5-year window by $1 billion.

Third quarter bottom line totaled $77.0 million, or $0.17 per share compared with $52.0 million, or $0.12 per share, in last year's third quarter. Non-GAAP net operating earnings available to shareholders was $83.7 million, or $0.19 per share, compared to $44.6 million, or $0.10 per share, for the same period of 2022. Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

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