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NiSource (NI) to Report Q3 Earnings: What's in the Cards?
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NiSource Inc. (NI - Free Report) is scheduled to release third-quarter 2023 earnings on Nov 1, before the market opens. In the last reported quarter, the company reported a negative earnings surprise of 15.4%.
Factors to Note
NiSource’s third-quarter earnings are likely to have benefited from the new electric and gas rates and the capital investment programs. The company’s cost-saving initiatives and lower operation and maintenance (O&M) expenses are expected to have boosted the company’s margins.
NiSource’s third-quarter earnings are likely to have been affected by high interest rates and fluctuations in the price of energy commodities.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 14 cents per share, indicating an increase of 40% from the year-ago reported figure. The consensus mark for revenues is pegged at $1.06 billion, indicating a year-over-year decrease of 3%.
The Zacks Consensus Estimate for revenues from electric operations is pegged at $443.44 million, down 14.1% from the year-ago quarter figure. The Zacks Consensus Estimate for revenues from gas distribution operations stands at $614.88 million, up 6.8% from the previous-year quarter figure.
What Our Quantitative Model Predicts
Our proven model does predict an earnings beat for NiSource this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below. You can see the complete list of today's Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +18.52%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NiSource carries a Zacks Rank #2.
Other Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Consolidated Edison Inc. (ED - Free Report) is set to report third-quarter 2023 results on Nov 2, after the market closes. It has an Earnings ESP of +3.77% and a Zacks Rank of 2, at present.
Entergy Corp. (ETR - Free Report) is set to report third-quarter 2023 results on Nov 1 before the market opens. It has an Earnings ESP of +0.36% and a Zacks Rank of 3, at present.
TransAlta Corp. (TAC - Free Report) is set to report third-quarter 2023 results on Nov 7, before the market opens. It has an Earnings ESP of +15.39% and a Zacks Rank of 3.
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NiSource (NI) to Report Q3 Earnings: What's in the Cards?
NiSource Inc. (NI - Free Report) is scheduled to release third-quarter 2023 earnings on Nov 1, before the market opens. In the last reported quarter, the company reported a negative earnings surprise of 15.4%.
Factors to Note
NiSource’s third-quarter earnings are likely to have benefited from the new electric and gas rates and the capital investment programs. The company’s cost-saving initiatives and lower operation and maintenance (O&M) expenses are expected to have boosted the company’s margins.
NiSource’s third-quarter earnings are likely to have been affected by high interest rates and fluctuations in the price of energy commodities.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 14 cents per share, indicating an increase of 40% from the year-ago reported figure. The consensus mark for revenues is pegged at $1.06 billion, indicating a year-over-year decrease of 3%.
The Zacks Consensus Estimate for revenues from electric operations is pegged at $443.44 million, down 14.1% from the year-ago quarter figure. The Zacks Consensus Estimate for revenues from gas distribution operations stands at $614.88 million, up 6.8% from the previous-year quarter figure.
What Our Quantitative Model Predicts
Our proven model does predict an earnings beat for NiSource this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below. You can see the complete list of today's Zacks #1 Rank stocks here.
NiSource, Inc Price and EPS Surprise
NiSource, Inc price-eps-surprise | NiSource, Inc Quote
Earnings ESP: The company’s Earnings ESP is +18.52%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NiSource carries a Zacks Rank #2.
Other Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Consolidated Edison Inc. (ED - Free Report) is set to report third-quarter 2023 results on Nov 2, after the market closes. It has an Earnings ESP of +3.77% and a Zacks Rank of 2, at present.
Entergy Corp. (ETR - Free Report) is set to report third-quarter 2023 results on Nov 1 before the market opens. It has an Earnings ESP of +0.36% and a Zacks Rank of 3, at present.
TransAlta Corp. (TAC - Free Report) is set to report third-quarter 2023 results on Nov 7, before the market opens. It has an Earnings ESP of +15.39% and a Zacks Rank of 3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.