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NiSource (NI) to Report Q2 Earnings: What's in the Cards?
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NiSource Inc. (NI - Free Report) is scheduled to release second-quarter 2024 results on Aug 7 before market open. This utility company delivered an earnings surprise of 4.94% in the last reported quarter.
Let’s discuss the factors that are likely to have affected the upcoming quarterly results.
Factors to Consider
Some of NI’s service territories experienced warmer-than-normal weather conditions during the second quarter. This is likely to have boosted electricity demand from its customers for cooling purposes, which is expected to have contributed favorably to its quarterly revenues.
The company’s revenues are also likely to have benefited from the new natural gas and electric rates that were implemented during the previous quarters in its service territories and capital programs. Flat operation and maintenance expenses are also expected to have boosted earnings.
However, higher interest expenses are likely to have offset some of the positives.
Expectations
The Zacks Consensus Estimate for NI’s second-quarter sales is $1.16 billion, which indicates an increase of 6.8% from the year-ago reported number.
The consensus estimate for earnings is pegged at 15 cents per share, which indicates an increase of 36.4% from the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively 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, which is not the case here, as seen below.
CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter adjusted operating earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 9.09%.
The Zacks Consensus Estimate for 2024 earnings indicates year-over-year growth of 8%. It delivered an average earnings surprise of 6.3% in the trailing four quarters.
The AES Corporation (AES - Free Report) reported second-quarter adjusted operating earnings of 38 cents per share, which surpassed the Zacks Consensus Estimate of 36 cents by 5.56%.
The Zacks Consensus Estimate for 2024 earnings indicates year-over-year growth of 8.5%. It delivered an average earnings surprise of 19.2% in the trailing four quarters.
Upcoming Release
Investors may consider the following player from the same industry, which has the right combination of elements to post an earnings beat this reporting cycle.
Algonquin Power & Utilities Corporation (AQN - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 9. It has an Earnings ESP of +9.09% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $625 million, which indicates a 0.5% decline from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 8 cents per share, indicating flat year-over-year growth.
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NiSource (NI) to Report Q2 Earnings: What's in the Cards?
NiSource Inc. (NI - Free Report) is scheduled to release second-quarter 2024 results on Aug 7 before market open. This utility company delivered an earnings surprise of 4.94% in the last reported quarter.
Let’s discuss the factors that are likely to have affected the upcoming quarterly results.
Factors to Consider
Some of NI’s service territories experienced warmer-than-normal weather conditions during the second quarter. This is likely to have boosted electricity demand from its customers for cooling purposes, which is expected to have contributed favorably to its quarterly revenues.
The company’s revenues are also likely to have benefited from the new natural gas and electric rates that were implemented during the previous quarters in its service territories and capital programs. Flat operation and maintenance expenses are also expected to have boosted earnings.
However, higher interest expenses are likely to have offset some of the positives.
Expectations
The Zacks Consensus Estimate for NI’s second-quarter sales is $1.16 billion, which indicates an increase of 6.8% from the year-ago reported number.
The consensus estimate for earnings is pegged at 15 cents per share, which indicates an increase of 36.4% from the prior-year quarter’s comparable figure.
What Our Model Predicts
Our proven model does not conclusively 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, which is not the case here, as seen below.
NiSource, Inc Price and EPS Surprise
NiSource, Inc price-eps-surprise | NiSource, Inc Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently, carries a Zacks Rank of 2. You can see the complete list of Zacks Rank #1 stocks here.
Recent Releases
CenterPoint Energy, Inc. (CNP - Free Report) reported second-quarter adjusted operating earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 9.09%.
The Zacks Consensus Estimate for 2024 earnings indicates year-over-year growth of 8%. It delivered an average earnings surprise of 6.3% in the trailing four quarters.
The AES Corporation (AES - Free Report) reported second-quarter adjusted operating earnings of 38 cents per share, which surpassed the Zacks Consensus Estimate of 36 cents by 5.56%.
The Zacks Consensus Estimate for 2024 earnings indicates year-over-year growth of 8.5%. It delivered an average earnings surprise of 19.2% in the trailing four quarters.
Upcoming Release
Investors may consider the following player from the same industry, which has the right combination of elements to post an earnings beat this reporting cycle.
Algonquin Power & Utilities Corporation (AQN - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 9. It has an Earnings ESP of +9.09% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for its second-quarter sales is pegged at $625 million, which indicates a 0.5% decline from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 8 cents per share, indicating flat year-over-year growth.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.