NiSource Narrows FY22 Adj. EPS Outlook Range; Q3 Adj. EPS Misses Estimates

(RTTNews) - While reporting financial results for the third quarter on Wednesday, electric utility NiSource Inc. (NI) narrowed its adjusted net operating earnings guidance range for the full-year 2022 and initiated outlook for the full-year 2023.

For fiscal 2022, the company now projects adjusted net operating earnings in a range of $1.44 to $1.46 per share, narrower than the prior guidance range of $1.42 to $1.48 per share.

On average, 14 analysts polled by Thomson Reuters expect the company to report earnings of $1.45 per share for the year. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects adjusted net operating earnings in a range of $1.50 to $1.57 per share, consistent with its previous 5 to 7 percent annual growth commitment. The Street is currently looking for earnings of $1.55 per share for the year.

For the third quarter, net income available to common shareholders was $52.0 million or $0.12 per share, compared to $49.4 million or $0.12 per share in the prior-year quarter.

Excluding items, adjusted net operating earnings for the quarter were $0.10 per share, compared to $0.11 per share in the year.-ago quarter. Analysts expected earnings of $0.11 per share for the quarter.

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