(RTTNews) - While reporting financial results for the second quarter on Wednesday, electric utility NiSource Inc. (NI) did not provide outlook for the full-year 2020, but initiated adjusted net operating earnings guidance for the full-year 2021.
For fiscal 2021, company now projects adjusted net operating earnings in the range of $1.28 to $1.36 per share.
On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $1.37 per share for the year. Analysts' estimates typically exclude special items.
The guidance reflects management's expectations about initial cost savings to be achieved through the strategic initiative and includes the base case scenario impacts of COVID-19.
This guidance establishes the starting point for the long-term plan that will extend through 2024 with an expected rate base compound annual growth rate (CAGR) of 10 to 12 percent.
This rate base growth is also expected to drive earnings per share growth in excess of the previous by 5 to 7 percent annual growth commitment, with a shift to a CAGR due to the timing of investments in the company's renewable generation portfolio.
Despite challenges related to the pandemic, NiSource continues to expect to make $1.7 to $1.8 billion in capital investments in 2020.
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