NiSource NI is scheduled to release third-quarter 2024 results on Oct. 30, before market open. The company delivered an earnings surprise of 40% in the last reported quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Key Factors That Might Have Impacted NI's Q3 Performance
Northern Indiana Public Service Company LLC (“NIPSCO”), a subsidiary of NiSource, completed the third solar project in its electric generation fleet. Cavalry Solar came online during the third quarter. It is operating and producing more cost-effective, cleaner energy for homes and businesses. This is likely to boost the upcoming quarterly results.
NIPSCO received approval from the Indiana Utility Regulatory Commission for the new gas rates, effective August 2024. The company’s revenues are likely to have benefited from the new natural gas rates that were implemented during the third as well as previous quarters in its service territories.
The company’s bottom line is expected to have gained from capital programs and flat operation and maintenance expenses.
However, higher depreciation and amortization expenses might have offset some of these positives.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at 15 cents per share, implying a year-over-year decrease of 21.1%.
The Zacks Consensus Estimate for revenues is pinned at $1.12 billion, indicating an increase of 8.7% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model does not 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 not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
NiSource, Inc Price and EPS Surprise
NiSource, Inc price-eps-surprise | NiSource, Inc Quote
Zacks Rank: Currently, NiSource carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
Eversource Energy ES is likely to come up with an earnings beat when it reports third-quarter results on Nov. 4. It has an Earnings ESP of +6.00% and a Zacks Rank #3 at present.
ES’ long-term (three to five years) earnings growth rate is 5.63%. The Zacks Consensus Estimate for earnings is pinned at $1.02 per share.
Pinnacle West Capital PNW is likely to come up with an earnings beat when it reports third-quarter results on Nov. 6. It has an Earnings ESP of +5.49% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for third-quarter earnings is pinned at $3.33 per share. The Zacks Consensus Estimate for sales is pegged at $1.68 billion, which implies a year-over-year increase of 2.4%.
Pampa Energia S.A. PAM is likely to come up with an earnings beat when it reports third-quarter results on Nov. 6. It has an Earnings ESP of +18.36% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for earnings has moved up 52.5% in the past 90 days. The Zacks Consensus Estimate for sales is pegged at $546.05 million, which implies a year-over-year increase of 15.2%.
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See Stocks Now >>NiSource, Inc (NI) : Free Stock Analysis Report
Pinnacle West Capital Corporation (PNW) : Free Stock Analysis Report
Pampa Energia S.A. (PAM) : Free Stock Analysis Report
Eversource Energy (ES) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
