NiSource (NI) Beats Q2 Earnings Estimates

Core Insights - NiSource (NI) reported quarterly earnings of $0.21 per share, exceeding the Zacks Consensus Estimate of $0.15 per share, and showing an increase from $0.11 per share a year ago, representing a 40% earnings surprise [1] - The company posted revenues of $1.08 billion for the quarter ended June 2024, which was 6.83% below the Zacks Consensus Estimate and slightly down from $1.09 billion year-over-year [2] - NiSource has consistently surpassed consensus EPS estimates over the last four quarters, but has not beaten revenue estimates during the same period [2] Company Performance - NiSource shares have increased approximately 16.5% since the beginning of the year, outperforming the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.15 on revenues of $1.11 billion, while the estimate for the current fiscal year is $1.72 on revenues of $5.48 billion [7] Industry Outlook - The Utility - Electric Power industry, to which NiSource belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact NiSource's stock performance [5][6]