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Mar 31, 2020
Nisource Q1 2020 Earnings Report
NiSource reported first quarter results, with financial results minimally affected by COVID-19 and a lowered 2020 CapEx.
Key Takeaways
NiSource reported a GAAP net income of $61.8 million, or $0.16 per share, and non-GAAP net operating earnings of $290.9 million, or $0.76 per share. The company lowered its 2020 capital investment plan by $100 million due to COVID-19.
Company focuses on maintaining essential utility service during COVID-19 pandemic.
First quarter financial results minimally affected by COVID-19; company lowers 2020 CapEx by $100 million.
Safety Management System (SMS) implementation, pipeline safety enhancements remain a top priority.
Electric generation strategy continues to advance.
Forward Guidance
NiSource expects decreased sales volumes to commercial and industrial customers, increased bad debt expenses, and sustained customer attrition due to COVID-19.
Challenges Ahead
- Decreased sales volumes to commercial and industrial customers
- Increased bad debt expenses
- Sustained customer attrition
- Potential impact on availability of contractor labor
- Potential impact on materials and supplies
Historical Earnings Impact
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Avg. Return Before/After Earnings
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