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Jun 30, 2020
Nisource Q2 2020 Earnings Report
NiSource reported second quarter 2020 results, mitigated COVID-19 impacts, reaffirmed 2020 CapEx, remained on track with Columbia Gas of Massachusetts sale, launched a new strategic initiative, and initiated 2021 non-GAAP net operating earnings per share guidance.
Key Takeaways
NiSource Inc. reported a GAAP net loss available to common shareholders of $18.5 million, or $0.05 per share, for the three months ended June 30, 2020. The company also reported net operating earnings available to common shareholders (non-GAAP) of $50.2 million, or $0.13 per share, for the same period.
Mitigation efforts continue to reduce financial impacts of COVID-19
2020 CapEx reaffirmed at $1.7 to $1.8 billion
Columbia Gas of Massachusetts sale remains on track
New corporate-wide strategic initiative launched to enhance long-term performance, value
Nisource
Nisource
Forward Guidance
NiSource initiated 2021 non-GAAP net operating earnings guidance in the range of $1.28 to $1.36 per share and expects a rate base compound annual growth rate (CAGR) of 10% to 12%.
Positive Outlook
- Continuation of the approximately $1.8 to $1.9 billion annual capital investment into ongoing utility safety and infrastructure programs.
- Anticipated incremental capital investment opportunities related to its electric generation strategy of approximately $1.8 to $2.0 billion, primarily in 2022 and 2023.
- Driving a renewable portfolio that retires 80% of coal-fired generation by 2023, and retires all coal-fired generation by 2028.
- The replacement plan is expected to provide an industry leading 90% reduction in greenhouse gas emissions by 2030 compared to 2005 levels.
- Additional aspects and progress on the corporate strategic initiative highlighted above.