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Jun 30, 2021
Nisource Q2 2021 Earnings Report
Reported second quarter results, remaining on track to achieve 2021 guidance and long-term EPS growth rates.
Key Takeaways
NiSource reported GAAP net income available to common shareholders of $46.5 million, or $0.11 diluted earnings per share, for the three months ended June 30, 2021. The company remains on track to achieve its 2021 non-GAAP diluted net operating earnings guidance of $1.32 to $1.36 per share.
Renewable generation transition remains ahead of original schedule with planned retirements, and now has Indiana regulatory approval of all renewable joint venture projects included in its estimated $2 billion investment
Safety, asset modernization and customer affordability remain top priorities
NiSource remains on track to achieve 2021 guidance and long-term EPS growth rates
The Safety Management System (SMS) continues to mature as the core operating model within NiSource, focusing on culture, asset management and process safety.
Forward Guidance
NiSource remains on track to achieve its 2021 non-GAAP diluted net operating earnings guidance of $1.32 to $1.36 per share. The company expects to make capital investments of $1.9 billion to $2.1 billion in 2021.
Positive Outlook
- Implemented a Management of Change process to reduce unplanned or intended risks and add layers of protection
- Accelerated integration of contractors into safety plans
- Expanded deployment of Picarro advanced leak detection technology that will provide additional data for risk-informed decision making
- NIPSCO has received renewable energy project approvals from the Indiana Utility Regulatory Commission (IURC) for all joint-venture projects included in its estimated $2 billion investment, as well as 5 of the 6 power purchase agreements (PPAs) announced in its electric generation transition.
- Two renewables projects have entered service, and the Indiana Crossroads wind project is expected to be completed in the fourth quarter of 2021.
Challenges Ahead
- Potential incidents and other operating risks associated with our business
- Impacts related to our aging infrastructure
Historical Earnings Impact
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Avg. Return Before/After Earnings
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