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NiSource Raises 2024 Earnings Outlook After Blackstone Deal

By Will Feuer


NiSource raised its 2024 adjusted operating earnings guidance after completing its deal to sell a minority stake in a subsidiary to private-equity firm Blackstone.

The Merrillville, Ind.-based utility company reported a fourth-quarter profit of $225.6 million, or 50 cents a share, down from $230.8 million, or 52 cents a share, in the same period a year earlier.

Stripping out one-time items, adjusted operating earnings were 53 cents a share. Analysts surveyed by FactSet were expecting 55 cents a share.

For 2024, the company raised its adjusted operating earnings guidance to $1.70 to $1.74 a share, up from $1.68 to $1.72 a share.

The company said it has closed its deal to sell a minority stake in its Northern Indiana Public Service Company subsidiary to Blackstone in December, bolstering its balance sheet.


Write to Will Feuer at


(END) Dow Jones Newswires

February 21, 2024 06:58 ET (11:58 GMT)

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