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 Will.Feuer@wsj.com
(END) Dow Jones Newswires
February 21, 2024 06:58 ET (11:58 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening in the Markets This Week
-
4 Top Dividend-Paying REIT Stock Picks
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
P-CAPE: A Better Way for Investors to Estimate Future Returns
-
Which Stocks Have Driven the Stealth Large-Value Rally?
-
Forecasts for Q2 GDP Report Show a Healthy but Slowing Economy
-
5 Stocks to Buy as the Market Rally Broadens
-
4 Top US Travel Stock Picks
-
How Do Interest Rates Affect Stock Market Returns?
-
American Airlines Earnings: Ticket Distribution Misstep Affected Results
-
Going Into Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
3 Top Cybersecurity Stock Picks for Long-Term Investors
-
AbbVie Earnings: Firm Sees Strong Next-Generation Immunology Drugs Sales
-
Ford Earnings: Warranty Problems on Older Vehicles Slam Results
-
ServiceNow Earnings: Operating on a Higher Plane Within Enterprise Software