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Earnings Call Summary | NiSource(NI.US) Q1 2024 Earnings Conference

Futu News ·  May 9 04:05  · Conference Call

The following is a summary of the NiSource Inc. (NI) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • NiSource reported Q1 2024 adjusted EPS of $0.85, a 10% increase from the $0.77 reported in the same period last year.

  • The company reaffirmed its 2024 adjusted EPS guidance of $1.70 to $1.74.

  • The company has a $16.4 billion base CapEx plan for the next five years, with upside projects worth over $1.5 billion.

  • NiSource's total year-end 2023 rate base of $18.8 billion consists of $9 billion in Indiana, $4 billion in Ohio, $3 billion in Pennsylvania, and over $1 billion in Virginia.

  • The company has pledged to keep customer bill growth at or below 4% during the next five-year period.

Business Progress:

  • NiSource is anticipating strong growth in their system over the next five years due to data centers and reshoring of manufacturing.

  • Both engineering design and process-based solutions have been implemented to improve their gas system safety.

  • NiSource has a multi-year technology investment initiative aimed at improving reliability and cost savings for customers.

  • A rate case has been filed in Pennsylvania and NiSource believes it will not impact the company's financial outcomes negatively.

  • NiSource is actively involved with PHMSA rulemaking, with finalized rules expected by the end of 2024, potentially driving additional capital gains.

More details: NiSource IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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