Business

NiSource beats 1Q profit forecasts

Posted May 03, 2016 7:00 am

The Associated Press

MERRILLVILLE, Ind. (AP) - NiSource Inc. (NI) on Tuesday reported first-quarter earnings of $179.7 million.

On a per-share basis, the Merrillville, Indiana-based company said it had profit of 56 cents. Earnings, adjusted for non-recurring costs, came to 60 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The energy holding company posted revenue of $1.44 billion in the period.

NiSource expects full-year earnings in the range of $1 to $1.10 per share.

NiSource shares are up 33 percent over the past year, according to FactSet.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NI at http://www.zacks.com/ap/NI

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Keywords: NiSource, Earnings Report

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