Utility company reports Q4 profit and adjusts earnings guidance
- NiSource raises 2024 earnings outlook after Blackstone deal
- Fourth-quarter profit of $225.6 million, down from $230.8 million a year earlier
- Adjusted operating earnings of 53 cents a share, below analysts’ expectations
- 2024 adjusted operating earnings guidance raised to $1.70 to $1.74 a share
- Deal with Blackstone strengthens NiSource’s balance sheet
NiSource, a utility company based in Merrillville, Indiana, has raised its 2024 adjusted operating earnings guidance after completing a deal to sell a minority stake in its subsidiary to private-equity firm Blackstone. The company reported a fourth-quarter profit of $225.6 million, down from $230.8 million in the same period a year earlier. Adjusted operating earnings were 53 cents a share, below analysts’ expectations of 55 cents a share. However, NiSource remains optimistic about its future performance and has raised its 2024 adjusted operating earnings guidance to $1.70 to $1.74 a share, up from $1.68 to $1.72 a share. The deal with Blackstone has also strengthened NiSource’s balance sheet, providing additional financial stability.
Factuality Level: 8
Factuality Justification: The article provides factual information about NiSource raising its 2024 adjusted operating earnings guidance after completing a deal to sell a minority stake to Blackstone. It includes details about the company’s fourth-quarter profit, adjusted operating earnings, and analysts’ expectations. The article does not contain irrelevant information, misleading content, sensationalism, redundancy, or biased opinions. Overall, the article presents the information accurately and objectively.
Noise Level: 3
Noise Justification: The article provides relevant information about NiSource raising its 2024 adjusted operating earnings guidance after completing a deal with Blackstone. It includes details about the company’s fourth-quarter profit, adjusted operating earnings, and analysts’ expectations. The article stays on topic and supports its claims with data. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: NiSource
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses NiSource’s raised earnings guidance and completion of a deal with Blackstone. There is no mention of an extreme event.
Public Companies: NiSource (NI)
Private Companies: Blackstone
Key People: Will Feuer (Author)
Reported publicly:
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