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
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