NiSource reports 4Q loss on hefty tax-related charges
MERRILLVILLE, Ind. (AP) — NiSource Inc. (NI) on Tuesday reported a fourth-quarter loss of $52.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Merrillville, Indiana-based company said it had a loss of 16 cents. Earnings, adjusted for non-recurring costs mainly attributed to the recent sweeping tax overhaul, came to 33 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The energy holding company posted revenue of $1.37 billion in the period.
For the year, the company reported profit of $128.5 million, or 39 cents per share. Revenue was reported as $4.87 billion.
NiSource expects full-year earnings in the range of $1.26 to $1.32 per share.
NiSource shares have decreased 8.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 2 percent.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NI at https://www.zacks.com/ap/NI