NiSource Raises FY24 Adj. EPS Outlook To $1.70 - $1.74 From $1.68 - $1.72 Prior Vs. $1.70 Estimate
Portfolio Pulse from Benzinga Newsdesk
NiSource has increased its forecast for adjusted earnings per share (EPS) for fiscal year 2024 to $1.70 - $1.74, up from the previous range of $1.68 - $1.72. This adjustment is supported by a 5-year, $16 billion capital expenditure plan that is expected to result in an annual rate base growth of 8-10% and an annual non-GAAP net operating earnings per share (NOEPS) growth of 6-8% over the period from 2023 to 2028.
February 21, 2024 | 11:34 am
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NiSource has revised its FY24 adjusted EPS forecast upwards to $1.70 - $1.74, indicating a positive outlook based on its $16 billion capital expenditure plan.
The upward revision in NiSource's EPS forecast for FY24 suggests a positive outlook for the company's financial performance, primarily driven by its significant capital expenditure plan. This plan is expected to fuel rate base and NOEPS growth, which in turn could lead to increased investor confidence and potentially a higher stock price in the short term.
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