NiSource announces first quarter 2023 results.
MERRILLVILLE, Ind: NiSource Inc. (NYSE: NI) today announced, on a GAAP basis, net income available to common shareholders for the three months ended March 31, 2023, of $319.2 million, or $0.71 diluted earnings per share, compared to net income available to common shareholders of $413.0 million, or $0.94 diluted earnings per share, for the same period of 2022.
NiSource also reported first quarter 2023 non-GAAP net operating earnings available to common shareholders of $343.0 million, or $0.77 diluted earnings per share compared to non-GAAP net operating earnings available to common shareholders of $328.7 million, or $0.75 diluted earnings per share, for the first quarter of 2022. Schedule 1 of this press release contains a complete reconciliation of GAAP measures to non-GAAP measures.
The Company reaffirms its non-GAAP NOEPS guidance of $1.54 to $1.60 in 2023 and growth of 6- 8% through 2027. Annual rate base growth of 8-10% is driven by $15 billion of capital expenditures during the 2023-27 period.
"NiSource remains committed to delivering on our top-tier EPS growth plan," said NiSource President and CEO Lloyd Yates. "The settlement filed in NIPSCO's electric rate case is another example of the team's continued regulatory execution with balanced outcomes for stakeholders, and the sale of the NIPSCO minority interest remains on track for 2023. I'd also like to recognize our dedicated employees and contractors who worked tirelessly to ensure our communities received safe and reliable energy...
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