MERRILLVILLE, Ind. — NiSource Inc. on Wednesday reported it swung to a loss on the second quarter as results were weighed down by a hefty debt-related charge.
The Merrillville, Indiana-based company said it had a loss of $44.4 million, or 14 cents per share. Results include a charge of $111.5 million for the early extinguishment of higher-coupon long-term debt. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 10 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 10 cents per share.
The energy holding company posted revenue of $990.7 million in the period.
NiSource raised its guidance because of the debt refinancing and now expects full-year earnings in the range of $1.17 to $1.20 per share. Analysts surveyed by FactSet expect $1.18 per share, on average.
NiSource shares have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 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
Keywords: NiSource, Earnings Report