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NiSource raises 2017 earnings guidance after strong Q2 results

NiSource Inc. reported $33.3 million in second-quarter 2017 net operating earnings from continuing operations, , or 10 cents per share, up from $26.6 million, or 8 cents per share, in the comparable quarter of 2016.

The result met the S&P Capital IQ consensus estimate for normalized EPS of 10 cents.

The company now expects to deliver net operating EPS in 2017 of $1.17 to $1.20, according to an Aug. 2 earnings release.

NiSource's second-quarter 2017 GAAP loss from continuing operations totaled $44.3 million, or 14 cents per share, compared to an income of $29.0 million, or 9 cents per share, in the second quarter of 2016.

A $111.5 million loss on early extinguishment of higher-coupon long-term debt is reflective in the GAAP result. A $990.7 million refinancing will result in significant interest expense savings over the next few years, NiSource said.

The company has scheduled an earnings conference call at 8:30 a.m. ET on Aug. 2 to discuss its results.