NiSource (NI) Misses on Q2 Earnings

NI shares were down 1% Monday afternoon

NiSource (NI) shares were down on Monday following missed earnings for Q2 2015.

nisource-earnings-ni
Source: NiSource

NiSource reported net income of $56.8 million, or 18 cents per share, for the second quarter of 2015. This was down from the $77.9 million, or 25 cents per share, that was reported during the second quarter of 2014. It also failed to meet Wall Street’s estimates of 22 cents per share.

NiSource attributed its lowered net income in Q2 2015 to long-term debt and other issues with Columbia Pipeline Group. However, it was able to successfully split from the company, which is now publicly traded as “CPGX” on the New York Stock Exchange.

NiSource reported that it’s still planning for earnings per shares to fall between $1.00 to $1.10 for fiscal 2016. It also expects infrastructure enhancement investments to reach $1.4 billion in this time.

NI shares were down 1% as of Monday afternoon.

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