What caused NI's earnings surprises in 2024?

NiSource Inc. (NI) experienced an earnings surprise of $0.02 in 2024, which can be attributed to several key factors: 1. **Revenue Beat**: NiSource reported revenue that surpassed expectations, despite a slight decline in earnings per share (EPS). This indicates that the company's top-line performance exceeded analysts' forecasts, contributing to the overall earnings surprise. 2. **Strategic Investments**: The company has been actively making strategic investments, with capital expenditures amounting to $6.9 billion in 2024. These investments are likely to have boosted NiSource's operational efficiency and future growth prospects, indirectly contributing to the earnings surprise. 3. **Cost Management**: NiSource's focus on cost management has likely played a role in enhancing profitability. For instance, the company has been working on a long-term utility infrastructure modernization program, which could have optimized costs and improved margins. In summary, NiSource's earnings surprise in 2024 can be attributed to a combination of revenue beat, strategic investments, and effective cost management.