Merrillville-based NiSource Inc. (NYSE: NI) is reporting a full-year net loss of $72.7 million in 2020, compared to net income of $327 million the previous year. Despite the drop, Chief Executive Officer Joe Hamrock says the utility expects continued infrastructure and generation investments to drive growth over the next several years.
The company is also reporting fourth quarter net income of nearly $71 million, compared to a loss of $153 million during the same period in 2019.
“Our 2020 financial and operational results reflect the resiliency of the business, and we continued to execute on our safety and asset modernization programs as well as our electric generation transition strategy,” said NiSource President and Chief Executive Officer Joe Hamrock.
The company marked several milestones last year, including the completion of two wind power projects in Indiana. It also completed the sale of Columbia Gas of Massachusetts to Boston-based Eversource Energy (NYSE: ES).
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