Earnings summaries and quarterly performance for NISOURCE.
Executive leadership at NISOURCE.
Lloyd Yates
Detailed
President and Chief Executive Officer
CEO
KC
Kimberly Cuccia
Detailed
Executive Vice President, General Counsel and Corporate Secretary
MB
Melody Birmingham
Detailed
Executive Vice President and Group President, Utilities
ML
Michael Luhrs
Detailed
Executive Vice President, Technology, Customer and Chief Commercial Officer
SA
Shawn Anderson
Detailed
Executive Vice President and Chief Financial Officer
WJ
William Jefferson
Detailed
Executive Vice President, Chief Operating and Safety Officer
Board of directors at NISOURCE.
CL
Cassandra Lee
Detailed
Director
DH
Deborah Henretta
Detailed
Director
DH
Deborah Hersman
Detailed
Director
EB
Eric Butler
Detailed
Director
JM
John McAvoy
Detailed
Director
KK
Kevin Kabat
Detailed
Chair of the Board
MJ
Michael Jesanis
Detailed
Director
PA
Peter Altabef
Detailed
Director
SB
Sondra Barbour
Detailed
Director
TB
Theodore Bunting Jr.
Detailed
Director
WJ
William Johnson
Detailed
Director
Research analysts who have asked questions during NISOURCE earnings calls.
Julien Dumoulin-Smith
Jefferies
8 questions for NI
Also covers: AEE, AEP, AES +60 more
Nicholas Campanella
Barclays
8 questions for NI
Also covers: AEE, AEP, AES +33 more
TM
Travis Miller
Morningstar
7 questions for NI
Also covers: CMS, DTE, ES +10 more
Richard Sunderland
JPMorgan Securities LLC
6 questions for NI
Also covers: AES, AQN, ATO +9 more
RL
Ryan Levine
Citigroup
5 questions for NI
Also covers: AEP, AES, ATO +17 more
Steve Fleishman
Wolfe Research, LLC
5 questions for NI
Also covers: AEP, CEG, CNP +15 more
EJ
Eli Jossen
JPMorgan Chase & Co.
4 questions for NI
Also covers: AROC, ATGFF, EE +6 more
PF
Paul Fremont
Ladenburg Thalmann
4 questions for NI
Also covers: AEE, CNP, CPK +18 more
SP
Shahriar Pourreza
Guggenheim Partners
4 questions for NI
Also covers: AEE, AEP, AVA +29 more
Bill Appicelli
UBS
3 questions for NI
Also covers: CNP, ES, ETR +7 more
CJ
Christopher Jeffrey
Mizuho Securities
2 questions for NI
Also covers: ATO, ENLC, OGS +3 more
DC
Durgesh Chopra
Evercore ISI
2 questions for NI
Also covers: AEE, AEP, AES +22 more
Ross Fowler
Bank of America
2 questions for NI
Also covers: AEP, BKH, D +11 more
Steven Fleishman
Wolfe Research
2 questions for NI
Also covers: AEP, CEG, CNP +18 more
William Appicelli
UBS
2 questions for NI
Also covers: AEE, AEP, CMS +10 more
GM
Gabriel Moreen
Mizuho Financial Group, Inc.
1 question for NI
Also covers: AROC, ATO, DKL +16 more
LT
Ladenburg Thalmann Analyst
Ladenburg Thalmann
1 question for NI
MA
Mizuho Analyst
Mizuho Securities
1 question for NI
NA
Nick Amiccuci
Evercore
1 question for NI
NA
Nick Amicucci
Evercore ISI
1 question for NI
Also covers: AROC, BE, FRMI +6 more
SL
Spark Lee
Jefferies
1 question for NI
Also covers: PWR
Recent press releases and 8-K filings for NI.
NiSource reports Q4 2025 earnings and strategic update
NI
Earnings
Guidance Update
New Projects/Investments
- NiSource delivered $0.51 Q4 adjusted EPS and $1.90 full-year adjusted EPS, surpassing 2025 guidance, and reaffirmed 2026 adjusted EPS guidance of $2.02–$2.07.
- Committed $21 billion in base utility CapEx over the next five years plus $6–$7 billion for the Amazon GenCo project through 2032, with $2 billion of additional upside investments.
- Special contract with Amazon in Indiana expected to return $1 billion of savings (≈ $7–$9 per customer per month) upon full ramp; IURC decision anticipated in H1 2026.
- Maintained 16.1% FFO to Debt in 2025 and approved a 7.1% dividend increase for 2026, aligning with a 55–65% payout ratio.
- Secured Pennsylvania rate case approval, gained supportive regulatory measures in Ohio and Indiana, and enter 2026 with no pending rate cases.
Feb 11, 2026, 4:00 PM
NiSource reports Q4 2025 earnings and guidance
NI
Earnings
New Projects/Investments
Guidance Update
- Adjusted EPS of $0.51 in Q4 2025 and $1.90 for the full year; reaffirmed 2026 EPS guidance of $2.02–$2.07
- $21 billion of base utility CapEx planned over five years, $6–$7 billion GenCo investment for the Amazon data center through 2032, plus $2 billion of upside CapEx
- Special contract with Amazon will return $1 billion to NIPSCO customers (~$7–$9/customer/month); zoning approved Feb 2 and IURC decision expected H1 2026
- Received Pennsylvania rate case approval, supportive Ohio legislation, and 7.1% dividend increase for 2026; no pending rate cases in 2026
Feb 11, 2026, 4:00 PM
NiSource reports Q4 2025 results and 2026 outlook
NI
Earnings
Guidance Update
New Projects/Investments
- NiSource reported Q4 2025 adjusted EPS of $0.51 and FY 2025 adjusted EPS of $1.90 (vs. $1.75), and reaffirmed 2026 guidance at $2.02–$2.07 (+8% y/y).
- The company plans $21 billion of base utility CapEx over 2026–2030, including $6–$7 billion for the GenCo Amazon data center project (through 2032) and $2 billion of upside investments.
- Amazon GenCo special contract pending IURC approval in H1 2026 will return $1 billion to NIPSCO customers (~$7–$9/month) upon full ramp.
- Financial strength highlighted by FFO to debt of 16.1% in 2025 (above 14%–16% target) and a 7.1% dividend increase approved for 2026.
- Regulatory wins include Pennsylvania rate case approval (Dec 2025), new utility legislation in Ohio to reduce regulatory lag, and no pending rate cases as of Q4 2025.
Feb 11, 2026, 4:00 PM
NiSource reports Q4 2025 results
NI
Earnings
Guidance Update
New Projects/Investments
- Q4 2025 adjusted EPS of $0.51 (vs. $0.49) and full-year adjusted EPS of $1.90 (vs. $1.75)
- Reaffirmed 2026 consolidated adjusted EPS guidance of $2.02–$2.07 (Base Plan $2.01–$2.05; GenCo $0.01–$0.02)
- Amazon partnership to power 3 GW of GenCo capacity in Northern Indiana, expected to be earnings and cash-flow accretive from 2026
- $28 billion capital investment plan for 2026–2030, targeting 9%–11% rate base CAGR (2026–2033) and 8%–9% EPS CAGR (2026–2033)
- Achieved 16.1% FFO/Debt in 2025, exceeding guidance; targeting 14%–16% annually through 2030
Feb 11, 2026, 4:00 PM
NiSource reports Q4 earnings beat and $28B capex plan
NI
Earnings
Guidance Update
New Projects/Investments
- NiSource posted Q4 EPS of $0.51, narrowly beating estimates, and reported full-year revenue of about $6.5–6.6 billion with net income near $905–930 million (FY EPS of $1.90–1.96).
- Reaffirmed 2026 adjusted EPS guidance of $2.02–2.07 and approved a >7% dividend increase for 2026.
- Unveiled a $21 billion five-year base utility CapEx plan plus $6–7 billion for the Amazon Genco data-center project through 2032, with roughly $1 billion to flow back to Indiana customers pending regulatory approval.
- Highlighted operational gains (over 545,000 smart meters installed), a target to keep annual bill increases under 5%, and a capital-structure plan including $300–500 million of ATM equity and project-level financing.
Feb 11, 2026, 11:53 AM
NiSource announces full-year 2025 earnings and 2026 guidance
NI
Earnings
Guidance Update
New Projects/Investments
- NiSource reported FY 2025 GAAP net income available to common shareholders of $929.5 million, or $1.95 per diluted share, versus $739.7 million, or $1.62 in FY 2024.
- FY 2025 non-GAAP adjusted net income was $905.2 million, or $1.90 per share, compared to $798.6 million, or $1.75 in FY 2024.
- The company reaffirmed its 2026 non-GAAP consolidated adjusted EPS guidance of $2.02–$2.07 and an 8%–9% EPS CAGR through 2033.
- NiSource plans to invest approximately $28 billion from 2026–2030—including $7 billion in data center infrastructure—supporting 9%–11% rate base growth from 2026–2033.
Feb 11, 2026, 11:35 AM
NiSource announces full-year 2025 results
NI
Earnings
Guidance Update
New Projects/Investments
- NiSource reported 2025 GAAP net income of $929.5 million ( $1.95 EPS diluted ) versus $739.7 million ( $1.62 EPS diluted ) in 2024.
- Full-year non-GAAP adjusted net income was $905.2 million with $1.90 adjusted EPS, up from $798.6 million and $1.75 adjusted EPS in 2024.
- Reaffirmed 2026 non-GAAP consolidated adjusted EPS guidance of $2.02–$2.07 per share.
- Plans $28 billion of capital investments over 2026–2030 (including $7 billion for data center infrastructure), targeting 8%–9% EPS CAGR and 9%–11% rate base growth through 2033.
Feb 11, 2026, 11:30 AM
NiSource enters amended revolving credit agreement
NI
Debt Issuance
- On December 11, 2025, NiSource entered into a Seventh Amended and Restated Revolving Credit Agreement, replacing its Sixth Amended and Restated facility dated February 18, 2022.
- The total facility was increased by $650 million to $2.5 billion, and the maturity date was extended from February 18, 2027 to December 11, 2030.
- Capacity for standby letters of credit was raised by $25 million to $175 million.
- Provisions requiring specified ESG performance indicators—potentially affecting the applicable interest rate—were removed.
Dec 11, 2025, 9:20 PM
NiSource issues $1bn 5.750% junior subordinated notes due 2056
NI
Debt Issuance
- On November 3, 2025, NiSource and lead underwriters agreed to offer $1,000,000,000 aggregate principal amount of 5.750% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due July 15, 2056; the sale closed November 7, 2025.
- Notes accrue interest at 5.750% per annum from November 7, 2025 to July 15, 2031, then reset every five years to the Five-year U.S. Treasury Rate plus 2.035%, with a floor of 5.750%, payable semi-annually on January 15 and July 15.
- Issued under the Subordinated Indenture dated May 16, 2024, as supplemented by a Third Supplemental Indenture on November 7, 2025; notes rank junior to all Senior Indebtedness and include provisions allowing NiSource to defer interest payments for up to 20 semi-annual periods and to redeem under specified tax or rating agency events.
- NiSource plans to use net proceeds for general corporate purposes, including capital expenditures, working capital, and repayment of existing indebtedness.
Nov 7, 2025, 9:07 PM
NiSource announces $1.5 billion ATM equity program through 2028
NI
- NiSource launched an “at-the-market” equity offering program to sell up to $1.5 billion of its common stock through December 31, 2028.
- The program engages 11 agents (including Barclays, BMO Capital Markets, BNP Paribas, BofA Securities, Goldman Sachs, J.P. Morgan, Mizuho, Morgan Stanley, MUFG, Scotia Capital and Wells Fargo) for sales and forward sale agreements.
- Proceeds are intended for general corporate purposes, such as capital expenditures, working capital and debt repayment.
- This new program supersedes the prior $900 million ATM offering from February 22, 2024, including approximately $47.5 million unsold under that facility.
Oct 31, 2025, 11:11 AM
Quarterly earnings call transcripts for NISOURCE.
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