NiSource (NI) Q1 2026 earnings summary

Executive summary

• Achieved Q1 2026 consolidated adjusted EPS of $1.06, up from $0.98 in Q1 2025, and reaffirmed 2026 EPS guidance of $2.02–$2.07 per share.

• Net income available to common shareholders rose to $510.7M, with adjusted net income at $509.6M, both up year-over-year.

• Major partnerships with Amazon and Alphabet are expected to deliver $1.4B in customer savings and drive significant data center capacity expansion.

• Five-year capital investment plan totals $28.6B, including $21B in base business and $7.6B in GenCo/data center investments.

• Maintained operational excellence, delivering the safest first quarter on record for employee injuries since 2016.

Financial highlights

• Q1 2026 consolidated adjusted EPS rose 8% year-over-year to $1.06, driven by regulatory execution and capital recovery.

• GAAP net income available to common shareholders was $510.7M, up $35.9M year-over-year.

• Total operating revenues for Q1 2026 were $2,363.1M, up from $2,183.2M in Q1 2025.

• Dividend payout ratio target set at 55%–65%; expected average annual total shareholder return of 12%–13% from 2026–2033.

• FFO/Debt target maintained at 14%–16% annually through 2030.

Outlook and guidance

• Reaffirmed 2026 consolidated adjusted EPS guidance of $2.02–$2.07 per share and raised 2026–2033 adjusted EPS CAGR to 9%–10%.

• Base plan adjusted EPS annual growth guidance reaffirmed at 6%–8% for 2026–2030.

• Capital investments for 2026 projected at $5.2–$5.6B, including $1.3–$1.5B for GenCo.

• Annual average customer bill increase projected at less than 5% from 2026–2030.

• Guidance reflects only signed customer contracts; pipeline opportunities are not included.