NI · NiSource Inc.

NiSource Inc. delivered robust first quarter 2026 results, with GAAP net income available to common shareholders rising to $510.7 million or $1.06 per diluted share, up from $474.8 million or $1.00 in the prior year period. Non-GAAP adjusted net income was $509.6 million or $1.06 consolidated adjusted EPS, compared to $462.3 million or $0.98 last year. The reconciliation in Schedule 1 attributes the difference primarily to weather impacts, with a $3.7 million positive adjustment in 2026 versus a $16.8 million negative in 2025, net of tax and a preferred dividends redemption premium. President and CEO Lloyd Yates highlighted a strong start, crediting the GenCo model and collaborations with Alphabet and Amazon, which expanded cost savings to approximately $1.4 billion for existing customers, driving economic development in Indiana, grid strengthening, and reliable service for growing energy demand. The company reaffirmed its 2026 non-GAAP consolidated adjusted EPS guidance of $2.02-$2.07, implying about 8% year-over-year growth at the midpoint, and raised its 2026-2033 CAGR to 9%-10%. Non-GAAP measures like consolidated adjusted EPS now incorporate data center operations separately from base plan adjusted EPS to reflect distinct growth profiles, providing transparency into utility core versus high-growth data center activities. This guidance excludes unpredictable GAAP factors like weather and impairments. NiSource, serving 3.3 million gas and 500,000 electric customers across six states, emphasizes its strategy execution amid data center demand.