Recent Updates — NI

NiSource reported third-quarter GAAP net income of $129.5 million, or $0.27 per diluted share, up from $94.7 million in the prior year period. Non-GAAP adjusted EPS also came in at $0.27, compared to $0.19 a year ago. The company narrowed its 2026 non-GAAP consolidated adjusted EPS guidance to the upper half of the previous $2.02-$2.07 range and introduced 2027 guidance of $2.22-$2.30. Management extended its base plan EPS growth target of 6%-8% annually through 2033 and raised the consolidated expected non-GAAP adjusted EPS compound annual growth rate to 10%-11%. NiSource operates as a regulated utility serving natural gas and electric customers in six states.

NiSource Generation Company LLC, a subsidiary of NiSource Inc., entered into a Battery Storage System Tolling Agreement with Atlas Storage 1 LLC, an indirect subsidiary of AGP Capital Holdings Pte. Ltd. Under the agreement, AGP Group will develop, construct, own, and operate a 600 MWAC / 2,400 MWh stand-alone battery energy storage system interconnected to the Midcontinent Independent System Operator (MISO) grid. NiSource Generation Company LLC will supply electricity for the project at its expense and pay approximately $2.2 billion in aggregate storage payments over an expected twenty-five-year delivery term commencing by December 1, 2027. The agreement is conditioned on AGP Group securing satisfactory engineering contracts by January 31, 2027, and will be accounted for as a finance lease obligation. NiSource Inc. operates in the energy sector, providing natural gas and electric utility services.

NiSource Inc. closed a $750 million offering of 6.250% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 on August 18, 2026. The debt bears interest semi-annually at 6.250% until April 15, 2032, after which the rate resets to the five-year U.S. Treasury rate plus a spread of 1.930%, with a floor of 6.250%. Proceeds are intended for general corporate purposes, including financing capital expenditures and repaying existing indebtedness. NiSource Inc. operates in the utility industry, providing natural gas distribution services.

NiSource Inc. reported financial results for the quarter and six months ended June 30, 2026. GAAP net income available to common shareholders was $45.5 million ($0.09 diluted EPS) for Q2 2026, down from $102.2 million ($0.22 diluted EPS) in the prior year period. For the first half of 2026, GAAP net income was $556.2 million ($1.15 diluted EPS), compared to $577.0 million ($1.22 diluted EPS) in 2025. Non-GAAP consolidated adjusted EPS was $0.16 for Q2 and $1.22 for the six-month period, up from $0.22 and $1.19 respectively in 2025. The company reaffirmed its 2026 non-GAAP consolidated adjusted EPS guidance of $2.02-$2.07 and a 9%-10% compound annual growth rate target for 2026-2033. NiSource operates as a regulated utility providing natural gas and electric services to approximately 3.3 million natural gas customers and 500,000 electric customers across six states.