NiSource Guides 2027 Earnings To $2.22-$2.30 A Share And Stretches Its Capital Plan To $40 Billion
The utility extended its growth plan through 2033, with $8.0 billion earmarked for data centers, and raised its long-term EPS growth target to 10%-11%.
NiSource, the gas and electric utility holding company, expects 2027 adjusted earnings of $2.22 to $2.30 per share and extended its capital plan through 2033 to $40.0 billion, the company said in an 8-K filed Wednesday with third-quarter results. It also raised its long-term earnings growth target and widened the customer savings tied to a new Microsoft agreement.
A seven-year, $40 billion plan
The new plan covers 2027 through 2033. Of the $40.0 billion, $32.0 billion is base plan spending and $8.0 billion is for data center investments.
NiSource now expects consolidated adjusted EPS to grow at a compound annual rate of 10%-11% over 2027-2033, and consolidated investment base growth of 9%-10%. The base plan alone, which excludes data center operations, is expected to deliver adjusted EPS growth of 6%-8% a year, with rate base growth of 8%-10%. Rate base is the asset value on which regulators let a utility earn a return.
CEO Lloyd Yates said the signed GenCo agreements are expected to deliver about $1.75 billion in customer savings. The company is expanding those savings for existing customers through a new agreement with Microsoft.
Third quarter profit rises
Net income available to common shareholders was $129.5 million, or $0.27 per diluted share, against $94.7 million, or $0.20, a year earlier. Adjusted EPS, which strips out items such as weather, was $0.27 versus $0.19.
For the first nine months of 2026, adjusted EPS was $1.49, up from $1.38 a year earlier. Standard-accounting EPS for the nine months was $1.42, flat with 2025.
Adjustments this year included $21.4 million of costs to support operations during the April 2026 lockout at NIPSCO, and $11.4 million tied to the company's Value Captured initiative, both for the nine months.
Where the business stands
NiSource serves about 3.8 million customers in six states, according to its annual report. Its Columbia Operations unit delivers gas in Ohio, Pennsylvania, Virginia, Kentucky and Maryland, while NIPSCO distributes gas and generates electricity in northern Indiana, including customized service for data center customers.
For 2026, the company narrowed its adjusted EPS guidance to the upper half of $2.02-$2.07.
Yates said this year's extreme weather reinforced the importance of the investments, and that the Microsoft deal and the GenCo pipeline strengthen the outlook.
Sources
- 8-K Filing — NISOURCE INC. (NI) — SEC EDGAR
- Exhibit ni-ex991_20260930.htm — NISOURCE INC. 8-K exhibit — SEC EDGAR
- NiSource Announces Third Quarter Results – Company Announcement - FT.com — Financial Times
