NiSource Narrows 2026 EPS Guidance, Introduces 2027 Outlook and $40B Capital Plan Through 2033
NI sits 16% above its 52-week low of $38.42.
Summary
NiSource reported Q3 adjusted EPS of $0.27 and narrowed 2026 guidance to the upper half of $2.02-$2.07, while introducing 2027 guidance of $2.22-$2.30 and extending its capital plan through 2033 at $40.0 billion.
Key Events · Earnings and Guidance · NI
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Q3 Earnings and Narrowed 2026 Guidance
Q3 GAAP net income available to common shareholders was $129.5 million, or $0.27 per diluted share, versus $94.7 million, or $0.20, a year earlier. Adjusted EPS was $0.27, and 2026 non-GAAP consolidated adjusted EPS guidance was narrowed to the upper half of $2.02-$2.07.
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2027 Guidance Introduced
NiSource introduced 2027 non-GAAP consolidated adjusted EPS guidance of $2.22-$2.30.
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$40 Billion Capital Plan Through 2033
The capital plan was extended through 2033 with $40.0 billion of seven-year total capital expenditures — $32.0 billion base plan plus $8.0 billion for data center investments — supporting 9%-10% consolidated investment base growth from 2027-2033.
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Growth Rate Raised to 10%-11%
Consolidated non-GAAP adjusted EPS CAGR guidance was raised to 10%-11% for 2027-2033, with base plan adjusted EPS growth of 6%-8% annually and 8%-10% rate base growth over the same period.
Analysis · NI · Energy & Transportation
The forward disclosures are the substance here; the quarter itself was modest, with Q3 GAAP EPS of $0.27 versus $0.20 a year ago. NiSource narrowed 2026 adjusted EPS to the upper half of $2.02-$2.07, set 2027 at $2.22-$2.30, and extended its capital plan through 2033 at $40.0 billion, split between $32.0 billion of base-plan spending and $8.0 billion for data centers. Management also raised the consolidated adjusted EPS growth rate to 10%-11% for 2027-2033 and lifted expected customer savings from the GenCo agreements to roughly $1.75 billion through a new Microsoft agreement. For a regulated utility, a longer and larger capital plan is the growth engine — it drives rate base and earnings — but it also means recurring external financing needs, which is why the size of the plan matters as much as the EPS ranges.
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At the time of this filing, NI was trading at $44.44 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $20.9B. The 52-week trading range was $38.42 to $49.21. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.