NiSource Inc. Reports 18.3% Revenue Growth to $1.283 Billion in Q2 2025

NiSource Inc. reported significant financial performance for the second quarter of 2025, with total operating revenues reaching $1.283 billion, a 18.3% increase from $1.085 billion in the same quarter of 2024. The company's net income attributable to NiSource was $102.2 million, up from $85.8 million year-over-year, resulting in basic and diluted earnings per share of $0.22, compared to $0.19 in the prior year. For the first half of 2025, total operating revenues were $3.466 billion, a 24.2% increase from $2.791 billion in the first half of 2024, while net income rose to $577 million from $450.8 million.

The increase in revenues was primarily driven by higher customer revenues, which rose to $1.247 billion from $1.054 billion in the previous year, reflecting the impact of capital investments and regulatory rate adjustments. Operating expenses also increased, totaling $1.020 billion for the quarter, compared to $847.7 million in the prior year, largely due to higher costs of energy and operational expenses. The company reported an operating income of $262.9 million, up from $237 million in the same quarter of 2024.

In terms of strategic developments, NiSource has been actively pursuing its energy transition strategy, focusing on retiring coal-fired generation and investing in renewable energy projects. As of June 30, 2025, the company had placed in service renewable and storage projects with a combined capacity of 1,750 MW. Additionally, NiSource is advancing its infrastructure modernization programs, which are expected to enhance safety and reliability while reducing greenhouse gas emissions.

Operationally, NiSource's customer base has expanded, with Columbia Operations serving approximately 2.41 million customers and NIPSCO Operations serving around 494,364 customers as of June 30, 2025. The company has also seen an increase in customer engagement metrics, with residential and commercial customer usage rising due to colder weather conditions. The company continues to monitor market conditions and regulatory changes that may impact its operations and financial performance.

Looking ahead, NiSource remains focused on its long-term growth strategy, which includes significant capital investments projected between $4.0 billion and $4.3 billion for 2025. The company is also evaluating the potential impacts of federal and state regulations on its operations, particularly in relation to its net zero greenhouse gas emissions goal by 2040. Management anticipates that ongoing investments in renewable energy and infrastructure will position the company favorably in the evolving energy landscape.