NiSource Inc. Reports 8.2% Revenue Growth to $2.36 Billion in Q1 2026

NiSource Inc. reported a significant increase in its financial performance for the first quarter of 2026, with total operating revenues reaching $2.36 billion, up from $2.18 billion in the same period last year, marking an increase of 8.2%. The company's net income attributable to common shareholders also rose to $510.7 million, compared to $474.8 million in the prior year, reflecting a 7.5% increase. Basic and diluted earnings per share improved to $1.06, up from $1.01 and $1.00, respectively, in the first quarter of 2025.

The increase in revenues was primarily driven by higher customer revenues, which rose to $2.32 billion from $2.15 billion, alongside a rise in other revenues. Operating expenses also increased, totaling $1.54 billion compared to $1.42 billion in the previous year, largely due to higher costs of energy and increased operation and maintenance expenses. The company reported an operating income of $819.2 million, up from $759.4 million, indicating a positive trend in profitability despite rising costs.

In terms of strategic developments, NiSource has made significant strides in its data center strategy, including a new agreement with a subsidiary of Alphabet to provide electricity to its data center, which is expected to commence in summer 2026. This contract, pending regulatory approval, will involve a capacity commitment that will increase to 300 MW by 2030. Additionally, amendments to the existing ADS Contract were made to accelerate capacity delivery, further solidifying NiSource's position in the data center market.

Operationally, NiSource reported a customer count increase, with Columbia Operations serving 2.44 million customers and NIPSCO Operations serving 497,171 customers as of March 31, 2026. The company also noted a rise in electric and gas customer counts, contributing to its overall growth. However, the company faced challenges with weather-related impacts on energy consumption, which affected sales volumes, particularly in the residential sector.

Looking ahead, NiSource remains focused on its energy transition strategy, aiming for net-zero greenhouse gas emissions by 2040. The company plans to continue investing in infrastructure improvements and renewable energy projects while navigating regulatory changes and market conditions. The outlook for the remainder of 2026 includes anticipated capital investments of approximately $600 million related to data center contracts and ongoing infrastructure upgrades, positioning NiSource for sustained growth in a rapidly evolving energy landscape.