NiSource Reports 28% Revenue Growth to $2.183 Billion in Latest Quarter

NiSource Inc. reported significant financial growth in its latest quarterly results, with total operating revenues reaching $2.183 billion for the three months ended March 31, 2025, compared to $1.706 billion in the same period last year, marking an increase of 28%. The company's net income also saw a substantial rise, climbing to $526.7 million from $400.3 million year-over-year. This resulted in earnings per share of $1.01, up from $0.77 in the prior year, reflecting a 31% increase in profitability.

The increase in revenues was primarily driven by higher customer demand and new rates from regulatory capital programs. Customer revenues rose to $2.149 billion, up from $1.643 billion, with notable contributions from both the Columbia and NIPSCO operations segments. Operating expenses also increased, totaling $1.424 billion, up from $1.123 billion, largely due to higher costs of energy and operational expenses associated with the expanded customer base and infrastructure investments.

Strategically, NiSource has been focusing on enhancing its energy transition initiatives, including the retirement of coal-fired generation and the development of renewable energy projects. As of March 31, 2025, the company has placed into service renewable and storage projects with a combined capacity of 1,500 MW. Additionally, NiSource is advancing its infrastructure modernization programs, which are expected to improve safety and reliability while reducing greenhouse gas emissions.

Operationally, NiSource reported an increase in customer counts, with Columbia Operations serving approximately 2.426 million customers, up from 2.414 million a year earlier. NIPSCO also saw growth in its customer base, with 872,626 gas customers and 493,456 electric customers as of the end of March 2025. The company continues to invest in its infrastructure, with capital expenditures projected between $4.0 billion and $4.3 billion for 2025, aimed at supporting its ongoing energy transition and modernization efforts.

Looking ahead, NiSource remains optimistic about its growth trajectory, emphasizing its commitment to sustainable energy solutions and infrastructure investments. The company is actively monitoring regulatory developments and market conditions that could impact its operations and financial performance, while also focusing on enhancing customer service and operational efficiency.