NiSource (NI) Q3 2026 Earnings Call: $40 Billion Plan and 10%-11% EPS Growth Target
Source Tradingkey
Key Takeaways
- NiSource reported Q3 2026 consolidated adjusted EPS of $0.27, up from $0.19 a year earlier. Year-to-date adjusted EPS reached $1.49.
- Management narrowed 2026 adjusted EPS guidance to the upper half of its prior $2.02-$2.07 range and initiated 2027 guidance of $2.22-$2.30.
- The company extended its plan through 2033, targeting a 10%-11% consolidated adjusted EPS CAGR from 2027 expectations, supported by a $40 billion seven-year capital plan.
- The capital plan includes $32 billion for the base utility business and approximately $8 billion for GenCo investments supporting data center customers.
- A new 20-year Microsoft agreement expands GenCo’s pooled portfolio by approximately 1,100 MW. Signed data center agreements are expected to provide $1.75 billion in savings to existing NIPSCO Electric customers.
- NiSource expects GenCo to contribute $0.32-$0.40 per share in 2030 and $0.52-$0.68 in 2033, while the base business is targeted to generate 6%-8% annual adjusted EPS growth through 2033.
Key Financial Data
| Metric | Q3 2026 / Updated Outlook | Comparison or Context |
|---|---|---|
| Consolidated adjusted EPS | $0.27 | $0.19 in Q3 2025 |
| Year-to-date adjusted EPS | $1.49 | Through Q3 2026 |
| 2026 adjusted EPS guidance | Upper half of $2.02-$2.07 | Prior range retained as the reference point |
| 2027 adjusted EPS guidance | $2.22-$2.30 | Includes $0.05-$0.09 from GenCo |
| Consolidated adjusted EPS CAGR | 10%-11% | Based on 2027 expectations through 2033 |
| Base business adjusted EPS growth | 6%-8% annually | Through 2033 |
| Seven-year capital plan | $40 billion | $32 billion base plan; about $8 billion GenCo |
| GenCo EPS contribution | $0.32-$0.40 in 2030 | Expected to reach $0.52-$0.68 in 2033 |
| FFO-to-debt target | 14%-16% | Targeted in every year of the plan |
| Near-term maintenance equity | $400 million-$600 million annually | Expected to decline to minimal levels starting in 2032 |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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