NI · 10-Q · 2026Q2 · Full report

Operating Margin Drivers

NISOURCE INC. · 2026-08-05 · Importance 49 · Surprise 32 · In source text

Six-month operating income increased $25.0 million to $1,047.3 million, but operating margin declined to 28.3% from 29.5% because operating expenses grew 8.8% to $2,658.2 million, faster than revenue growth of 6.9%. Columbia Operations six-month operating income increased $7.6 million to $575.6 million despite $71.0 million of additional operating expenses, including $32.4 million of higher depreciation and amortization and $11.3 million of higher outside services. NIPSCO Operations six-month operating income increased $23.0 million to $468.9 million, while expenses rose $137.5 million, led by $76.9 million of higher depreciation and amortization and $30.5 million of workplace-continuity costs.

Key facts

• Consolidated operating income for the six months ended June 30, 2026: $1,047.3 million. source
• Consolidated operating income for the three months ended June 30, 2026: $228.1 million. source
• Columbia Operations operating income for the three months ended June 30, 2026: $103.3 million. source
• NIPSCO Operations operating income for the three months ended June 30, 2026: $120.4 million. source

Impact estimates