NI · 10-Q · 2026Q2

NISOURCE INC.

Filed 2026-08-05 · Utilities · View original filing on EDGAR

Ranked Events

• GHG Regulation ChangesImportance 64 · Surprise 42
  The EPA proposed repealing the May 2024 greenhouse-gas standards for fossil fuel-fired power plants, including capacity-factor thresholds and carbon-capture requirements. If finalized, the repeal would remove…
• Rate Case OutcomesImportance 64 · Surprise 42
  NIPSCO Electric received approval for $257.0 million of incremental revenue at a 9.75% approved ROE, with rates implemented in steps through March 2026. NIPSCO Gas received approval for $120.9 million of incremental…
• Data Center Infrastructure InvestmentImportance 64 · Surprise 42
  NiSource estimates the aggregate cost of Contract Assets and Pool Resource Assets supporting existing data center customers at $9.25 billion to $9.75 billion. The company expects to invest approximately $600 million…
• Data Center StrategyImportance 58 · Surprise 42
  NiSource reports strong demand from potential data center customers in its northern Indiana service territory and is negotiating with additional counterparties. GenCo is developing a new combined-cycle natural…
• Regulated Capital Investment PlanImportance 56 · Surprise 24
  NiSource continues electric-grid modernization and gas-infrastructure replacement programs across five operating states to improve safety, reliability, and reduce greenhouse-gas emissions. Approved programs include…
• Liquidity and Debt PositionImportance 55 · Surprise 32
  Net available liquidity increased to $2,098.0 million at June 30, 2026 from $2,024.1 million at December 31, 2025. The liquidity position included a $2,500.0 million revolving credit facility, $245.0 million of…
• Operating Expense TrendsImportance 54 · Surprise 40
  Consolidated six-month other operating expenses increased $260.8 million, or 17.0%, to $1,795.4 million, while total operating expenses increased $214.3 million to $2,658.2 million. Columbia Operations recorded $52.9…
• Revenue Performance and MixImportance 53 · Surprise 32
  Six-month operating revenues increased $239.3 million, or 6.9%, to $3,705.5 million from $3,466.2 million, while second-quarter revenues increased $59.4 million, or 4.6%, to $1,342.4 million. Columbia Operations…
• Issuance of Senior Unsecured NotesImportance 52 · Surprise 42
  NiSource completed a $500.0 million issuance of 4.75% senior unsecured notes maturing in 2031 in May 2026. It also issued $750.0 million of 5.30% senior unsecured notes maturing in 2036. The combined issuances…
• Operating Cash Flow TrendsImportance 49 · Surprise 32
  Six-month cash from operating activities declined $59.1 million year over year to $1,122.7 million. Cash used in investing activities decreased $459.5 million to $2,106.8 million, primarily because 2025 included…
• Operating Margin DriversImportance 49 · Surprise 32
  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%.…
• Contractual ObligationsImportance 46 · Surprise 42
  Since December 31, 2025, NIPSCO and GenCo executed several capacity and other agreements supporting data center contracts. GenCo exercised an option and intends to convert its energy services agreement for the Tipton…
• Federal Power Act Emergency OrderImportance 44 · Surprise 60
  NIPSCO received successive 90-day emergency orders under Section 202(c) of the Federal Power Act to keep the R.M. Schahfer coal facility operating through September 19, 2026. The orders state that continued operation…
• Equity Financing ActivitiesImportance 40 · Surprise 42
  NiSource executed a February 2026 forward sale agreement covering 2,200,000 shares sold by the forward purchaser at a weighted-average price of $45.63 per share. In June 2026, it executed a second forward sale…
• Renewable Generation TransitionImportance 37 · Surprise 42
  NiSource continues its plan to retire and replace remaining coal-fired electric generation by 2028 with a mix of low- or zero-emission generation. The company is modernizing gas infrastructure, deploying advanced leak…
• Trade Policy and TariffsImportance 34 · Surprise 32
  NiSource reports elevated material and supply costs in certain product-sourcing categories driven by increased demand and tariffs. The company is monitoring potential disruptions in construction materials, global…
• Storm Asset ImpairmentImportance 32 · Surprise 60
  An extreme weather event damaged NIPSCO’s Dunn’s Bridge I solar-generation facilities in March 2026. As of June 30, 2026, NiSource deferred $3.5 million of site-cleanup and safety costs and recorded a $16.2 million…
• End-Market Demand TrendsImportance 31 · Surprise 32
  Columbia Operations served 2.42 million customers at June 30, 2026, up approximately 10,860 from the prior year, with residential and commercial customer growth partly offset by a decline in industrial customers.…
• Manufacturing and CapacityImportance 31 · Surprise 42
  GenCo is advancing a new combined-cycle natural gas-fired generation facility to support the ADS Contract, with engineering, procurement and planning underway and initial civil site work mobilized in June 2026.…
• Headcount / RestructuringImportance 31 · Surprise 42
  NiSource initiated the multi-year Value Captured program in the first quarter of 2026 to accelerate operational efficiencies, evaluate target operating models and improve scalability in response to customer…

Revenue by Product (in millions)