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NiSource 8-K Report, Financial Results (Feb 11, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 11, 2026
Period End
February 11, 2026
Security
NI
In the record · 2016–202610-K1210-Q338-K177

NI filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 177 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’18Jun ’18
  2. Leadership change8-K · Oct ’20Oct ’20
  3. Material agreement8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Jan ’25Jan ’25

01—Abstract

Summary

Summary of the 8-K filed February 11, 2026. Cited figures are marked; the original filing is the authoritative source.

NiSource Inc. reported full-year 2025 results in a press release (Exhibit 99.1) dated February 11, 2026.

On a GAAP basis, net income available to common shareholders was $929.5 milliona, or $1.95 per diluted share, compared with $739.7 million, or $1.62 per diluted share, for 2024. Non-GAAP adjusted net income available to common shareholders was $905.2 million, or $1.90 of adjusted EPS, versus $798.6 million, or $1.75, a year earlier. The company says 2025 adjusted EPS came in above its guidance range and FFO/Debt exceeded its guidance range.

NiSource reaffirmed its 2026 non-GAAP consolidated adjusted EPS guidance of $2.02b–$2.07 and its 2026–2033 consolidated non-GAAP adjusted EPS compound annual growth rate of 8%–9%. The company expects to invest approximately $28.0 billion from 2026–2030 under its consolidated capital plan, including nearly $7.0 billion in strategic data center infrastructure investments. That plan is expected to support consolidated rate base growth of 9%–11% from 2026 through 2033.

The release highlights a landmark data center agreement with Amazon and a bill-credit arrangement that returns more than $1 billionc in savings to retail customers. The company is introducing base plan adjusted EPS and consolidated adjusted EPS beginning in 2026.

Base plan adjusted EPS excludes the impact of data center operations and development, while consolidated adjusted EPS combines base plan adjusted EPS with adjusted EPS from data center activities. The release notes that no GAAP reconciliation is provided for these forward-looking non-GAAP guidance measures because unpredictable items could be material.

02—Key points

Key Highlights

  1. GAAP net income available to common shareholders for 2025 was $929.5 million, or $1.95 per diluted share, up from $739.7 million, or $1.62, in 2024.
  2. Non-GAAP adjusted EPS for 2025 was $1.90, compared with $1.75 in 2024, and the company says it came in above its guidance range.
  3. Adjusted net income available to common shareholders for 2025 was $905.2 million, versus $798.6 million in 2024.
  4. 2026 non-GAAP consolidated adjusted EPS guidance of $2.02–$2.07 was reaffirmed.
  5. The company expects a 2026–2033 consolidated non-GAAP adjusted EPS CAGR of 8%–9% and consolidated rate base growth of 9%–11%, both reaffirmed.
  6. Planned investment of approximately $28.0 billion over 2026–2030, including nearly $7.0 billion in strategic data center infrastructure.
  7. Beginning in 2026, the company will report base plan adjusted EPS and consolidated adjusted EPS, with base plan excluding data center operations and development.

03—Questions

Frequently Asked Questions

  1. How did NiSource perform in 2025 on a GAAP and adjusted basis?

    GAAP net income available to common shareholders was $929.5 million, or $1.95 per diluted share. Non-GAAP adjusted net income was $905.2 million, or $1.90 of adjusted EPS, which the company says exceeded its guidance range.

  2. What is NiSource's 2026 earnings outlook?

    The company reaffirmed 2026 non-GAAP consolidated adjusted EPS guidance of $2.02–$2.07 and a 2026–2033 consolidated non-GAAP adjusted EPS CAGR of 8%–9%.

  3. How large is the planned investment program?

    NiSource expects to invest approximately $28.0 billion from 2026 through 2030 under its consolidated capital plan, including nearly $7.0 billion in strategic data center infrastructure investments. The plan is expected to support consolidated rate base growth of 9%–11% from 2026 through 2033.

  4. What is the data center agreement mentioned in the release?

    The CEO cites a landmark data center agreement with Amazon as a key 2025 achievement. The release does not provide further terms beyond the investment figures noted above.

  5. Why is the company changing how it reports EPS guidance?

    Starting in 2026, NiSource will present base plan adjusted EPS, which excludes data center operations and development, alongside consolidated adjusted EPS, which includes them. The company says this gives investors visibility into the different growth profiles of its business segments.

04—Continue

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