Nisource 2025 Q2 Earnings EPS Growth Outpaces Slight Net Income Decline

Nisource (NI) delivered a mixed but largely positive Q2 2025 earnings report, with revenue surpassing expectations and EPS growth outpacing a modest net income decline. The company maintained its long-standing profitability streak and slightly raised its 2025 guidance, signaling confidence in its strategic execution and future performance.

Revenue
Nisource’s total revenue for Q2 2025 increased by 18.3% year-over-year to $1.25 billion, with strong contributions from its operating segments. The Columbia Operations segment generated $601.20 million, while NIPSCO Operations drove the majority of revenue with $680.60 million. Consolidated operating revenues reached $1.28 billion, with the Corporate and Other segment contributing $1.20 million. The robust revenue growth highlights the company’s solid operational performance.

Earnings/Net Income
Nisource’s earnings per share (EPS) grew by 15.8% to $0.22 in Q2 2025, compared to $0.19 in the same period in 2024. However, net income dipped slightly to $100.50 million, down 2.5% from $103.10 million in the prior year. Despite the decrease, the company has maintained profitability for over two decades in this quarter, showcasing its resilience. The EPS growth remains a positive indicator of performance.

Price Action
The stock price of Nisource declined 2.88% on the latest trading day and 1.48% for the week, but it has rebounded with a 5.58% gain month-to-date.

Post-Earnings Price Action Review
Following the earnings release, a buy-and-hold strategy based on revenue outperformance delivered a 95.40% return over 30 days, outperforming the benchmark by 9.98%. The strategy demonstrated strong growth potential, with a compound annual growth rate of 14.45% and a Sharpe ratio of 0.61, indicating solid risk-adjusted returns. With no maximum drawdown recorded, the approach reflects effective risk management, offering investors a promising balance of growth and stability.

CEO Commentary
NiSource President and CEO Lloyd Yates credited the company’s success to the dedication of employees and contractors in delivering reliable service. He emphasized the importance of meeting financial commitments while supporting system growth and reliability, which underpin the improved 2025 earnings outlook.

Guidance
Nisource has narrowed its 2025 non-GAAP adjusted EPS guidance to the upper half of the $1.85–$1.89 range, indicating higher-than-expected performance. The company projects 6%–8% annual non-GAAP adjusted EPS growth and 8%–10% annual rate base growth from 2025 to 2029, supported by $19.4 billion in capital expenditures over the period.

Additional News
Nisource announced a significant strategic shift toward renewable energy, with its Q2 report highlighting increased investments in clean energy initiatives. The company is expanding its infrastructure to support growing demand for sustainable power solutions, positioning itself for long-term energy market leadership. Additionally, Nisource plans to enhance shareholder returns through a potential stock repurchase program, reflecting its commitment to value creation. A new executive was also appointed to its board, further strengthening leadership and strategic direction.