Nisource Inc. has released its third-quarter results for 2025, with some notable changes in key financial metrics compared to the same period in 2024. On a GAAP basis, the net income available to common shareholders for the three months ended September 30, 2025, was $94.7 million, or $0.20 of earnings per diluted share. This represents an increase from the net income available to common shareholders of $85.7 million, or $0.19 of earnings per diluted share, for the same period in 2024.
For the nine months ended September 30, 2025, the GAAP basis net income available to common shareholders was $671.7 million, or $1.42 of earnings per diluted share, compared to $515.8 million, or $1.14 of earnings per diluted share, for the same period in 2024.
Nisource also reported non-GAAP adjusted net income available to common shareholders of $91.8 million, or $0.19 of adjusted earnings per share ("EPS") for the third quarter of 2025, compared to $89.9 million, or $0.20 of adjusted EPS, for the same period in 2024. For the nine months ended September 30, 2025, non-GAAP adjusted net income available to common shareholders was $656.0 million, or $1.38 of adjusted EPS, compared to $567.4 million, or $1.26 of adjusted EPS, for the same period in 2024.
Looking ahead, Nisource is reaffirming the upper half of its 2025 non-GAAP adjusted EPS guidance of $1.85-$1.89. In 2026, non-GAAP consolidated adjusted EPS is expected to be in the range of $2.02-$2.07. Furthermore, the company is extending its base capital plan to 2030, with base plan non-GAAP adjusted EPS growth expected to be 6%-8% annually, driven by $21.0 billion in base plan capital expenditures and 8%-10% rate base growth from 2026 to 2030.
Nisource's consolidated capital expenditure plan of $28.0 billion, inclusive of approximately $7.0 billion of capital investment related to data centers, marks a significant increase from the prior five-year plan and supports an expected consolidated non-GAAP adjusted EPS compound annual growth rate (CAGR) of 8%-9% for 2026 through 2033.
President and CEO Lloyd Yates expressed excitement about the company's progress, particularly with the approval of Genco and the new data center agreement, highlighting the focus on customer affordability and responsible growth.
The company's commitment to transparency and providing investors with relevant information is underscored by the detailed breakdown of its non-GAAP financial measures and the availability of additional information on its website.
Nisource Inc. serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states, and it is notable for its inclusion in the Dow Jones Sustainability * North America Index and for being on Forbes lists of America’s best employers for women and diversity. As a result of these announcements, the company's shares have moved -0.78% on the market, and are now trading at a price of $43.39. Check out the company's full 8-K submission here.
