NiSource(US:NI)2024-10-30 10:33Financial Performance - NiSource reported Q3 2024 net income of $85.7 million, or $0.19 per diluted share, up from $77.0 million, or $0.17 per diluted share in Q3 2023, representing a 12% increase in net income year-over-year[1] - For the nine months ended September 30, 2024, net income was $515.8 million, or $1.14 per diluted share, compared to $436.1 million, or $0.98 per diluted share for the same period in 2023, reflecting an 18% increase[1] - Non-GAAP adjusted net income for Q3 2024 was $89.9 million, or $0.20 adjusted EPS, compared to $83.7 million, or $0.19 adjusted EPS in Q3 2023, marking a 2% increase[2] - For the nine months ended September 30, 2024, non-GAAP adjusted net income was $567.4 million, or $1.26 adjusted EPS, compared to $477.0 million, or $1.07 adjusted EPS in the same period of 2023, indicating a 19% increase[2] Guidance and Capital Expenditure - NiSource reaffirmed its 2024 non-GAAP adjusted EPS guidance of $1.70-1.74 and introduced 2025 guidance of $1.84-1.88, projecting annual growth of 6-8% from 2025 to 2029[2] - The company updated its 5-year capital expenditure plan to $19.3 billion, which is approximately $2.9 billion larger than the previous plan[2] Strategic Focus - NiSource is focusing on partnerships and investments in Indiana to improve reliability and reduce costs for customers, which are integral to its updated financial plan[3] - The company is also engaged in advanced discussions regarding its Integrated Resource Plan (IRP) to enhance operational efficiency[3] Market Presence and Sustainability - NiSource serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states, emphasizing its significant market presence[8] - The company is committed to sustainability and has been recognized in various indices and lists for its efforts in diversity and environmental responsibility[8]