NiSource(US:NI)2025-10-29 10:41Financial Performance - For the three months ended September 30, 2025, NiSource reported total operating revenues of $1,273.1 million, a 18.3% increase from $1,076.3 million in the same period of 2024[19]. - Customer revenues for the nine months ended September 30, 2025, reached $4,636.2 million, up 23.9% from $3,743.2 million in 2024[19]. - Operating income for the three months ended September 30, 2025, was $297.5 million, representing a 36.3% increase compared to $218.3 million in 2024[19]. - Net income attributable to NiSource for the nine months ended September 30, 2025, was $671.7 million, a 25.9% increase from $536.5 million in 2024[19]. - Basic earnings per share for the three months ended September 30, 2025, were $0.20, compared to $0.19 in the same period of 2024[19]. - Comprehensive income for the three months ended September 30, 2025, was $122.2 million, compared to $101.0 million in 2024[20]. - Net income for the nine months ended September 30, 2025, increased to $734.2 million, up from $600.4 million in 2024, representing a growth of approximately 22.3%[24]. - The total operating revenue for the three months ended September 30, 2025, was $1,275.5 million, an increase from $1,079.6 million in the same period of 2024, representing an 18.1% growth[128][130]. - Operating income for the three months ended September 30, 2025, was $284.7 million, compared to $212.5 million for the same period in 2024, reflecting a 34% increase[128][130]. - For the nine months ended September 30, 2025, total operating revenue reached $4,746.5 million, up from $3,877.1 million in 2024, marking a 22.4% increase[133]. Assets and Equity - Total assets as of September 30, 2025, amounted to $34,402.9 million, an increase from $31,788.1 million at the end of 2024[22]. - Total stockholders' equity increased to $11,241.8 million as of September 30, 2025, compared to $10,668.3 million at the end of 2024[23]. - The balance of additional paid-in capital increased to $9,798.3 million as of September 30, 2025, from $9,521.5 million at the end of 2024, reflecting a growth of about 2.9%[26]. - The company’s retained deficit improved to $(572.0) million as of September 30, 2025, compared to $(711.7) million at the end of 2024, indicating a reduction of approximately 19.6%[26]. - The balance of common stock increased from 451,345 thousand shares as of December 31, 2023, to 470,670 thousand shares as of September 30, 2024[28]. - The fair value of long-term debt as of September 30, 2025, was estimated at $14,050.3 million, compared to a carrying amount of $14,503.4 million[94]. Cash Flow and Capital Expenditures - Net cash flows from operating activities reached $1,649.7 million, compared to $1,241.7 million in the same period of 2024, indicating a year-over-year increase of about 32.8%[24]. - Capital expenditures for the nine months ended September 30, 2025, totaled $1,936.0 million, an increase from $1,854.0 million in 2024, reflecting a growth of approximately 4.4%[24]. - The company paid dividends of $396.4 million on common stock during the nine months ended September 30, 2025, compared to $357.0 million in 2024, representing an increase of approximately 11.0%[24]. - The company reported a cash and cash equivalents balance of $95.0 million as of September 30, 2025, down from $156.6 million at the end of 2024[215]. Debt and Financing - Long-term debt, excluding amounts due within one year, rose to $14,472.1 million as of September 30, 2025, up from $12,074.5 million at the end of 2024[23]. - Proceeds from the issuance of long-term debt amounted to $2,362.0 million, compared to $2,229.6 million in 2024, showing an increase of about 5.9%[24]. - The company had $1,060.0 million of commercial paper outstanding as of September 30, 2025, with a weighted-average interest rate of 4.40%[64]. - The revolving credit facility has a program limit of $1.85 billion, with no outstanding borrowings as of September 30, 2025[63]. - NiSource's credit ratings remain stable, with S&P rating at BBB+, Moody's at Baa2, and Fitch at BBB as of September 30, 2025[216]. Operational Highlights - The Columbia Operations segment reported residential gas distribution revenues of $328.1 million for the three months ended September 30, 2025, compared to $296.9 million in the same period of 2024, marking an increase of approximately 10.5%[40]. - NIPSCO Operations generated electric service revenues of $633.1 million for the three months ended September 30, 2025, up from $515.1 million in the same period of 2024, representing a growth of about 22.9%[40]. - The company executed a forward sale agreement in February 2025, settling for $80.0 million based on a net price of $40.02 per share[57]. - NIPSCO plans to retire remaining coal-fired electric generation by 2028, transitioning to a balanced mix of low- or zero-emission electric generation[155]. - NIPSCO has placed into service renewable projects totaling 3,051 MW of nameplate capacity since 2020, with additional projects expected to be operational between 2025 and 2027[194]. Regulatory and Compliance - The company is evaluating the impacts of recent accounting pronouncements on its financial disclosures and policies[33]. - The Indiana Utility Regulatory Commission approved a Joint Stipulation and Settlement Agreement on June 26, 2025, which implemented new rates in multiple steps starting July 2025[76]. - NIPSCO Gas filed for a CPCN on April 21, 2025, seeking recovery of $244.1 million related to federally mandated Pipeline Safety IV Compliance Plan costs, which was granted on October 22, 2025[211]. - The company recorded a liability of $84.6 million for environmental remediation as of September 30, 2025, compared to $91.8 million as of December 31, 2024[112]. Employee and Talent Management - Increased competition for talent has led to higher costs for attracting and retaining employees, prompting NIPSCO to enhance its internal human capital programs[162].