NiSource(US:NI)2025-02-12 22:15Financial Performance and Guidance - NiSource achieved 2024 adjusted EPS of $1.75, exceeding the guidance of $1.70-$1.74[14] - The company is raising its 2025 adjusted EPS guidance to $1.85-$1.89, up from the previous $1.84-$1.88[14] - NiSource reaffirms its annual adjusted EPS growth target of 6%-8% for the period 2025-2029[14] - The company targets an annual FFO/Debt ratio of 14%-16% through 2029[9, 14] - NiSource projects a total shareholder return of 9%-11% annually, assuming a constant P/E ratio and a 3.0% dividend yield[9, 10] Capital Investments and Rate Base - NiSource plans base plan capital expenditures of $19.4 billion for 2025-2029, supporting an 8%-10% rate base growth[9, 14] - The company is shifting approximately $100 million from upside to base plan capital expenditures and adding $500 million of upside opportunity[14] - NiSource's year-end 2024 regulated electric and gas rate base stands at $21.3 billion[9] - The company anticipates an annual average customer bill increase of less than 5% from 2023-2029[38] Segment Results - For the year 2024, NIPSCO Operations reported an adjusted operating income of $741.7 million, compared to $569.0 million in 2023, representing an increase of $172.7 million[36] - Columbia Operations reported an adjusted operating income of $767.2 million in 2024, slightly lower than the $771.6 million in 2023, a decrease of $4.4 million[36] Debt and Equity - As of December 31, 2024, NiSource's debt level was approximately $14.0 billion[59] - The company plans to raise $200-$300 million of annual equity via ATM from 2025-2029 as part of its base capital plan[42]