The GAAP miss is largely non-recurring (lockout, storm costs), and the reaffirmed guidance and data center regulatory approvals support the long-term thesis. Monitor Q3 for normalization of operating costs and progress on the $28.6B capital plan.
Price Chart
Executive Summary
NiSource reported Q2 2026 GAAP EPS of $0.09, down sharply from $0.22 a year ago, driven by a $21.4M lockout cost and elevated storm activity. However, non-GAAP adjusted EPS of $0.16 matched consensus, and the company reaffirmed its full-year 2026 adjusted EPS guidance of $2.02-$2.07 and its 9%-10% long-term CAGR. The $28.6B capital plan and regulatory approvals for Amazon/Alphabet data center contracts support the long-term growth narrative, but the GAAP earnings miss and one-time operational disruptions are near-term headwinds.
Key Financial Metrics
Key Facts
- GAAP EPS fell to $0.09 from $0.22 YoY, a 59% decline, due to $21.4M in NIPSCO lockout costs and elevated storm activity.
- Non-GAAP adjusted EPS of $0.16 matched consensus estimates of $0.16.
- 2026 non-GAAP adjusted EPS guidance reaffirmed at $2.02-$2.07, implying ~8% YoY growth at the midpoint.
- 2026-2033 non-GAAP adjusted EPS CAGR reaffirmed at 9%-10%.
- $28.6B 2026-2030 capital plan includes $7.6B for strategic data center infrastructure.
- Regulatory approvals received for Amazon and Alphabet special contracts, advancing the data center strategy.
Financial Impact
Non-GAAP adjusted EPS of $0.16 matched consensus, but GAAP EPS of $0.09 was a 59% YoY decline. Full-year guidance unchanged.
Risk Factors
- Further operational disruptions or labor issues at NIPSCO.
- Execution risk on the large data center infrastructure buildout and associated financing.
- Regulatory lag or disallowances on capital investments.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001111711-26-000087 |
| Document: nix-20260805.htm | 0001111711-26-000087 |
| Document: 0001111711-26-000087-index-headers.html | 0001111711-26-000087 |
| Document: 0001111711-26-000087-index.html | 0001111711-26-000087 |
| Document: 0001111711-26-000087.txt | 0001111711-26-000087 |
| 8-K Data (Synthetic) | 0001111711-26-000087 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $42.91 $41.15 | ▼ −4.10% | ▼ −3.50% | $39.43 (−8.11%) |
Jul 21, 2026 10w ago | Institutional Cluster | $45.37 $42.12 | ▼ −7.16% | ▼ −9.73% | $39.43 (−13.09%) |
May 14, 2026 20w ago | 144 | $47.42 $47.21 | ▼ −0.44% | ▲ +0.42% | $39.43 (−16.85%) |
May 11, 2026 20w ago | 424B5 | $47.03 $46.33 | ▼ −1.49% | ▼ −1.18% | $39.43 (−16.16%) |
May 6, 2026 21w ago | 8-K | $47.51 $45.53 | ▼ −4.17% | ▼ −6.95% | $39.43 (−17.01%) |
Mar 30, 2026 26w ago | DEFA14A | $46.21 $48.50 | ▲ +4.95% | ▼ −7.64% | $39.43 (−14.67%) |
US Market Status
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