Equity Profile

NI

NiSource Inc.

UtilitiesMulti-Utilities$20.2B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

NiSource Inc. is a utility company that provides natural gas and electricity to customers in the Midwest and Northeast United States....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

0.16

Revenue

Revenue reflects the company's ability to generate sales and is crucial for assessing growth and operational efficiency.

968M

Wall Street expectations, options signals, track record, and call prep available with Pro.

NI Q2-2026 Earnings Preview

Context

Company Snapshot

NiSource Inc. is a utility company that provides natural gas and electricity to customers in the Midwest and Northeast United States. As a player in the multi-utilities sector, it plays a crucial role in energy distribution, which is vital for both residential and commercial consumers.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+11.35%

Avg Stock Reaction

+0.03%

Last Quarter Recap

In Q1-2026, NiSource reported an EPS of $1.06, slightly beating estimates. However, the stock experienced a decline of 1.41% the following day, indicating market caution.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect NiSource to report modest earnings this quarter, with a consensus EPS of $0.16. Investors will be looking for signs of growth amid ongoing challenges in the utility sector.

Bull Case

If NiSource can exceed EPS expectations and show strong revenue growth, it could signal a recovery in demand and operational efficiency, leading to a positive market reaction.

Bear Case

Conversely, if the company misses EPS or revenue targets, it may raise concerns about its ability to manage costs and maintain profitability, potentially leading to a further decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

0.16

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

968M

Revenue reflects the company's ability to generate sales and is crucial for assessing growth and operational efficiency.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will NiSource's EPS exceed the consensus estimate of $0.16?

A beat on EPS could indicate improved operational performance and investor confidence, while a miss may raise concerns.

What is the outlook for revenue growth given the current economic conditions?

Revenue growth is crucial for assessing the company's ability to expand and adapt to market changes, impacting investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of recent regulatory changes that could benefit NiSource's operational efficiency and cost structure.

Supporting Evidence

Historically, NiSource has consistently beaten EPS estimates, suggesting potential for another surprise.

The options market is pricing in a larger move than the stock has historically experienced, indicating possible overreactions.

Recent trends in energy prices may favor utilities like NiSource, which could lead to better-than-expected revenue.

Key Risk

If revenue growth significantly outpaces expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers around NiSource's ability to maintain profitability amid fluctuating energy prices and regulatory pressures.

Bull Confirmed If

An EPS of $0.18 or higher would confirm the bull case, indicating stronger profitability than expected.

Bear Confirmed If

An EPS below $0.14 would support the bear case, suggesting ongoing challenges in cost management and demand.

Pre-Earnings Positioning

Options Market

Implied Move

±10.37%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.4% while NI has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

18.1%

Calls (4K)P/C Ratio: 12.67Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NiSource beats expectations, history suggests a potential stock increase of around 0.34%, confirming positive market sentiment.

In-Line / Cautious

An in-line report may lead to muted reactions, as investors await further commentary on future growth prospects.

Miss

If the company misses EPS expectations, history indicates a potential decline of about 2.14%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on regulatory changes affecting utility operations.
2Insights into customer demand trends for natural gas and electricity.
3Management's commentary on cost management strategies.
4Future capital expenditure plans and their expected impact on growth.
5Any guidance on expected changes in energy prices.

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Company Snapshot

NiSource Inc. is a utility company that provides natural gas and electricity to customers in the Midwest and Northeast United States....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

0.16

Revenue

Revenue reflects the company's ability to generate sales and is crucial for assessing growth and operational efficiency.

968M

Wall Street expectations, options signals, track record, and call prep available with Pro.

NI Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+11.35%

Avg Stock Reaction

+0.03%

Last Quarter Recap

In Q1-2026, NiSource reported an EPS of $1.06, slightly beating estimates. However, the stock experienced a decline of 1.41% the following day, indicating market caution.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect NiSource to report modest earnings this quarter, with a consensus EPS of $0.16. Investors will be looking for signs of growth amid ongoing challenges in the utility sector.

Bull Case

If NiSource can exceed EPS expectations and show strong revenue growth, it could signal a recovery in demand and operational efficiency, leading to a positive market reaction.

Bear Case

Conversely, if the company misses EPS or revenue targets, it may raise concerns about its ability to manage costs and maintain profitability, potentially leading to a further decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

0.16

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

968M

Revenue reflects the company's ability to generate sales and is crucial for assessing growth and operational efficiency.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will NiSource's EPS exceed the consensus estimate of $0.16?

A beat on EPS could indicate improved operational performance and investor confidence, while a miss may raise concerns.

What is the outlook for revenue growth given the current economic conditions?

Revenue growth is crucial for assessing the company's ability to expand and adapt to market changes, impacting investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of recent regulatory changes that could benefit NiSource's operational efficiency and cost structure.

Supporting Evidence

Historically, NiSource has consistently beaten EPS estimates, suggesting potential for another surprise.

The options market is pricing in a larger move than the stock has historically experienced, indicating possible overreactions.

Recent trends in energy prices may favor utilities like NiSource, which could lead to better-than-expected revenue.

Key Risk

If revenue growth significantly outpaces expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers around NiSource's ability to maintain profitability amid fluctuating energy prices and regulatory pressures.

Bull Confirmed If

An EPS of $0.18 or higher would confirm the bull case, indicating stronger profitability than expected.

Bear Confirmed If

An EPS below $0.14 would support the bear case, suggesting ongoing challenges in cost management and demand.

Pre-Earnings Positioning

Options Market

Implied Move

±10.37%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.4% while NI has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

18.1%

Calls (4K)P/C Ratio: 12.67Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NiSource beats expectations, history suggests a potential stock increase of around 0.34%, confirming positive market sentiment.

In-Line / Cautious

An in-line report may lead to muted reactions, as investors await further commentary on future growth prospects.

Miss

If the company misses EPS expectations, history indicates a potential decline of about 2.14%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on regulatory changes affecting utility operations.
2Insights into customer demand trends for natural gas and electricity.
3Management's commentary on cost management strategies.
4Future capital expenditure plans and their expected impact on growth.
5Any guidance on expected changes in energy prices.