Equity Profile

NI

NiSource Inc.

UtilitiesMulti-Utilities$22.3B

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.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term success.

N/A

1 more metrics, 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 is crucial for maintaining energy supply and infrastructure, especially as demand for reliable energy sources continues to grow.

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 the last quarter, NiSource reported an EPS of $1.06, slightly beating expectations. However, the stock experienced a decline of 1.41% the following day, reflecting market caution.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautious ahead of NiSource's earnings report, especially given the mixed performance in recent quarters. The market is looking for signs of stability and growth.

Bull Case

If NiSource can demonstrate strong revenue growth and maintain or improve its EPS, it could signal a positive trend that investors might rally behind.

Bear Case

Conversely, if the company reports disappointing numbers or fails to provide clear guidance, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the projected customer growth rate for the upcoming quarter?

Customer growth is essential for revenue stability, and any significant changes could impact future earnings.

How does management plan to address rising operational costs?

Operational costs can significantly affect profitability, and clarity on this issue will be crucial for investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for customer growth due to recent investments in infrastructure and service improvements.

Supporting Evidence

Historical data shows a strong correlation between infrastructure investment and customer growth.

Recent trends in energy demand suggest an uptick in new customer acquisitions.

Options pricing indicates a higher expected volatility than what has been realized in past quarters.

Key Risk

If customer growth exceeds 3%, it could significantly alter the market's perception of NiSource's stability and growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on customer growth and cost management, both of which are critical for sustaining profitability.

Bull Confirmed If

A customer growth rate exceeding 3% would confirm the bull case.

Bear Confirmed If

A decline in customer numbers or a significant increase in operational costs would confirm the bear case.

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 traders 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 8 of 30 (27%)

This setup has occurred 30 times across Utilities in the last 2 years. 22 of 30 (73%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.6%, with a raw directional average of -0.8% (modestly negative historical bias).

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

If results are in line with expectations but management is cautious, the stock may remain volatile without a clear direction.

Miss

A miss could lead to a decline of approximately 2.14%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and growth metrics.
2Details on operational cost management and any expected changes.
3Insights into regulatory impacts on utility operations.
4Any commentary on infrastructure investments and their expected returns.
5Management's outlook on energy demand trends in the coming quarters.

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AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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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.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term success.

N/A

1 more metrics, 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 the last quarter, NiSource reported an EPS of $1.06, slightly beating expectations. However, the stock experienced a decline of 1.41% the following day, reflecting market caution.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautious ahead of NiSource's earnings report, especially given the mixed performance in recent quarters. The market is looking for signs of stability and growth.

Bull Case

If NiSource can demonstrate strong revenue growth and maintain or improve its EPS, it could signal a positive trend that investors might rally behind.

Bear Case

Conversely, if the company reports disappointing numbers or fails to provide clear guidance, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the projected customer growth rate for the upcoming quarter?

Customer growth is essential for revenue stability, and any significant changes could impact future earnings.

How does management plan to address rising operational costs?

Operational costs can significantly affect profitability, and clarity on this issue will be crucial for investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for customer growth due to recent investments in infrastructure and service improvements.

Supporting Evidence

Historical data shows a strong correlation between infrastructure investment and customer growth.

Recent trends in energy demand suggest an uptick in new customer acquisitions.

Options pricing indicates a higher expected volatility than what has been realized in past quarters.

Key Risk

If customer growth exceeds 3%, it could significantly alter the market's perception of NiSource's stability and growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on customer growth and cost management, both of which are critical for sustaining profitability.

Bull Confirmed If

A customer growth rate exceeding 3% would confirm the bull case.

Bear Confirmed If

A decline in customer numbers or a significant increase in operational costs would confirm the bear case.

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 traders 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 8 of 30 (27%)

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

If results are in line with expectations but management is cautious, the stock may remain volatile without a clear direction.

Miss

A miss could lead to a decline of approximately 2.14%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and growth metrics.
2Details on operational cost management and any expected changes.
3Insights into regulatory impacts on utility operations.
4Any commentary on infrastructure investments and their expected returns.
5Management's outlook on energy demand trends in the coming quarters.