Overview

• US regulated utility's Q1 adjusted EPS rose yr/yr, beating analyst expectations

• Net income for Q1 increased compared to prior year

• Company reaffirmed 2026 adjusted EPS guidance and raised long-term growth rate outlook

Outlook

• NiSource reaffirms 2026 non-GAAP consolidated adjusted EPS guidance of $2.02-$2.07

• Company expects 2026 non-GAAP consolidated adjusted EPS to grow about 8% year-over-year at midpoint

• NiSource raises 2026-2033 non-GAAP consolidated adjusted EPS CAGR to 9%-10%

Result Drivers

• STRATEGY EXECUTION - Co attributed results to continued execution of its strategy and employee efforts, per CEO Lloyd Yates

Company press release: ID:nBw3mRFZ9a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Adjusted EPS	Beat	$1.06	$1.05 (9 Analysts)
Q1 EPS		$1.06
Q1 Net Income		$510.70 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the multiline utilities peer group is "buy"

• Wall Street's median 12-month price target for NiSource Inc is $51.00, about 5.8% above its May 5 closing price of $48.19

• The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.