NiSource beats third-quarter estimate and sets 2027 earnings guidance at $2.22-$2.30 a share

NiSource also raises its target for yearly earnings growth to 10 per cent to 11 per cent through 2033, citing a larger Microsoft agreement.

NiSource reported third-quarter earnings per share of $0.27, $0.04 above expectations. It narrowed its 2026 adjusted earnings per share guidance to the upper half of its $2.02-$2.07 range.

For 2027, NiSource set adjusted earnings per share guidance of $2.22-$2.30. It extended its base plan growth target of 6 per cent to 8 per cent a year through 2033. It also raised its target for adjusted earnings per share growth to 10 per cent to 11 per cent a year over 2027 to 2033.

Chief executive Lloyd Yates said this year's extreme weather had reinforced the case for infrastructure investment. He said the GenCo agreements, expected to deliver about $1.75 billion in customer savings, strengthen the company's growth outlook.

NiSource expanded its GenCo savings for existing customers to about $1.75 billion through a new agreement with Microsoft. The deal is a multi-year commitment from Microsoft tied to its data center buildout, rather than to speculative demand. NiSource links its higher long-range growth target to large-customer agreements like this one.

Earlier reports, dated October 13 and October 26, described Microsoft cutting cloud costs and offering workforce buyouts. The GenCo savings figure grew rather than shrank, which suggests NiSource's infrastructure commitments with Microsoft remain intact despite that wider cost cutting.