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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we announced Quanta selection by NiSource to design, procure and construct generation and infrastructure resources, capable of producing approximately 3 gigawatts of power for our large data center campus in Indiana.”
Quanta was selected by NiSource to design and build ~3 GW of generation for a large Indiana data center campus, a positive read-through for NiSource's load growth and data-center-driven capital plan.
“NiSource has engaged Quanta's for a design, procurement and construction execution of generation and infrastructure resources capable of producing approximately 3 gigawatts of power for a large load customer.”
NiSource has engaged Quanta on a ~3 GW generation and infrastructure build for a large load customer, signaling a major capital project and deepening customer relationship for NiSource.
“In 2025, we effectively executed an agreement with Amazon and, as detailed in our special contract filing with the IURC, we are anticipating $1 billion to flow back to NIPSCO customers, equating to an estimated $7 to $9 per customer per month upon Amazon's full ramp.”
NiSource signed a landmark power agreement to serve Amazon's Indiana data center load (a $6-7B Genco build), signalling Amazon's continued large-scale data center capacity expansion.
“We're excited to expand our partnership with Blackstone Infrastructure Partners through GenCo”
Blackstone Infrastructure Partners is a 19.9% minority equity partner in NiSource's GenCo, committing $1.5 billion, a capital-partnership read-through for Blackstone's infrastructure business.
“we have signed a separate EPC contract with Quanta to lead the construction of our advanced battery storage facilities, reinforcing our commitment and capability to deliver effective, reliable and sustainable energy solutions for Indiana”
NiSource signed a separate EPC contract with Quanta Services to build its advanced battery storage facilities, an engineering/construction supplier read-through for Quanta.
“we have entered into an engineering, procurement and construction agreement with a joint venture between Quanta Infrastructure Solutions Group and Zachry Industrial for development of the 2 GE Verona -- Vernova state-of-the-art CCGT stations”
Zachry Industrial is part of the EPC joint venture constructing NiSource's two new CCGT stations.
“we have entered into an engineering, procurement and construction agreement with a joint venture between Quanta Infrastructure Solutions Group and Zachry Industrial for development of the 2 GE Verona -- Vernova state-of-the-art CCGT stations”
NiSource's GenCo will build two combined-cycle gas turbine stations using GE Vernova turbines, a supplier read-through for GE Vernova's gas-turbine equipment.
“Columbia Gas of Virginia's partnership in delivering natural gas to Eli Lilly and Company's newly announced $5 billion manufacturing facility near Richmond, exemplifies a proactive approach to economic transition and infrastructure development”
NiSource's Columbia Gas of Virginia will supply natural gas to Eli Lilly's newly announced $5 billion manufacturing facility near Richmond, an economic-development and load-growth read-through tied to Lilly's expansion.
“Over the summer, S&P, Moody's and Fitch each completed their annual credit reviews and reported no changes to ratings and maintaining stable outlooks, which reflect the strong credit profile of NiSource.”
Fitch completed its annual credit review of NiSource with no rating changes and a stable outlook, reflecting the company's credit strength.
“Over the summer, S&P, Moody's and Fitch each completed their annual credit reviews and reported no changes to ratings and maintaining stable outlooks, which reflect the strong credit profile of NiSource.”
Moody's completed its annual credit review of NiSource with no rating changes and a stable outlook, reflecting the company's credit strength.
“Over the summer, S&P, Moody's and Fitch each completed their annual credit reviews and reported no changes to ratings and maintaining stable outlooks, which reflect the strong credit profile of NiSource.”
S&P completed its annual credit review of NiSource with no rating changes and a stable outlook, reflecting the company's credit strength.
“Notable projects include GI Tech's first U.S. manufacturing facility in Merrillville, Slate Automotive 1.4 million square foot electric truck plant in Warsaw and FedEx' $60 million investment in new distribution center in Gary, collectively projected to generate over 2,600 jobs.”
Slate Automotive is building a 1.4 million square foot electric truck plant in Warsaw, Indiana, part of new industrial load growth in NiSource's service territory.
“Notable projects include GI Tech's first U.S. manufacturing facility in Merrillville, Slate Automotive 1.4 million square foot electric truck plant in Warsaw and FedEx' $60 million investment in new distribution center in Gary, collectively projected to generate over 2,600 jobs.”
GI Tech is building its first U.S. manufacturing facility in Merrillville, Indiana, part of new industrial load growth in NiSource's Northern Indiana service territory.
“Notable projects include GI Tech's first U.S. manufacturing facility in Merrillville, Slate Automotive 1.4 million square foot electric truck plant in Warsaw and FedEx' $60 million investment in new distribution center in Gary, collectively projected to generate over 2,600 jobs.”
FedEx is investing $60 million in a new distribution center in Gary, Indiana, part of the economic development growth NiSource is supporting in its Northern Indiana service territory.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Julien Dumoulin-Smith | Jefferies | 13 (0%) |
| Travis Miller | Morningstar | 10 (0%) |
| Steve Fleishman | Wolfe Research | 10 (0%) |
| Will Appicelli | UBS | 8 (0%) |
| Nick Campanella | Barclays | 8 (0%) |
| Shar Pourreza | Wells Fargo | 8 (0%) |
| Rick Sunderland | Truist Securities | 6 (0%) |
| Elias Jossen | JPMorgan | 5 (0%) |
| Paul Fremont | Ladenburg Thalmann | 5 (0%) |
| Nick Amicucci | Evercore ISI | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 13 (0%) |
| Wolfe Research | 1 | 10 (0%) |
| Morningstar | 1 | 10 (0%) |
| Barclays | 1 |
| 8 (0%) |
| UBS | 1 | 8 (0%) |
| Wells Fargo | 1 | 8 (0%) |
| Evercore ISI | 2 | 6 (0%) |
| Truist Securities | 1 | 6 (0%) |
NiSource closed FY2025 with full-year adjusted EPS of $1.90, exceeding the guidance range, as Amazon was revealed as the data center counterparty with a $1 billion customer flowback commitment. Management reaffirmed FY2026 consolidated EPS guidance of $2.02-2.07, while the 7.1% dividend increase aligned with earnings growth, FFO to debt improved 150 basis points to 16.1%, and the Schahfer coal plant DOE Section 202 order presented a new compliance variable.
Regulation Policy | Capex Investment | Demand | Revenue Growth | Capital Allocation | Margin | Cost Pressure | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 6 | 7 | 2 | 1 | 1 | ||
| 2025Q1 | 12 | 6 | 9 | 1 | 2 | 1 | 2 | |
| 2025Q2 | 4 | 3 | 5 | 1 | 1 | 1 | 1 | 1 |
| 2025Q3 | 6 | 12 | 6 | 5 | 7 | 4 | 1 | 1 |
| 2025Q4 | 7 | 1 | 5 | 3 | 1 | 2 | ||
| 2026Q1 | 4 | 9 | 4 | 2 | 1 | 1 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Regulation Policy | 4 | 12 | 4 | 6 | 7 | 4 |
| Capex Investment | 6 | 6 | 3 | 12 | 1 | 9 |
| Demand | 7 | 9 | 5 | 6 | 5 | 4 |
| Revenue Growth | 2 | 1 | 1 | 5 | 3 | 2 |
| Capital Allocation | 1 | 2 | 1 | 7 | 1 | |
| Margin | 1 | 1 | 1 | 4 | 1 | |
| Cost Pressure | 2 | 1 | 1 | 1 | 2 | |
| Supply Chain | 1 | 1 | 2 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
NI NiSource | 8 | +8.2% | |
| ATO Atmos Energy | 7 | +0.6% |