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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.59B | +11.7% | $0.47 | -5.4% | 49.7% | 26.3% | 14.1% | $-249M |
| FY2025 Q1 | $2.18B | +27.9% | $1.00 | +29.9% | 50.7% | 34.8% | 21.7% | $49M |
| FY2025 Q2 | $1.28B | +18.3% | $0.22 | +15.8% | 48.7% | 20.5% | 8.0% | $-163M |
| FY2025 Q3 | $1.27B | +18.3% | $0.20 | +5.3% | 53.3% | 23.4% | 7.4% | $-173M |
| FY2025 Q4 | $1.90B | +19.8% | $0.53 | +11.6% | 58.1% | 27.1% | 13.5% | $-134M |
| FY2026 Q1 | $2.36B | +8.2% | $1.06 | +6.0% | 59.5% | 34.7% | 21.5% | $-363M |
| FY2026 Q2 | $1.34B | +4.6% | $0.09 | -59.1% | 17.0% | 17.0% | 3.4% | $-417M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| 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 | 15 (0%) |
| Travis Miller | Morningstar | 11 (0%) |
| Steve Fleishman | Wolfe Research | 10 (0%) |
| Nick Campanella | Barclays | 9 (0%) |
| Bill Appicelli | UBS | 8 (0%) |
| Shar Pourreza | Wells Fargo | 8 (0%) |
| Richard Sunderland | Truist Securities | 6 (0%) |
| Elias Jossen | JPMorgan | 5 (0%) |
| Nick Amicucci | Evercore ISI | 5 (0%) |
| Paul Fremont | Ladenburg Thalmann | 5 (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 | 15 (0%) |
| Morningstar | 1 | 11 (0%) |
| Wolfe Research | 1 | 10 (0%) |
| Barclays | 1 |
| 9 (0%) |
| Wells Fargo | 2 | 9 (0%) |
| UBS | 1 | 8 (0%) |
| Evercore ISI | 2 | 7 (0%) |
| Truist Securities | 1 | 6 (0%) |
NiSource delivered Q1 consolidated adjusted EPS of $1.06, representing 8% year-over-year growth and accounting for 52% of projected midpoint earnings guidance, as the Alphabet partnership and Amazon expansion accelerated the data center strategy to approximately 4 GW of signed capacity. Management reaffirmed FY2026 guidance of $2.02-2.07 and raised the consolidated EPS CAGR by 100 basis points to 9-10% through 2033, while launching the pooled generation strategy and enhancing the consolidated CAPEX plan to $28.6 billion.
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 |
What NI and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Just to follow up on your relationship with NiSource. The utility recently announced the Alphabet GenCo expansion on top of the original Amazon program.”
NiSource is a Quanta utility customer whose GenCo program is expanding, a roughly $5.7B opportunity that is growing, signaling rising NiSource capital spend in the Midwest.
“we are launching a new partnership with Alphabet. By employing 340 megawatts of pooled resources, including advanced battery solutions and utilizing available market resources, we will begin service this summer and expect to achieve full ramp by 2030.”
NiSource signed a 15-year 340 MW energy agreement with Alphabet under its Genco model, supporting Alphabet's data center power demand in Northern Indiana.
“Over 400 megawatts of contracted generation will serve enhancements to the existing Amazon data center strategy, helping our retail customers realize savings faster”
NiSource is contracting over 400 MW of generation to serve Amazon's expanding Indiana data center strategy, a read-through to Amazon's growing power procurement for AI data centers.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
NI NiSource | 8 | +8.2% | |
| ATO Atmos Energy | 7 | +0.6% |