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 United States....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and financial health, which investors closely monitor.

Expected to be around $1.06

Revenue Growth

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

Not available

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 United States. With a market cap of $22 billion, it plays a crucial role in the utilities sector, which is essential for everyday life and economic stability.

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 Q1-2026, NiSource reported an EPS of $1.06, slightly beating expectations. However, the stock price fell by 1.41% the next day, indicating some investor caution.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are generally cautious ahead of the earnings report, given the mixed performance in previous quarters. The focus will be on whether NiSource can maintain its earnings momentum.

Bull Case

If NiSource can deliver strong EPS growth and positive revenue trends, it could boost investor confidence and lead to a stock price increase.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant drop in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

Expected to be around $1.06

EPS is a key indicator of a company's profitability and financial health, which investors closely monitor.

Revenue Growth

Not available

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

Customer Growth

Not available

An increase in customer numbers can indicate a growing market presence and demand for services.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact stock performance.

How is customer growth trending this quarter?

Customer growth is essential for future revenue, and insights into this metric could influence investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for NiSource to exceed EPS expectations due to recent operational improvements.

Supporting Evidence

The company has a strong track record of beating EPS estimates, with an 88% beat rate over the last eight quarters.

Options pricing suggests a larger move than historical averages, indicating potential for a significant surprise.

Recent operational efficiencies could lead to better-than-expected margins.

Key Risk

If customer growth exceeds expectations, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether NiSource can sustain its earnings growth amid competitive pressures and economic conditions.

Bull Confirmed If

An EPS of $1.10 or higher would confirm the bull case.

Bear Confirmed If

An EPS below $1.00 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 potential move in either direction, indicating uncertainty among investors.

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)

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 momentum.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

A miss could lead to a drop in stock price, with historical data suggesting an average decline of around 2.14%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer growth trends and how they impact revenue forecasts.
2Details on cost management strategies and their effect on margins.
3Insights into regulatory changes that could affect operations.
4Management's outlook on economic conditions and their potential impact on utility demand.
5Any commentary on future capital expenditures and growth initiatives.

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Company Snapshot

NiSource Inc. is a utility company that provides natural gas and electricity to customers in the United States....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and financial health, which investors closely monitor.

Expected to be around $1.06

Revenue Growth

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

Not available

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 Q1-2026, NiSource reported an EPS of $1.06, slightly beating expectations. However, the stock price fell by 1.41% the next day, indicating some investor caution.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are generally cautious ahead of the earnings report, given the mixed performance in previous quarters. The focus will be on whether NiSource can maintain its earnings momentum.

Bull Case

If NiSource can deliver strong EPS growth and positive revenue trends, it could boost investor confidence and lead to a stock price increase.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant drop in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

Expected to be around $1.06

EPS is a key indicator of a company's profitability and financial health, which investors closely monitor.

Revenue Growth

Not available

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

Customer Growth

Not available

An increase in customer numbers can indicate a growing market presence and demand for services.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact stock performance.

How is customer growth trending this quarter?

Customer growth is essential for future revenue, and insights into this metric could influence investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for NiSource to exceed EPS expectations due to recent operational improvements.

Supporting Evidence

The company has a strong track record of beating EPS estimates, with an 88% beat rate over the last eight quarters.

Options pricing suggests a larger move than historical averages, indicating potential for a significant surprise.

Recent operational efficiencies could lead to better-than-expected margins.

Key Risk

If customer growth exceeds expectations, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether NiSource can sustain its earnings growth amid competitive pressures and economic conditions.

Bull Confirmed If

An EPS of $1.10 or higher would confirm the bull case.

Bear Confirmed If

An EPS below $1.00 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 potential move in either direction, indicating uncertainty among investors.

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)

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 momentum.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

A miss could lead to a drop in stock price, with historical data suggesting an average decline of around 2.14%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer growth trends and how they impact revenue forecasts.
2Details on cost management strategies and their effect on margins.
3Insights into regulatory changes that could affect operations.
4Management's outlook on economic conditions and their potential impact on utility demand.
5Any commentary on future capital expenditures and growth initiatives.