Equity Profile

NI

NiSource Inc.

UtilitiesMulti-Utilities$20.2B

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 Midwest and Northeast regions of the United States....

Key Metrics to Watch

EPS

Earnings per share is a crucial indicator of the company's profitability and financial health.

$0.16

Revenue

Revenue figures provide insight into the company's sales performance and overall growth.

$968M

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 Midwest and Northeast regions of the United States. As a key player in the multi-utilities sector, it plays a critical role in energy distribution and infrastructure, which is essential for both residential and commercial consumers.

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 experienced a decline of 1.41% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect NiSource to report modest earnings and revenue growth this quarter, with a consensus EPS of $0.16. The market is closely watching how the company navigates regulatory challenges and energy demand fluctuations.

Bull Case

If NiSource can exceed EPS expectations and demonstrate strong revenue growth, it may boost investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, if the company misses earnings expectations or provides weak guidance, it could lead to a significant sell-off, given the recent stock performance.

Key Metrics to Watch

EPS

$0.16

Earnings per share is a crucial indicator of the company's profitability and financial health.

Revenue

$968M

Revenue figures provide insight into the company's sales performance and overall growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will NiSource's EPS exceed the consensus estimate of $0.16?

A beat on EPS could signal strong operational performance and potentially lead to a positive stock reaction.

What guidance will management provide regarding future revenue growth?

Investors will be looking for clarity on revenue expectations, especially in light of regulatory pressures and market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street is underestimating the potential for NiSource to exceed EPS expectations due to strong operational efficiencies that have not been fully recognized.

Supporting Evidence

The company has consistently beaten EPS estimates in recent quarters, suggesting a trend of positive performance.

Options pricing indicates a larger move than historical averages, suggesting that the market is anticipating significant news.

Key Risk

If NiSource's EPS comes in above $0.18, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around NiSource's ability to manage costs and grow revenue amidst a challenging regulatory environment.

Bull Confirmed If

An EPS of $0.18 or better would confirm the bull case, indicating strong demand and effective cost management.

Bear Confirmed If

An EPS below $0.14 would confirm the bear case, suggesting ongoing challenges in revenue generation.

Pre-Earnings Positioning

Options Market

Implied Move

±10.37%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a larger-than-average move, suggesting that investors anticipate potential volatility around the earnings report.

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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

This setup has occurred 30 times across Utilities in the last 2 years. 23 of 30 (77%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.5%, with a raw directional average of -0.7% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NiSource beats expectations, history suggests the stock could rise by around 0.34%, confirming a positive outlook.

In-Line / Cautious

An in-line report may lead to muted reactions, as investors await further clarity from management on future guidance.

Miss

If the company misses expectations, history suggests a potential decline of around 2.14%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on regulatory changes affecting utility operations.
2Details on cost management strategies and their impact on margins.
3Insights into customer demand trends for gas and electricity.
4Management's outlook on future capital expenditures.
5Any commentary on competitive pressures in the utility sector.

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Company Snapshot

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

Key Metrics to Watch

EPS

Earnings per share is a crucial indicator of the company's profitability and financial health.

$0.16

Revenue

Revenue figures provide insight into the company's sales performance and overall growth.

$968M

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 experienced a decline of 1.41% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If NiSource can exceed EPS expectations and demonstrate strong revenue growth, it may boost investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, if the company misses earnings expectations or provides weak guidance, it could lead to a significant sell-off, given the recent stock performance.

Key Metrics to Watch

EPS

$0.16

Earnings per share is a crucial indicator of the company's profitability and financial health.

Revenue

$968M

Revenue figures provide insight into the company's sales performance and overall growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will NiSource's EPS exceed the consensus estimate of $0.16?

A beat on EPS could signal strong operational performance and potentially lead to a positive stock reaction.

What guidance will management provide regarding future revenue growth?

Investors will be looking for clarity on revenue expectations, especially in light of regulatory pressures and market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street is underestimating the potential for NiSource to exceed EPS expectations due to strong operational efficiencies that have not been fully recognized.

Supporting Evidence

The company has consistently beaten EPS estimates in recent quarters, suggesting a trend of positive performance.

Options pricing indicates a larger move than historical averages, suggesting that the market is anticipating significant news.

Key Risk

If NiSource's EPS comes in above $0.18, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around NiSource's ability to manage costs and grow revenue amidst a challenging regulatory environment.

Bull Confirmed If

An EPS of $0.18 or better would confirm the bull case, indicating strong demand and effective cost management.

Bear Confirmed If

An EPS below $0.14 would confirm the bear case, suggesting ongoing challenges in revenue generation.

Pre-Earnings Positioning

Options Market

Implied Move

±10.37%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a larger-than-average move, suggesting that investors anticipate potential volatility around the earnings report.

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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NiSource beats expectations, history suggests the stock could rise by around 0.34%, confirming a positive outlook.

In-Line / Cautious

An in-line report may lead to muted reactions, as investors await further clarity from management on future guidance.

Miss

If the company misses expectations, history suggests a potential decline of around 2.14%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on regulatory changes affecting utility operations.
2Details on cost management strategies and their impact on margins.
3Insights into customer demand trends for gas and electricity.
4Management's outlook on future capital expenditures.
5Any commentary on competitive pressures in the utility sector.