NiSource

NI · Utilities · Market cap $21.4B

Q1 FY26 Mar 31, 2026 reported May 6, 2026

Revenue$2.3B +8% year over year

Gross profit$1.7B

Operating profit$0.8B

Net profit$0.5B 22% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	2.3	100%	+8%
Columbia Operations	1.3	57%	+7%
NIPSCO Operations	1	43%	+9%
Cost of revenue	−0.7	30%
Gross profit	1.7	71% margin	+1pp
Operating expenses	−0.8	36%	+0pp
Operating profit	0.8	35% margin	+0pp
Tax	−0.1
Interest & other costs	−0.2
Net profit	0.5	22%	+0pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.2	100%	+15%
NIPSCO Operations	0.8	67%	+21%
Columbia Operations	0.5	42%	+15%
Cost of revenue	−0.2	17%
Gross profit	1	84% margin	+0pp
Operating expenses	−0.7	60%	+0pp
Operating profit	0.3	24% margin	+4pp
Interest & other costs	−0.2
Net profit	0.1	8%	+0pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.2	100%	+15%
NIPSCO Operations	0.7	58%	+13%
Columbia Operations	0.6	50%	+24%
Cost of revenue	−0.3	25%
Gross profit	1	79% margin	−6pp
Operating expenses	−0.7	58%	+0pp
Operating profit	0.3	21% margin	−1pp
Interest & other costs	−0.2
Net profit	0.1	8%	+0pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.1	100%	+26%
Columbia Operations	1.2	57%	+36%
NIPSCO Operations	0.9	43%	+24%
Cost of revenue	−0.6	29%
Gross profit	1.5	70% margin	−5pp
Operating expenses	−0.7	35%	+0pp
Operating profit	0.8	35% margin	+1pp
Tax	−0.1
Interest & other costs	−0.2
Net profit	0.5	22%	+1pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Mar 31, 2026	May 6, 2026	$2.3B	+8%	35%	$0.5B	22%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 29, 2025	$1.2B	+15%	25%	$0.1B	8%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 6, 2025	$1.2B	+15%	25%	$0.1B	8%
Q1 FY25	Jan 1 – Mar 31, 2025	May 7, 2025	$2.1B	+26%	38%	$0.5B	22%