Nisource (NI) Q2 FY2026 earnings: revenue $1.3 billion, up 4.6% on the year

Nisource Inc. (NI) reported revenue of $1.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.6% on the same quarter a year earlier. Net income was $46 million, down 55.5% on the year, and diluted earnings per share $0.09. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue

$1.3 billion

+4.6% on the year · -43.2% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

17.0%

20.5% a year earlier

Q3 FY2024Q2 FY2026

Net income

$46 million

-55.5% on the year · -91.0% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$0.09

-59.1% on the year · -91.5% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 kept.

GAAP EPS was $0.09: GAAP net income available to common shareholders was $45.5 million, or $0.09 diluted EPS, against $102.2 million, or $0.22, in the second quarter of 2025.
Adjusted EPS was $0.16: Non-GAAP consolidated adjusted EPS was $0.16 on $77.6 million of adjusted net income, against $0.22 and $101.9 million a year earlier.
April lockout cost $21.4 million: Incremental costs of the NIPSCO work continuity plans during the April 2026 lockout, including contractors and security, are excluded from adjusted results.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	1,342	2,363	1,283	-43.2%	+4.6%
Cost of revenue	194	669	262	-71.1%	-26.1%
Gross profit	1,149	1,694	1,021	-32.2%	+12.5%
Gross margin	85.6%	71.7%	79.6%
Operating income	228	819	263	-72.2%	-13.2%
Operating margin	17.0%	34.7%	20.5%
Interest expense	199	192	139	+4.0%	+43.2%
Income tax	10.2	85.8	23.8	-88.1%	-57.1%
Net income	45.5	507	102	-91.0%	-55.5%
Net margin	3.4%	21.5%	8.0%
Diluted EPS	$0.09	$1.06	$0.22	-91.5%	-59.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	680	442	495	+53.8%	+37.3%
Capital expenditure	1,097	805	658	+36.3%	+66.7%
Free cash flow	-417	-363	-163
Free cash flow margin	-31.1%	-15.4%	-12.7%
Cash from investing	-1,234	-873	-1,214
Cash from financing	552	392	780	+40.9%	-29.2%
Depreciation and amortisation	362	288	287	+25.6%	+26.3%
Dividends paid	144	149	132	-3.2%	+9.2%
Dividend per share	$0.30	$0.60	$0.28	-50.0%	+7.1%
Diluted shares, weighted	481m	481m	472m	+0.1%	+1.9%
Shares outstanding at period end	479m	479m	471m	+0.0%	+1.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	9,575	9,658	8,882	-0.9%	+7.8%
Non-controlling interest	2,320	2,269	2,114	+2.2%	+9.7%
Debt	17,403	16,767	15,756	+3.8%	+10.5%
Other liabilities	8,246	7,907	7,276	+4.3%	+13.3%
Total liabilities and equity	37,544	36,601	34,029	+2.6%	+10.3%
Goodwill	1,486	1,486	1,486	0.0%	0.0%
Investments	163	157	145	+4.2%	+12.7%
Cash and equivalents	70.0	71.9	335	-2.6%	-79.1%
Receivables	846	1,235	779	-31.5%	+8.7%
Other assets	34,978	33,651	31,284	+3.9%	+11.8%
Total assets	37,544	36,601	34,029	+2.6%	+10.3%

Questions

What was Nisource's revenue in Q2 FY2026?

Nisource (NI) reported revenue of $1.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.6% on the same quarter a year earlier.

How much did Nisource earn in Q2 FY2026?

Net income for Q2 FY2026 was $46 million, down 55.5% on the year, and diluted earnings per share $0.09.

When did Nisource report Q2 FY2026 results?

Nisource filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 5 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,409	1,873	1,183	1,090	1,705	1,966	1,090	1,027	1,422	1,706	1,085	1,076	1,588	2,183	1,283	1,273	1,903	2,363	1,342	1,349
Cost of revenue	479	707	384	331	689	765	252	181	335	425	165	166	377	648	262	194	482	669	194	207
Gross profit	930	1,167	800	759	1,015	1,201	838	846	1,087	1,281	920	910	1,211	1,536	1,021	1,080	1,421	1,694	1,149	1,142
Gross margin	66%	62%	68%	70%	60%	61%	77%	82%	76%	75%	85%	85%	76%	70%	80%	85%	75%	72%	86%	85%
Operating income	284	600	143	157	366	531	169	233	363	583	237	218	417	759	263	298	516	819	228	340
Operating margin	20%	32%	12%	14%	21%	27%	15%	23%	25%	34%	22%	20%	26%	35%	20%	23%	27%	35%	17%	25%
Interest expense	87.6	83.7	84.5	91.6	102	109	110	129	141	116	129	135	137	133	139	180	187	192	199	210
Net income	166	427	67.0	65.8	244	333	58.8	85.1	237	365	85.8	85.7	224	475	102	94.7	258	507	45.5	130
Net margin	12%	23%	6%	6%	14%	17%	5%	8%	17%	21%	8%	8%	14%	22%	8%	7%	14%	21%	3%	10%
Diluted EPS	$0.32	$0.94	$0.12	$0.12	$0.52	$0.71	$0.09	$0.17	$0.50	$0.77	$0.19	$0.19	$0.47	$1.00	$0.22	$0.20	$0.53	$1.06	$0.09	$0.27
Operating cash flow	279	580	327	129	373	683	508	345	399	456	446	340	540	686	495	468	713	442	680	547
Capital expenditure	545	450	467	606	680	557	605	724	760	590	630	635	760	637	658	640	846	805	1,097	1,200
Free cash flow	-267	130	-140	-477	-307	126	-97.2	-379	-361	-133	-184	-295	-220	49.1	-163	-173	-134	-363	-417	-653
Dividends paid	86.4	95.3	95.3	95.4	95.5	103	103	104	103	119	119	119	124	132	132	132	134	149	144	144
Shares outstanding	405m	406m	406m	406m	412m	413m	413m	413m	447m	448m	448m	467m	470m	471m	471m	477m	478m	479m	479m	480m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 5 August 2026: the filing.