NiSource Announces Full-Year 2024 Results
NiSource (NYSE: NI) reported strong financial results for 2024, with GAAP net income of $739.7 million ($1.62 per diluted share), up from $661.7 million ($1.48 per share) in 2023. The company's non-GAAP adjusted net income reached $798.6 million ($1.75 per share), compared to $716.3 million ($1.60 per share) in 2023.
The company has raised its 2025 non-GAAP adjusted EPS guidance to $1.85-$1.89 and increased its base capital expenditure plan to $19.4 billion, a $100 million increase from the previous $19.3 billion. This investment is expected to drive 8%-10% rate base growth and 6%-8% annual non-GAAP adjusted EPS growth during 2025-2029.
NiSource achieved an 8.5% 3-year compound annualized growth rate and reported high customer satisfaction results, demonstrating strong operational performance.
NiSource (NYSE: NI) ha riportato risultati finanziari solidi per il 2024, con un reddito netto GAAP di 739,7 milioni di dollari (1,62 dollari per azione diluita), in aumento rispetto ai 661,7 milioni di dollari (1,48 dollari per azione) del 2023. Il reddito netto rettificato non-GAAP della società ha raggiunto i 798,6 milioni di dollari (1,75 dollari per azione), rispetto ai 716,3 milioni di dollari (1,60 dollari per azione) del 2023.
La società ha alzato le previsioni per l'EPS rettificato non-GAAP del 2025 a un intervallo di 1,85-1,89 dollari e ha aumentato il piano di spesa in conto capitale di base a 19,4 miliardi di dollari, un incremento di 100 milioni rispetto ai precedenti 19,3 miliardi. Questo investimento è previsto per generare una crescita della base tariffaria dell'8%-10% e una crescita annuale dell'EPS rettificato non-GAAP del 6%-8% nel periodo 2025-2029.
NiSource ha ottenuto un tasso di crescita annuale composto del 8,5% su tre anni e ha riportato risultati elevati di soddisfazione dei clienti, dimostrando un forte rendimento operativo.
NiSource (NYSE: NI) reportó resultados financieros sólidos para 2024, con un ingreso neto GAAP de 739.7 millones de dólares (1.62 dólares por acción diluida), un aumento respecto a los 661.7 millones de dólares (1.48 dólares por acción) de 2023. El ingreso neto ajustado no GAAP de la empresa alcanzó los 798.6 millones de dólares (1.75 dólares por acción), en comparación con los 716.3 millones de dólares (1.60 dólares por acción) de 2023.
La empresa ha elevado su guía de EPS ajustado no GAAP para 2025 a un rango de 1.85-1.89 dólares y ha incrementado su plan de gasto de capital base a 19.4 mil millones de dólares, un aumento de 100 millones respecto a los 19.3 mil millones anteriores. Se espera que esta inversión impulse un crecimiento de la base tarifaria del 8%-10% y un crecimiento anual del EPS ajustado no GAAP del 6%-8% durante 2025-2029.
NiSource logró una tasa de crecimiento anual compuesta del 8.5% durante tres años y reportó altos resultados en satisfacción del cliente, demostrando un sólido rendimiento operativo.
NiSource (NYSE: NI)는 2024년 강력한 재무 결과를 보고했으며, GAAP 기준 순이익은 7억 3970만 달러(희석 주당 1.62달러)로, 2023년 6억 6170만 달러(주당 1.48달러)에서 증가했습니다. 회사의 비-GAAP 조정 순이익은 7억 9860만 달러(주당 1.75달러)에 달했으며, 이는 2023년의 7억 1630만 달러(주당 1.60달러)와 비교됩니다.
회사는 2025년 비-GAAP 조정 EPS 가이던스를 1.85-1.89달러로 상향 조정하고, 기본 자본 지출 계획을 194억 달러로 증가시켰습니다. 이는 이전의 193억 달러에서 1억 달러 증가한 것입니다. 이 투자는 2025-2029년 동안 8%-10%의 요금 기반 성장과 6%-8%의 연간 비-GAAP 조정 EPS 성장을 이끌 것으로 예상됩니다.
NiSource는 3년 동안 8.5%의 연평균 복합 성장률을 달성했으며, 높은 고객 만족도를 보고하여 강력한 운영 성과를 입증했습니다.
NiSource (NYSE: NI) a annoncé des résultats financiers solides pour 2024, avec un revenu net GAAP de 739,7 millions de dollars (1,62 dollar par action diluée), en hausse par rapport à 661,7 millions de dollars (1,48 dollar par action) en 2023. Le revenu net ajusté non-GAAP de l'entreprise a atteint 798,6 millions de dollars (1,75 dollar par action), contre 716,3 millions de dollars (1,60 dollar par action) en 2023.
L'entreprise a relevé ses prévisions d'EPS ajusté non-GAAP pour 2025 à une fourchette de 1,85 à 1,89 dollar et a augmenté son plan d'investissement de base à 19,4 milliards de dollars, soit une augmentation de 100 millions par rapport aux 19,3 milliards précédents. Cet investissement devrait générer une croissance de la base tarifaire de 8%-10% et une croissance annuelle de l'EPS ajusté non-GAAP de 6%-8% pendant la période 2025-2029.
NiSource a atteint un taux de croissance annuel composé de 8,5% sur trois ans et a rapporté des résultats élevés en matière de satisfaction client, démontrant une forte performance opérationnelle.
NiSource (NYSE: NI) hat starke Finanzergebnisse für 2024 gemeldet, mit einem GAAP-Nettoeinkommen von 739,7 Millionen Dollar (1,62 Dollar pro verwässerter Aktie), ein Anstieg von 661,7 Millionen Dollar (1,48 Dollar pro Aktie) im Jahr 2023. Das nicht-GAAP bereinigte Nettoeinkommen des Unternehmens erreichte 798,6 Millionen Dollar (1,75 Dollar pro Aktie), verglichen mit 716,3 Millionen Dollar (1,60 Dollar pro Aktie) im Jahr 2023.
Das Unternehmen hat seine Prognose für das bereinigte EPS 2025 auf 1,85-1,89 Dollar angehoben und den Basisinvestitionsplan auf 19,4 Milliarden Dollar erhöht, was einem Anstieg von 100 Millionen Dollar gegenüber den vorherigen 19,3 Milliarden Dollar entspricht. Diese Investition wird voraussichtlich ein Wachstum der Erlösbasis von 8%-10% und ein jährliches Wachstum des bereinigten EPS von 6%-8% im Zeitraum 2025-2029 fördern.
NiSource erzielte eine jährliche Wachstumsrate von 8,5% über drei Jahre und berichtete von hohen Kundenzufriedenheitswerten, was eine starke betriebliche Leistung zeigt.
- Net income increased to $739.7M in 2024 from $661.7M in 2023
- Non-GAAP adjusted EPS grew to $1.75 from $1.60 year-over-year
- Raised 2025 EPS guidance to $1.85-$1.89
- Increased capital expenditure plan to $19.4B
- Achieved 8.5% 3-year compound annualized growth rate
- None.
Insights
NiSource's 2024 results reveal a compelling growth story in the utility sector. The 8.5% three-year compound annual growth rate significantly outperforms the typical utility sector growth rate of 4-6%, positioning NiSource as a sector leader in earnings expansion.
The increased capital expenditure plan of
The raised 2025 guidance of
The transition in non-GAAP reporting terminology, while maintaining consistent calculation methods, aligns with industry best practices and should enhance comparability with peer utilities. This change demonstrates management's commitment to transparency and modern reporting standards without affecting the underlying financial metrics.
- Achieved 2024 non-GAAP adjusted EPS above guidance range
- Raising 2025 non-GAAP adjusted EPS guidance
-
Reaffirming expected annual
6% -8% 2025-2029 non-GAAP adjusted EPS growth
NiSource also reported full-year 2024 non-GAAP adjusted net income available to common shareholders of
NiSource is raising 2025 non-GAAP adjusted EPS guidance to
“We continue our track record of strong financial growth achieving 2024 non-GAAP EPS of
**Non-GAAP Disclosure Statement
Beginning with the first quarter of 2024, NiSource Inc. changed its disclosure of non-GAAP results and guidance for net operating earnings available to common shareholders to adjusted net income available to common shareholders and for net operating EPS to adjusted EPS to better align with the presentation used by many companies to report their non-GAAP results. The change reflects a name change only and the calculations of each of these non-GAAP metrics remains consistent with the historical calculations
This press release includes financial results and guidance for NiSource with respect to adjusted net income available to common shareholders and adjusted EPS, which are non-GAAP financial measures as defined by the SEC. The company includes these measures because management believes they permit investors to view the company’s performance using the same tools that management uses and to better evaluate the company’s ongoing business performance. With respect to guidance on adjusted EPS, NiSource reminds investors that it does not provide a GAAP equivalent of its guidance on adjusted net income available to commons shareholders due to the impact of unpredictable factors such as fluctuations in weather, impact of asset sales and impairments and other unusual or infrequent items included in the comparable GAAP measures. The company is not able to estimate the impact of such factors on the comparable GAAP measures and, as such, is not providing guidance on a GAAP basis. In addition, the company is not able to provide a reconciliation of its non-GAAP adjusted EPS guidance to the comparable GAAP equivalents without unreasonable efforts.
Additional Information
Additional information for the year ended December 31, 2024, is available on the Investors section of www.nisource.com and includes segment and financial information and a presentation. The company alerts investors that it intends to use the Investors section of its website www.nisource.com and as well as the company’s social media channels to disseminate important information about the company to its investors. Investors are advised to look at NiSource’s website and social media channels for future important information about the company.
About NiSource
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in
The content of our website is not incorporated by reference into this document or any other report or document NiSource files with the Securities and Exchange Commission (“SEC”).
Forward-Looking Statements
This Press Release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. Forward-looking statements in this press release include, but are not limited to, statements concerning our guidance on adjusted EPS, plans, strategies, objectives, expected performance, expenditures, recovery of expenditures through rates, stated on either a consolidated or segment basis, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.
Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this Press Release include, among other things: our ability to execute our business plan or growth strategy, including utility infrastructure investments, or business opportunities, such as data center development and related generation sources and transmission capabilities to meet potential load growth; our ability to manage data center growth in our service territories; potential incidents and other operating risks associated with our business; our ability to work successfully with our third-party investors; our ability to adapt to, and manage costs related to, advances in technology, including alternative energy sources and changes in laws and regulations; our increased dependency on technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demand; our ability to attract, retain or re-skill a qualified, diverse workforce and maintain good labor relations; our ability to manage new initiatives and organizational changes; the performance and quality of third-party suppliers and service providers; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals, including our Net Zero Goal (as defined below), including any future associated impact from business opportunities such as data center development as those opportunities evolve; potential cybersecurity attacks or security breaches; increased requirements and costs related to cybersecurity; the actions of activist stockholders; any damage to our reputation; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; adverse economic and capital market conditions, including increases in inflation or interest rates, recession, or changes in investor sentiment; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; compliance with changes in, or new interpretations of applicable laws, regulations and tariffs; the cost of compliance with environmental laws and regulations and the costs of associated liabilities; changes in tax laws or the interpretation thereof; and other matters set forth in Item 1, "Business," Item 1A, "Risk Factors" and Part II, Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, some of which risks are beyond our control. In addition, the relative contributions to profitability by each business segment, and the assumptions underlying the forward-looking statements relating thereto, may change over time.
All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.
Schedule 1 - Reconciliation of Consolidated Net Income Available to Common Shareholders to Adjusted Net Income Available to Common Shareholders (Non-GAAP) (unaudited) |
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Three Months Ended December 31, |
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Twelve Months Ended December 31, |
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(in millions, except per share amounts) |
|
2024 |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2022 |
|
GAAP Net Income Available to Common Shareholders |
$ |
223.9 |
|
|
$ |
225.6 |
|
|
$ |
230.8 |
|
|
$ |
739.7 |
|
|
$ |
661.7 |
|
|
$ |
749.0 |
|
Adjustments to Operating Income: |
|
|
|
|
|
|
|
|
|
|
|
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Operating Revenues: |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Weather - compared to normal(1) |
|
9.8 |
|
|
|
13.4 |
|
|
|
(3.2 |
) |
|
|
60.4 |
|
|
|
60.6 |
|
|
|
(24.9 |
) |
FAC adjustment(2) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
8.0 |
|
NiSource Next initiative(3) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3.3 |
|
Massachusetts Business related amounts(4) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(105.0 |
) |
Total adjustments to operating income |
|
9.8 |
|
|
|
13.4 |
|
|
|
(3.2 |
) |
|
|
60.4 |
|
|
|
60.6 |
|
|
|
(118.6 |
) |
Other Income (Deductions): |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate swap settlement gain |
|
— |
|
|
|
— |
|
|
|
(10.0 |
) |
|
|
— |
|
|
|
— |
|
|
|
(10.0 |
) |
Income Taxes: |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Tax effect of above items(5) |
|
(2.5 |
) |
|
|
(3.3 |
) |
|
|
3.4 |
|
|
|
(15.5 |
) |
|
|
(15.8 |
) |
|
|
27.8 |
|
Preferred Dividends: |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Preferred dividends redemption premium(6) |
|
— |
|
|
|
3.6 |
|
|
|
— |
|
|
|
14.0 |
|
|
|
9.8 |
|
|
|
— |
|
Total adjustments to net income |
|
7.3 |
|
|
|
13.7 |
|
|
|
(9.8 |
) |
|
|
58.9 |
|
|
|
54.6 |
|
|
|
(100.8 |
) |
Adjusted Net Income Available to Common Shareholders |
$ |
231.2 |
|
|
$ |
239.3 |
|
|
$ |
221.0 |
|
|
$ |
798.6 |
|
|
$ |
716.3 |
|
|
$ |
648.2 |
|
Diluted Average Common Shares |
|
469.9 |
|
|
|
449.3 |
|
|
|
445.9 |
|
|
|
456.0 |
|
|
|
447.9 |
|
|
|
442.7 |
|
GAAP Diluted Earnings Per Share(7) |
$ |
0.47 |
|
|
$ |
0.50 |
|
|
$ |
0.52 |
|
|
$ |
1.62 |
|
|
$ |
1.48 |
|
|
$ |
1.70 |
|
Adjustments to diluted earnings per share |
|
0.02 |
|
|
|
0.03 |
|
|
|
(0.02 |
) |
|
|
0.13 |
|
|
|
0.12 |
|
|
|
(0.23 |
) |
Adjusted Earnings Per Share |
$ |
0.49 |
|
|
$ |
0.53 |
|
|
$ |
0.50 |
|
|
$ |
1.75 |
|
|
$ |
1.60 |
|
|
$ |
1.47 |
|
(1)Represents the variance between actual and normal weather. Beginning in 2024, the adjustment for NIPSCO Operations excludes the impact of non-controlling interest. |
(2)Represents fuel costs deemed over-collected from customers through the FAC mechanism and ordered to be refunded to customers. |
(3)Represents incremental severance and third-party consulting costs incurred in connection with the NiSource Next initiative. |
(4)Represents proceeds from a property insurance settlement related to the Greater Lawrence Incident. |
(5)Represents income tax expense calculated using the statutory tax rates for legal entity. |
(6)Represents the difference between the carrying value on the redemption date of the Series B Preferred Stock and the total amount of consideration paid to redeem, net of the fair value of common shares issued during 2024. |
(7) GAAP Diluted Earnings Per Share includes the effects of income allocated to participating securities and adds back the dilutive effect of Equity Units in the prior year. Please refer to Note 5, "Earnings Per Share," within the Company's Annual Report on Form 10-K for the period ended December 31, 2024. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250212295255/en/
Media
Kristen King
Finance Communications
(419) 787-1314
kking@nisource.com
Investors
Christopher Turnure
Investor Relations
(614) 404-9426
cturnure@nisource.com
Source: NiSource Inc.
FAQ
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