Research Alert: Nisource Posts Q1 Beat, Raises Long-term Growth Outlook On Data Center Strategy

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

NiSource delivered Q1 non-GAAP adjusted EPS of $1.06, representing 8.2% growth and beating consensus estimates of $1.05. Weather conditions provided a $3.7M tailwind compared to a $16.8M negative impact in Q1 2025. The GenCo initiative continues gaining momentum with expanded partnerships with Alphabet and Amazon expected to deliver approximately $1.4B in customer cost savings, positioning NiSource to capitalize on growing data center energy demand. Management raised its 2026-2033 non-GAAP consolidated adjusted EPS compound annual growth rate guidance to 9%-10% from 8%-9% and reaffirmed 2026 guidance of $2.02-$2.07. We believe the upward revision in long-term growth guidance reflects accelerating benefits from the data center strategy and provides NiSource with superior growth visibility compared to traditional utility peers. In our view, the GenCo model represents a differentiated growth strategy that strengthens grid infrastructure while delivering tangible customer benefits.